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Newmont Corporation (NEM) Rises But Trails Market: What Investors Should Know
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In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $54.48, marking a +0.02% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.28% for the day. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.15%.
The gold and copper miner's shares have seen an increase of 4.67% over the last month, surpassing the Basic Materials sector's gain of 1.99% and the S&P 500's gain of 2%.
Investors will be eagerly watching for the performance of Newmont Corporation in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.71, reflecting a 97.22% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $4.07 billion, showing a 63.44% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.82 per share and a revenue of $17.39 billion, demonstrating changes of +75.16% and +47.26%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Newmont Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.06% decrease. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Newmont Corporation is presently trading at a Forward P/E ratio of 19.33. This signifies a premium in comparison to the average Forward P/E of 16.32 for its industry.
Investors should also note that NEM has a PEG ratio of 0.48 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Mining - Gold industry had an average PEG ratio of 0.67 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 89, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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) Rises But Trails Market: What Investors Should Know
In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $54.48, marking a +0.02% move from the previous day. The stock fell short of the S&P 500, which registered a gain of 0.28% for the day. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.15%.
The gold and copper miner's shares have seen an increase of 4.67% over the last month, surpassing the Basic Materials sector's gain of 1.99% and the S&P 500's gain of 2%.
Investors will be eagerly watching for the performance of Newmont Corporation in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.71, reflecting a 97.22% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $4.07 billion, showing a 63.44% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.82 per share and a revenue of $17.39 billion, demonstrating changes of +75.16% and +47.26%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Newmont Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.06% decrease. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Newmont Corporation is presently trading at a Forward P/E ratio of 19.33. This signifies a premium in comparison to the average Forward P/E of 16.32 for its industry.
Investors should also note that NEM has a PEG ratio of 0.48 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Mining - Gold industry had an average PEG ratio of 0.67 as trading concluded yesterday.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 89, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.