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Newmont Corporation (NEM) Outpaces Stock Market Gains: What You Should Know
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Newmont Corporation (NEM - Free Report) closed the most recent trading day at $85.95, moving +1.95% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.34% for the day. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.42%.
The gold and copper miner's stock has climbed by 11.14% in the past month, exceeding the Basic Materials sector's gain of 4.75% and the S&P 500's gain of 3.54%.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. It is anticipated that the company will report an EPS of $1.27, marking a 56.79% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.92 billion, showing a 6.75% escalation compared to the year-ago quarter.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $5.48 per share and revenue of $20.75 billion. These results would represent year-over-year changes of +57.47% and +11.06%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.33% higher. As of now, Newmont Corporation holds a Zacks Rank of #3 (Hold).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 15.4. This valuation marks a discount compared to its industry average Forward P/E of 16.36.
We can also see that NEM currently has a PEG ratio of 0.94. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Mining - Gold industry stood at 0.8 at the close of the market yesterday.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Newmont Corporation (NEM) Outpaces Stock Market Gains: What You Should Know
Newmont Corporation (NEM - Free Report) closed the most recent trading day at $85.95, moving +1.95% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.34% for the day. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.42%.
The gold and copper miner's stock has climbed by 11.14% in the past month, exceeding the Basic Materials sector's gain of 4.75% and the S&P 500's gain of 3.54%.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. It is anticipated that the company will report an EPS of $1.27, marking a 56.79% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $4.92 billion, showing a 6.75% escalation compared to the year-ago quarter.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $5.48 per share and revenue of $20.75 billion. These results would represent year-over-year changes of +57.47% and +11.06%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.33% higher. As of now, Newmont Corporation holds a Zacks Rank of #3 (Hold).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 15.4. This valuation marks a discount compared to its industry average Forward P/E of 16.36.
We can also see that NEM currently has a PEG ratio of 0.94. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Mining - Gold industry stood at 0.8 at the close of the market yesterday.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 28% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.