We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why Newmont Corporation (NEM) Outpaced the Stock Market Today
Read MoreHide Full Article
Newmont Corporation (NEM - Free Report) closed at $109.81 in the latest trading session, marking a +1.46% move from the prior day. This move outpaced the S&P 500's daily gain of 0.22%. At the same time, the Dow added 0.72%, and the tech-heavy Nasdaq gained 0.21%.
Prior to today's trading, shares of the gold and copper miner had lost 2.57% lagged the Basic Materials sector's gain of 2.87% and the S&P 500's gain of 6.04%.
Analysts and investors alike will be keeping a close eye on the performance of Newmont Corporation in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.3, showcasing a 60.84% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $6.19 billion, up 16.38% from the year-ago period.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $9.72 per share and revenue of $27.25 billion. These results would represent year-over-year changes of +41.07% and +20.2%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Newmont Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate has shifted 3.75% upward. Currently, Newmont Corporation is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Newmont Corporation has a Forward P/E ratio of 11.14 right now. This signifies a premium in comparison to the average Forward P/E of 9.54 for its industry.
The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 156, placing it within the bottom 37% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Why Newmont Corporation (NEM) Outpaced the Stock Market Today
Newmont Corporation (NEM - Free Report) closed at $109.81 in the latest trading session, marking a +1.46% move from the prior day. This move outpaced the S&P 500's daily gain of 0.22%. At the same time, the Dow added 0.72%, and the tech-heavy Nasdaq gained 0.21%.
Prior to today's trading, shares of the gold and copper miner had lost 2.57% lagged the Basic Materials sector's gain of 2.87% and the S&P 500's gain of 6.04%.
Analysts and investors alike will be keeping a close eye on the performance of Newmont Corporation in its upcoming earnings disclosure. The company is forecasted to report an EPS of $2.3, showcasing a 60.84% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $6.19 billion, up 16.38% from the year-ago period.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $9.72 per share and revenue of $27.25 billion. These results would represent year-over-year changes of +41.07% and +20.2%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Newmont Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate has shifted 3.75% upward. Currently, Newmont Corporation is carrying a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Newmont Corporation has a Forward P/E ratio of 11.14 right now. This signifies a premium in comparison to the average Forward P/E of 9.54 for its industry.
The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 156, placing it within the bottom 37% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.