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Newmont Corporation (NEM) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest close session, Newmont Corporation (NEM - Free Report) was down 1.96% at $121.76. The stock fell short of the S&P 500, which registered a loss of 0.45% for the day. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 0.01%.
Coming into today, shares of the gold and copper miner had gained 7.08% in the past month. In that same time, the Basic Materials sector lost 0.59%, while the S&P 500 lost 2.43%.
Investors will be eagerly watching for the performance of Newmont Corporation in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.92, marking a 12.28% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $6.06 billion, indicating a 9.66% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.09 per share and a revenue of $25.96 billion, indicating changes of +31.93% and +14.52%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.04% increase. Newmont Corporation is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Newmont Corporation is holding a Forward P/E ratio of 13.67. This denotes a premium relative to the industry average Forward P/E of 12.52.
It's also important to note that NEM currently trades at a PEG ratio of 1.73. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining - Gold industry had an average PEG ratio of 0.94 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 213, which puts it in the bottom 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Newmont Corporation (NEM) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest close session, Newmont Corporation (NEM - Free Report) was down 1.96% at $121.76. The stock fell short of the S&P 500, which registered a loss of 0.45% for the day. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 0.01%.
Coming into today, shares of the gold and copper miner had gained 7.08% in the past month. In that same time, the Basic Materials sector lost 0.59%, while the S&P 500 lost 2.43%.
Investors will be eagerly watching for the performance of Newmont Corporation in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.92, marking a 12.28% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $6.06 billion, indicating a 9.66% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.09 per share and a revenue of $25.96 billion, indicating changes of +31.93% and +14.52%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.04% increase. Newmont Corporation is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Newmont Corporation is holding a Forward P/E ratio of 13.67. This denotes a premium relative to the industry average Forward P/E of 12.52.
It's also important to note that NEM currently trades at a PEG ratio of 1.73. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining - Gold industry had an average PEG ratio of 0.94 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 213, which puts it in the bottom 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.