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Newmont Corporation (NEM) Rises Higher Than Market: Key Facts
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In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $54.82, marking a +0.96% move from the previous day. This change outpaced the S&P 500's 0.77% gain on the day. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.87%.
Shares of the gold and copper miner witnessed a gain of 1.1% over the previous month, trailing the performance of the Basic Materials sector with its gain of 5.59% and the S&P 500's gain of 4.87%.
The upcoming earnings release of Newmont Corporation will be of great interest to investors. The company's earnings report is expected on October 23, 2024. The company is expected to report EPS of $0.77, up 113.89% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $4.07 billion, reflecting a 63.44% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.06 per share and a revenue of $17.56 billion, indicating changes of +90.06% and +48.68%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Newmont Corporation. Recent revisions tend to reflect the latest near-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 exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 6.33% higher. Right now, Newmont Corporation possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Newmont Corporation is presently being traded at a Forward P/E ratio of 17.76. This expresses a premium compared to the average Forward P/E of 15.69 of its industry.
We can also see that NEM currently has a PEG ratio of 0.47. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Gold industry currently had an average PEG ratio of 0.81 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 48, finds itself in the top 20% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Newmont Corporation (NEM) Rises Higher Than Market: Key Facts
In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $54.82, marking a +0.96% move from the previous day. This change outpaced the S&P 500's 0.77% gain on the day. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.87%.
Shares of the gold and copper miner witnessed a gain of 1.1% over the previous month, trailing the performance of the Basic Materials sector with its gain of 5.59% and the S&P 500's gain of 4.87%.
The upcoming earnings release of Newmont Corporation will be of great interest to investors. The company's earnings report is expected on October 23, 2024. The company is expected to report EPS of $0.77, up 113.89% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $4.07 billion, reflecting a 63.44% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.06 per share and a revenue of $17.56 billion, indicating changes of +90.06% and +48.68%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Newmont Corporation. Recent revisions tend to reflect the latest near-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 exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 6.33% higher. Right now, Newmont Corporation possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Newmont Corporation is presently being traded at a Forward P/E ratio of 17.76. This expresses a premium compared to the average Forward P/E of 15.69 of its industry.
We can also see that NEM currently has a PEG ratio of 0.47. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Gold industry currently had an average PEG ratio of 0.81 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 48, finds itself in the top 20% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.