Yahoo Finance Newmont Corporation (NEM) Stock Dips While Market Gains: Key Facts
In the latest market close, Newmont Corporation (NEM) reached $41.90, with a -1.64% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.09%. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq added 0.16%.
The the stock of gold and copper miner has risen by 1.48% in the past month, leading the Basic Materials sector's loss of 3.97% and undershooting the S&P 500's gain of 2.83%.
Analysts and investors alike will be keeping a close eye on the performance of Newmont Corporation in its upcoming earnings disclosure. The company is expected to report EPS of $0.50, up 51.52% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.49 billion, up 29.96% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.44 per share and revenue of $16.03 billion, indicating changes of +51.55% and +35.69%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Newmont Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.92% higher. Newmont Corporation presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 17.43. For comparison, its industry has an average Forward P/E of 15.52, which means Newmont Corporation is trading at a premium to the group.
It is also worth noting that NEM currently has a PEG ratio of 0.36. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Miscellaneous industry currently had an average PEG ratio of 2.53 as of yesterday's close.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 204, finds itself in the bottom 20% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Newmont Corporation (NEM) : Free Stock Analysis Report
