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Newmont Corporation (NEM) Stock Moves -1.1%: What You Should Know

The most recent trading session ended with Newmont Corporation (NEM) standing at $38.64, reflecting a -1.1% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 1.46%. Elsewhere, the Dow lost 1.24%, while the tech-heavy Nasdaq lost 1.63%.

Heading into today, shares of the gold and copper miner had gained 14.21% over the past month, outpacing the Basic Materials sector's gain of 3.2% and the S&P 500's gain of 1.6% in that time.

Investors will be eagerly watching for the performance of Newmont Corporation in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 25, 2024. It is anticipated that the company will report an EPS of $0.32, marking a 20% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $3.4 billion, up 26.86% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.97 per share and revenue of $15 billion, indicating changes of +22.36% and +26.99%, respectively, compared to the previous year.

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Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Newmont Corporation. Recent revisions tend to reflect the latest 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 past month, there's been a 4.46% rise in the Zacks Consensus EPS estimate. Newmont Corporation is currently a Zacks Rank #3 (Hold).

With respect to valuation, Newmont Corporation is currently being traded at a Forward P/E ratio of 19.85. Its industry sports an average Forward P/E of 16.47, so one might conclude that Newmont Corporation is trading at a premium comparatively.

Also, we should mention that NEM has a PEG ratio of 1.07. 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 2.32 as of yesterday's close.

The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 158, this industry ranks in the bottom 38% of all industries, numbering over 250.

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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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Newmont Corporation (NEM) : Free Stock Analysis Report

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