Newmont Corporation (NEM) closed at $62.96 in the latest trading session, marking a -1.36% move from the prior day. This change was narrower than the S&P 500’s daily loss of 2.01%. At the same time, the Dow lost 1.56%, and the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the gold and copper miner had lost 7.1% over the past month, outpacing the Basic Materials sector’s loss of 15.03% and lagging the S&P 500’s loss of 6.08% in that time.
Wall Street will be looking for positivity from Newmont Corporation as it approaches its next earnings report date. In that report, analysts expect Newmont Corporation to post earnings of $0.76 per share. This would mark a year-over-year decline of 8.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.19 billion, up 4.03% from the year-ago period.
NEM’s full-year Zacks Consensus Estimates are calling for earnings of $3.43 per share and revenue of $13 billion. These results would represent year-over-year changes of +15.88% and +6.38%, respectively.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.91% lower. Newmont Corporation is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Newmont Corporation currently has a Forward P/E ratio of 18.6. This represents a premium compared to its industry’s average Forward P/E of 7.29.
The Mining – Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 149, which puts it in the bottom 42% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report