Newmont Corporation (NEM - Free Report) closed the most recent trading day at $41.74, moving +0.41% from the previous trading session. This move lagged the S&P 500's daily gain of 0.47%. At the same time, the Dow added 0.95%, and the tech-heavy Nasdaq gained 2.3%.
Heading into today, shares of the gold and copper miner had lost 9.96% over the past month, outpacing the Basic Materials sector's loss of 35.56% and the S&P 500's loss of 28.7% in that time.
NEM will be looking to display strength as it nears its next earnings release. On that day, NEM is projected to report earnings of $0.55 per share, which would represent year-over-year growth of 66.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.92 billion, up 61.81% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.27 per share and revenue of $11.77 billion. These totals would mark changes of +71.97% and +20.86%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for NEM. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate has moved 13.06% higher within the past month. NEM currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, NEM is currently trading at a Forward P/E ratio of 18.35. For comparison, its industry has an average Forward P/E of 8.83, which means NEM is trading at a premium to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.