Yahoo Finance Newmont Corporation (NEM) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Newmont Corporation (NEM) closed at $45.78, marking a -0.72% move from the previous day. This change lagged the S&P 500's 1.76% gain on the day. At the same time, the Dow added 1.17%, and the tech-heavy Nasdaq gained 3.03%.
Heading into today, shares of the gold and copper miner had lost 0.41% over the past month, outpacing the Basic Materials sector's loss of 7.76% and the S&P 500's loss of 5.94% in that time.
Investors will be hoping for strength from Newmont Corporation as it approaches its next earnings release. On that day, Newmont Corporation is projected to report earnings of $0.28 per share, which would represent a year-over-year decline of 59.42%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.85 billion, down 5.57% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.24 per share and revenue of $11.87 billion. These totals would mark changes of +21.08% and -0.42%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Newmont Corporation. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.07% lower. Newmont Corporation currently has a Zacks Rank of #3 (Hold).
Investors should also note Newmont Corporation's current valuation metrics, including its Forward P/E ratio of 20.59. Its industry sports an average Forward P/E of 9.9, so we one might conclude that Newmont Corporation is trading at a premium comparatively.
It is also worth noting that NEM currently has a PEG ratio of 1.77. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Mining - Miscellaneous stocks are, on average, holding a PEG ratio of 1.77 based on yesterday's closing prices.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Newmont Corporation (NEM) : Free Stock Analysis Report
