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Why Newmont Corporation (NEM) Outpaced the Stock Market Today
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In the latest close session, Newmont Corporation (NEM - Free Report) was up +2.71% at $100.23. The stock exceeded the S&P 500, which registered a gain of 0.5% for the day. On the other hand, the Dow registered a gain of 0.7%, and the technology-centric Nasdaq increased by 0.31%.
Heading into today, shares of the gold and copper miner had lost 16.11% over the past month, lagging the Basic Materials sector's loss of 6.25% and the S&P 500's loss of 0.23%.
The upcoming earnings release of Newmont Corporation will be of great interest to investors. The company's earnings per share (EPS) are projected to be $2.25, reflecting a 57.34% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $6.19 billion, reflecting a 16.38% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.91 per share and revenue of $27.25 billion, indicating changes of +43.83% and +20.2%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 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. Within the past 30 days, our consensus EPS projection has moved 4.62% higher. Newmont Corporation is currently a Zacks Rank #3 (Hold).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 9.85. This denotes a premium relative to the industry average Forward P/E of 8.64.
It is also worth noting that NEM currently has a PEG ratio of 1.62. 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. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.88.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 155, positioning it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why Newmont Corporation (NEM) Outpaced the Stock Market Today
In the latest close session, Newmont Corporation (NEM - Free Report) was up +2.71% at $100.23. The stock exceeded the S&P 500, which registered a gain of 0.5% for the day. On the other hand, the Dow registered a gain of 0.7%, and the technology-centric Nasdaq increased by 0.31%.
Heading into today, shares of the gold and copper miner had lost 16.11% over the past month, lagging the Basic Materials sector's loss of 6.25% and the S&P 500's loss of 0.23%.
The upcoming earnings release of Newmont Corporation will be of great interest to investors. The company's earnings per share (EPS) are projected to be $2.25, reflecting a 57.34% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $6.19 billion, reflecting a 16.38% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.91 per share and revenue of $27.25 billion, indicating changes of +43.83% and +20.2%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 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. Within the past 30 days, our consensus EPS projection has moved 4.62% higher. Newmont Corporation is currently a Zacks Rank #3 (Hold).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 9.85. This denotes a premium relative to the industry average Forward P/E of 8.64.
It is also worth noting that NEM currently has a PEG ratio of 1.62. 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. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.88.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 155, positioning it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.