Newmont Corporation (NEM) closed the most recent trading day at $127.98, moving -3.26% from the previous trading session. This change lagged the S&P 500's daily loss of 0.25%. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq lost 0.52%.
The gold and copper miner's stock has climbed by 38.15% in the past month, exceeding the Basic Materials sector's gain of 15.14% and the S&P 500's gain of 4.34%.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. The company's upcoming EPS is projected at $1.88, signifying a 9.94% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $5.92 billion, indicating a 7.15% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $9.01 per share and revenue of $25.74 billion, which would represent changes of +30.77% and +13.56%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Newmont Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.23% higher. At present, Newmont Corporation boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Newmont Corporation is currently exchanging hands at a Forward P/E ratio of 14.69. This expresses a premium compared to the average Forward P/E of 14.63 of its industry.
We can also see that NEM currently has a PEG ratio of 1.36. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.91.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 233, this industry ranks in the bottom 6% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Newmont Corporation (NEM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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