In its upcoming report, Newmont Corporation (NEM) is predicted by Wall Street analysts to post quarterly earnings of $1.81 per share, reflecting an increase of 29.3% compared to the same period last year. Revenues are forecasted to be $5.76 billion, representing a year-over-year increase of 2%.
The consensus EPS estimate for the quarter has undergone an upward revision of 13.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Newmont metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts predict that the 'Geographic Revenue- Nevada Gold Mines' will reach $869.31 million. The estimate suggests a change of +19.9% year over year.
The combined assessment of analysts suggests that 'Geographic Revenue- Ahafo' will likely reach $629.46 million. The estimate points to a change of +10.6% from the year-ago quarter.
It is projected by analysts that the 'Geographic Revenue- Merian' will reach $258.91 million. The estimate suggests a change of +26.3% year over year.
The average prediction of analysts places 'Geographic Revenue- Cerro Negro' at $246.76 million. The estimate points to a change of +22.8% from the year-ago quarter.
Analysts forecast 'AISC Consolidated - Total Gold' to reach 1602 dollars per ounce. The estimate is in contrast to the year-ago figure of 1463 dollars per ounce.
Analysts expect 'Attributable Production - Total Gold' to come in at 1403 thousands of ounces. The estimate compares to the year-ago value of 1899 thousands of ounces.
The consensus among analysts is that 'Attributable Gold Production - Boddington' will reach 135 thousands of ounces. Compared to the current estimate, the company reported 164 thousands of ounces in the same quarter of the previous year.
The consensus estimate for 'Attributable Gold Production - Tanami' stands at 108 thousands of ounces. Compared to the current estimate, the company reported 117 thousands of ounces in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Attributable Gold Production - Ahafo' of 174 thousands of ounces. Compared to the current estimate, the company reported 211 thousands of ounces in the same quarter of the previous year.
Analysts' assessment points toward 'CAS Consolidated - Total Gold' reaching 1240 dollars per ounce. Compared to the current estimate, the company reported 1096 dollars per ounce in the same quarter of the previous year.
According to the collective judgment of analysts, 'Average Realized Price - Gold' should come in at 3856 dollars per ounce. Compared to the current estimate, the company reported 2643 dollars per ounce in the same quarter of the previous year.
Based on the collective assessment of analysts, 'Average Realized Price - Copper' should arrive at N/A. Compared to the present estimate, the company reported N/A in the same quarter last year.
View all Key Company Metrics for Newmont here>>>
Shares of Newmont have demonstrated returns of +3.4% over the past month compared to the Zacks S&P 500 composite's -2% change. With a Zacks Rank #3 (Hold), NEM is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Newmont Corporation (NEM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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