In the latest market close, Newmont Corporation (NEM) reached $55.28, with a -0.11% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.01%. Elsewhere, the Dow saw a downswing of 0.22%, while the tech-heavy Nasdaq appreciated by 0.32%.
Prior to today's trading, shares of the gold and copper miner had gained 1.34% over the past month. This has lagged the Basic Materials sector's gain of 4.05% and the S&P 500's gain of 5.2% in that time.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. The company is forecasted to report an EPS of $0.95, showcasing a 31.94% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $4.53 billion, indicating a 2.83% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.18 per share and a revenue of $19.05 billion, indicating changes of +20.11% and +1.98%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 9.76% higher. Newmont Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 13.23. This represents no noticeable deviation compared to its industry's average Forward P/E of 13.23.
Meanwhile, NEM's PEG ratio is currently 0.93. 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. The Mining - Gold was holding an average PEG ratio of 0.65 at yesterday's closing price.
The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 33, positioning it in the top 14% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Newmont Corporation (NEM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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