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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 $126.14, moving -2% from the previous trading session. This move lagged the S&P 500's daily loss of 0.59%. On the other hand, the Dow registered a loss of 0.6%, and the technology-centric Nasdaq decreased by 0.65%.
Prior to today's trading, shares of the gold and copper miner had gained 9.22% outpaced the Basic Materials sector's gain of 2.83% and the S&P 500's loss of 1.37%.
The investment community will be closely monitoring the performance of Newmont Corporation in its forthcoming earnings report. The company is predicted to post an EPS of $1.88, indicating a 9.94% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.92 billion, up 7.15% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.01 per share and a revenue of $25.74 billion, signifying shifts of +30.77% and +13.56%, respectively, from the last year.
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. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.14% higher. At present, Newmont Corporation boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 14.29. This valuation marks a premium compared to its industry average Forward P/E of 13.29.
One should further note that NEM currently holds a PEG ratio of 1.81. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.98.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 214, this industry ranks in the bottom 14% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
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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 $126.14, moving -2% from the previous trading session. This move lagged the S&P 500's daily loss of 0.59%. On the other hand, the Dow registered a loss of 0.6%, and the technology-centric Nasdaq decreased by 0.65%.
Prior to today's trading, shares of the gold and copper miner had gained 9.22% outpaced the Basic Materials sector's gain of 2.83% and the S&P 500's loss of 1.37%.
The investment community will be closely monitoring the performance of Newmont Corporation in its forthcoming earnings report. The company is predicted to post an EPS of $1.88, indicating a 9.94% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.92 billion, up 7.15% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $9.01 per share and a revenue of $25.74 billion, signifying shifts of +30.77% and +13.56%, respectively, from the last year.
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. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.14% higher. At present, Newmont Corporation boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 14.29. This valuation marks a premium compared to its industry average Forward P/E of 13.29.
One should further note that NEM currently holds a PEG ratio of 1.81. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.98.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 214, this industry ranks in the bottom 14% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.