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Newmont Corporation (NEM) Dips More Than Broader Market: What You Should Know
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Newmont Corporation (NEM - Free Report) closed the most recent trading day at $99.20, moving -6.89% from the previous trading session. This move lagged the S&P 500's daily loss of 0.28%. On the other hand, the Dow registered a loss of 0.44%, and the technology-centric Nasdaq decreased by 0.28%.
The gold and copper miner's stock has dropped by 14.56% in the past month, falling short of the Basic Materials sector's loss of 9.78% and the S&P 500's loss of 3.59%.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. The company is expected to report EPS of $2.07, up 65.6% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.53 billion, up 30.38% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $8.79 per share and revenue of $26.27 billion, which would represent changes of +27.58% and +15.88%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 6.64% higher within the past month. Newmont Corporation currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Newmont Corporation is currently exchanging hands at a Forward P/E ratio of 12.12. This denotes a premium relative to the industry average Forward P/E of 9.97.
We can additionally observe that NEM currently boasts a PEG ratio of 0.82. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Mining - Gold industry had an average PEG ratio of 1.11.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.
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Newmont Corporation (NEM) Dips More Than Broader Market: What You Should Know
Newmont Corporation (NEM - Free Report) closed the most recent trading day at $99.20, moving -6.89% from the previous trading session. This move lagged the S&P 500's daily loss of 0.28%. On the other hand, the Dow registered a loss of 0.44%, and the technology-centric Nasdaq decreased by 0.28%.
The gold and copper miner's stock has dropped by 14.56% in the past month, falling short of the Basic Materials sector's loss of 9.78% and the S&P 500's loss of 3.59%.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. The company is expected to report EPS of $2.07, up 65.6% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.53 billion, up 30.38% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $8.79 per share and revenue of $26.27 billion, which would represent changes of +27.58% and +15.88%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 6.64% higher within the past month. Newmont Corporation currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, Newmont Corporation is currently exchanging hands at a Forward P/E ratio of 12.12. This denotes a premium relative to the industry average Forward P/E of 9.97.
We can additionally observe that NEM currently boasts a PEG ratio of 0.82. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Mining - Gold industry had an average PEG ratio of 1.11.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.