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Newmont Corporation (NEM) Rises As Market Takes a Dip: Key Facts
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Newmont Corporation (NEM - Free Report) closed at $55.68 in the latest trading session, marking a +1.57% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 1.01%.
Coming into today, shares of the gold and copper miner had gained 3.18% in the past month. In that same time, the Basic Materials sector gained 2.96%, while the S&P 500 gained 4.31%.
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. 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 are projecting earnings of $3.06 per share and revenue of $17.56 billion, which would represent changes of +90.06% and +48.68%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
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. Within the past 30 days, our consensus EPS projection has moved 3.59% higher. Newmont Corporation is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Newmont Corporation is holding a Forward P/E ratio of 17.93. This indicates a premium in contrast to its industry's Forward P/E of 14.44.
Investors should also note that NEM has a PEG ratio of 0.47 right now. 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 0.81 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 44, placing it within the top 18% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.
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Newmont Corporation (NEM) Rises As Market Takes a Dip: Key Facts
Newmont Corporation (NEM - Free Report) closed at $55.68 in the latest trading session, marking a +1.57% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 1.01%.
Coming into today, shares of the gold and copper miner had gained 3.18% in the past month. In that same time, the Basic Materials sector gained 2.96%, while the S&P 500 gained 4.31%.
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. 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 are projecting earnings of $3.06 per share and revenue of $17.56 billion, which would represent changes of +90.06% and +48.68%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
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. Within the past 30 days, our consensus EPS projection has moved 3.59% higher. Newmont Corporation is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Newmont Corporation is holding a Forward P/E ratio of 17.93. This indicates a premium in contrast to its industry's Forward P/E of 14.44.
Investors should also note that NEM has a PEG ratio of 0.47 right now. 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 0.81 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 44, placing it within the top 18% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.