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Newmont Corporation (NEM) Beats Stock Market Upswing: What Investors Need to Know
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In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $79.65, marking a +1.56% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.85% for the day. Elsewhere, the Dow gained 1.36%, while the tech-heavy Nasdaq added 0.72%.
Coming into today, shares of the gold and copper miner had gained 14.4% in the past month. In that same time, the Basic Materials sector gained 4.85%, while the S&P 500 gained 2.38%.
The upcoming earnings release of Newmont Corporation will be of great interest to investors. In that report, analysts expect Newmont Corporation to post earnings of $1.27 per share. This would mark year-over-year growth of 56.79%. Meanwhile, our latest consensus estimate is calling for revenue of $4.92 billion, up 6.75% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.3 per share and a revenue of $20.68 billion, indicating changes of +52.3% and +10.67%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.52% higher. Newmont Corporation currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Newmont Corporation is currently being traded at a Forward P/E ratio of 14.8. This represents a premium compared to its industry average Forward P/E of 14.44.
Investors should also note that NEM has a PEG ratio of 0.94 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining - Gold was holding an average PEG ratio of 0.73 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 150, placing it within the bottom 40% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Newmont Corporation (NEM) Beats Stock Market Upswing: What Investors Need to Know
In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $79.65, marking a +1.56% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.85% for the day. Elsewhere, the Dow gained 1.36%, while the tech-heavy Nasdaq added 0.72%.
Coming into today, shares of the gold and copper miner had gained 14.4% in the past month. In that same time, the Basic Materials sector gained 4.85%, while the S&P 500 gained 2.38%.
The upcoming earnings release of Newmont Corporation will be of great interest to investors. In that report, analysts expect Newmont Corporation to post earnings of $1.27 per share. This would mark year-over-year growth of 56.79%. Meanwhile, our latest consensus estimate is calling for revenue of $4.92 billion, up 6.75% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.3 per share and a revenue of $20.68 billion, indicating changes of +52.3% and +10.67%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.52% higher. Newmont Corporation currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Newmont Corporation is currently being traded at a Forward P/E ratio of 14.8. This represents a premium compared to its industry average Forward P/E of 14.44.
Investors should also note that NEM has a PEG ratio of 0.94 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining - Gold was holding an average PEG ratio of 0.73 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 150, placing it within the bottom 40% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.