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Newmont Corporation (NEM) Outperforms Broader Market: What You Need to Know
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Newmont Corporation (NEM - Free Report) closed the most recent trading day at $101.52, moving +2.52% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.54%. On the other hand, the Dow registered a gain of 0.66%, and the technology-centric Nasdaq increased by 0.77%.
Heading into today, shares of the gold and copper miner had lost 20.2% over the past month, lagging the Basic Materials sector's loss of 14.52% and the S&P 500's loss of 4.71%.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. It is anticipated that the company will report an EPS of $2.07, marking a 65.6% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $6.53 billion, indicating a 30.38% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.79 per share and revenue of $26.27 billion. These totals would mark changes of +27.58% and +15.88%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.03% higher. 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 11.26. This denotes a premium relative to the industry average Forward P/E of 9.51.
Investors should also note that NEM has a PEG ratio of 0.77 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Gold industry currently had an average PEG ratio of 1.04 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 58, finds itself in the top 24% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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) Outperforms Broader Market: What You Need to Know
Newmont Corporation (NEM - Free Report) closed the most recent trading day at $101.52, moving +2.52% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.54%. On the other hand, the Dow registered a gain of 0.66%, and the technology-centric Nasdaq increased by 0.77%.
Heading into today, shares of the gold and copper miner had lost 20.2% over the past month, lagging the Basic Materials sector's loss of 14.52% and the S&P 500's loss of 4.71%.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. It is anticipated that the company will report an EPS of $2.07, marking a 65.6% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $6.53 billion, indicating a 30.38% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.79 per share and revenue of $26.27 billion. These totals would mark changes of +27.58% and +15.88%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.03% higher. 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 11.26. This denotes a premium relative to the industry average Forward P/E of 9.51.
Investors should also note that NEM has a PEG ratio of 0.77 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Gold industry currently had an average PEG ratio of 1.04 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 58, finds itself in the top 24% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.