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Newmont Corporation (NEM) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·3-min read

Newmont Corporation (NEM) closed at $40.27 in the latest trading session, marking a -0.79% move from the prior day. This change lagged the S&P 500's 0.21% loss on the day. At the same time, the Dow lost 0.43%, and the tech-heavy Nasdaq gained 0.03%.

Prior to today's trading, shares of the gold and copper miner had lost 5.19% over the past month. This has was narrower than the Basic Materials sector's loss of 14.2% and the S&P 500's loss of 9.7% in that time.

Newmont Corporation will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.65, up 8.33% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.16 billion, up 9.31% from the prior-year quarter.

NEM's full-year Zacks Consensus Estimates are calling for earnings of $2.62 per share and revenue of $12.43 billion. These results would represent year-over-year changes of -11.49% and +1.72%, respectively.

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Any recent changes to analyst estimates for Newmont Corporation should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.45% higher within the past month. Newmont Corporation is currently sporting a Zacks Rank of #2 (Buy).

Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 15.48. For comparison, its industry has an average Forward P/E of 6.87, which means Newmont Corporation is trading at a premium to the group.

The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% 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.

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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Zacks Investment Research