In the latest trading session, Newmont Corporation (NEM) closed at $74.40, marking a +1.96% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.64%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq lost 1.15%.
The gold and copper miner's stock has climbed by 17.5% in the past month, exceeding the Basic Materials sector's gain of 4.61% and the S&P 500's gain of 1.91%.
Analysts and investors alike will be keeping a close eye on the performance of Newmont Corporation in its upcoming earnings disclosure. In that report, analysts expect Newmont Corporation to post earnings of $1.27 per share. This would mark year-over-year growth of 56.79%. Meanwhile, our latest consensus estimate is calling for revenue of $4.92 billion, up 6.75% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.3 per share and revenue of $20.68 billion, which would represent changes of +52.3% and +10.67%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Newmont Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, the Zacks Consensus EPS estimate has shifted 3.87% upward. Right now, Newmont Corporation possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Newmont Corporation has a Forward P/E ratio of 13.77 right now. This denotes a premium relative to the industry average Forward P/E of 13.32.
We can also see that NEM currently has a PEG ratio of 0.86. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Mining – Gold industry had an average PEG ratio of 0.65 as trading concluded yesterday.
The Mining – Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 77, placing it within the top 32% of over 250 industries.
