Newmont Corporation (NEM - Free Report) closed at $58.65 in the latest trading session, marking a -1.5% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.97%. Elsewhere, the Dow lost 2.57%, while the tech-heavy Nasdaq lost 3.47%.
Coming into today, shares of the gold and copper miner had gained 42.92% in the past month. In that same time, the Basic Materials sector gained 25.97%, while the S&P 500 gained 22.85%.
NEM will be looking to display strength as it nears its next earnings release, which is expected to be May 5, 2020. The company is expected to report EPS of $0.44, up 33.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.68 billion, up 48.78% from the year-ago period.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $2.47 per share and revenue of $11.99 billion. These results would represent year-over-year changes of +87.12% and +23.05%, respectively.
Investors might also notice recent changes to analyst estimates for NEM. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 9.23% higher within the past month. NEM is currently a Zacks Rank #2 (Buy).
In terms of valuation, NEM is currently trading at a Forward P/E ratio of 24.12. This valuation marks a premium compared to its industry's average Forward P/E of 10.85.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 52, which puts it in the top 21% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.