Newmont Corporation (NEM) closed the most recent trading day at $52.56, moving -1.35% from the previous trading session. This change lagged the S&P 500's 0.55% gain on the day. Meanwhile, the Dow experienced a rise of 0.25%, and the technology-dominated Nasdaq saw an increase of 0.63%.
The gold and copper miner's shares have seen an increase of 4.92% over the last month, surpassing the Basic Materials sector's gain of 4.58% and falling behind the S&P 500's gain of 6.29%.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. The company's earnings per share (EPS) are projected to be $0.95, reflecting a 31.94% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $4.53 billion, reflecting a 2.83% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.18 per share and a revenue of $19.05 billion, signifying shifts of +20.11% and +1.98%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.77% higher within the past month. At present, Newmont Corporation boasts a Zacks Rank of #2 (Buy).
From a valuation perspective, Newmont Corporation is currently exchanging hands at a Forward P/E ratio of 12.74. This signifies a discount in comparison to the average Forward P/E of 12.99 for its industry.
Also, we should mention that NEM has a PEG ratio of 0.9. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Mining - Gold stocks are, on average, holding a PEG ratio of 0.64 based on yesterday's closing prices.
The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 39, placing it within the top 16% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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