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Newmont Corporation (NEM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Newmont Corporation (NEM - Free Report) closed the most recent trading day at $123.55, moving -2.92% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.76% for the day. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 1.13%.
Heading into today, shares of the gold and copper miner had lost 5.83% over the past month, lagging the Basic Materials sector's loss of 5.25% and the S&P 500's gain of 1.26%.
Analysts and investors alike will be keeping a close eye on the performance of Newmont Corporation in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.92, reflecting a 12.28% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.06 billion, indicating a 9.66% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.09 per share and revenue of $25.96 billion. These totals would mark changes of +31.93% and +14.52%, respectively, from last year.
Any recent changes to analyst estimates for Newmont Corporation should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, there's been a 0.86% rise in the Zacks Consensus EPS estimate. Newmont Corporation is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Newmont Corporation is currently exchanging hands at a Forward P/E ratio of 14.01. For comparison, its industry has an average Forward P/E of 13.95, which means Newmont Corporation is trading at a premium to the group.
We can also see that NEM currently has a PEG ratio of 1.78. 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 1.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 203, finds itself in the bottom 18% echelons of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Newmont Corporation (NEM) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Newmont Corporation (NEM - Free Report) closed the most recent trading day at $123.55, moving -2.92% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.76% for the day. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 1.13%.
Heading into today, shares of the gold and copper miner had lost 5.83% over the past month, lagging the Basic Materials sector's loss of 5.25% and the S&P 500's gain of 1.26%.
Analysts and investors alike will be keeping a close eye on the performance of Newmont Corporation in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.92, reflecting a 12.28% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $6.06 billion, indicating a 9.66% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $9.09 per share and revenue of $25.96 billion. These totals would mark changes of +31.93% and +14.52%, respectively, from last year.
Any recent changes to analyst estimates for Newmont Corporation should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the past month, there's been a 0.86% rise in the Zacks Consensus EPS estimate. Newmont Corporation is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Newmont Corporation is currently exchanging hands at a Forward P/E ratio of 14.01. For comparison, its industry has an average Forward P/E of 13.95, which means Newmont Corporation is trading at a premium to the group.
We can also see that NEM currently has a PEG ratio of 1.78. 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 1.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 203, finds itself in the bottom 18% echelons of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.