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Newmont Corporation (NEM) Stock Falls Amid Market Uptick: What Investors Need to Know
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Newmont Corporation (NEM - Free Report) closed the most recent trading day at $53.11, moving -0.04% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.03%. Meanwhile, the Dow experienced a drop of 0.04%, and the technology-dominated Nasdaq saw an increase of 0.2%.
The gold and copper miner's stock has climbed by 3.79% in the past month, exceeding the Basic Materials sector's gain of 1.37% and the S&P 500's gain of 1.54%.
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 $0.71, reflecting a 97.22% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $4.07 billion, up 63.44% from the prior-year quarter.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $2.82 per share and revenue of $17.39 billion. These results would represent year-over-year changes of +75.16% and +47.26%, respectively.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 0.06% lower within the past month. Currently, Newmont Corporation is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Newmont Corporation is presently trading at a Forward P/E ratio of 18.85. This signifies a premium in comparison to the average Forward P/E of 16.86 for its industry.
Also, we should mention that NEM has a PEG ratio of 0.47. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Mining - Gold industry had an average PEG ratio of 0.8.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 137, this industry ranks in the bottom 46% of all industries, numbering over 250.
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) Stock Falls Amid Market Uptick: What Investors Need to Know
Newmont Corporation (NEM - Free Report) closed the most recent trading day at $53.11, moving -0.04% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.03%. Meanwhile, the Dow experienced a drop of 0.04%, and the technology-dominated Nasdaq saw an increase of 0.2%.
The gold and copper miner's stock has climbed by 3.79% in the past month, exceeding the Basic Materials sector's gain of 1.37% and the S&P 500's gain of 1.54%.
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 $0.71, reflecting a 97.22% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $4.07 billion, up 63.44% from the prior-year quarter.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $2.82 per share and revenue of $17.39 billion. These results would represent year-over-year changes of +75.16% and +47.26%, respectively.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 0.06% lower within the past month. Currently, Newmont Corporation is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Newmont Corporation is presently trading at a Forward P/E ratio of 18.85. This signifies a premium in comparison to the average Forward P/E of 16.86 for its industry.
Also, we should mention that NEM has a PEG ratio of 0.47. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Mining - Gold industry had an average PEG ratio of 0.8.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 137, this industry ranks in the bottom 46% of all industries, numbering over 250.
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.