Newmont Corporation (NEM - Free Report) closed at $55.53 in the latest trading session, marking a -0.09% move from the prior day. This move lagged the S&P 500's daily gain of 0.06%. At the same time, the Dow lost 0.15%, and the tech-heavy Nasdaq gained 0.33%.
Investors will be hoping for strength from NEM as it approaches its next earnings release. The company is expected to report EPS of $0.33, up 175% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.37 billion, up 5.11% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.38 per share and revenue of $11.85 billion, which would represent changes of +80.3% and +21.62%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for NEM. These recent revisions tend to reflect the evolving nature of short-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 3.03% lower. NEM is currently a Zacks Rank #3 (Hold).
Investors should also note NEM's current valuation metrics, including its Forward P/E ratio of 23.37. This represents a premium compared to its industry's average Forward P/E of 14.02.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 34, putting it in the top 14% 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.