Yahoo Finance Newmont Corporation (NEM) Gains As Market Dips: What You Should Know
The latest trading session saw Newmont Corporation (NEM) ending at $41.89, denoting a +0.6% adjustment from its last day's close. This change outpaced the S&P 500's 0.6% loss on the day. Meanwhile, the Dow lost 0.86%, and the Nasdaq, a tech-heavy index, lost 1.08%.
Heading into today, shares of the gold and copper miner had gained 2.61% over the past month, outpacing the Basic Materials sector's gain of 0.42% and lagging the S&P 500's gain of 3.15% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Newmont Corporation in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.50, signifying a 51.52% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $3.49 billion, reflecting a 29.96% rise from the equivalent quarter last year.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $2.37 per share and revenue of $16.06 billion. These results would represent year-over-year changes of +47.2% and +36.01%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 witnessed a 9.54% increase. At present, Newmont Corporation boasts a Zacks Rank of #2 (Buy).
With respect to valuation, Newmont Corporation is currently being traded at a Forward P/E ratio of 17.6. This expresses a discount compared to the average Forward P/E of 17.63 of its industry.
It is also worth noting that NEM currently has a PEG ratio of 0.35. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Mining - Miscellaneous industry stood at 3.67 at the close of the market yesterday.
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 183, positioning it in the bottom 28% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Newmont Corporation (NEM) : Free Stock Analysis Report
