Newmont Corporation (NEM) closed the most recent trading day at $64.35, moving +0.77% from the previous trading session. This change outpaced the S&P 500’s 0.38% loss on the day. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.05%.
– Zacks
Heading into today, shares of the gold and copper miner had gained 4.31% over the past month, outpacing the Basic Materials sector’s loss of 0.09% and the S&P 500’s loss of 6.25% in that time.
Newmont Corporation will be looking to display strength as it nears its next earnings release, which is expected to be February 24, 2022. In that report, analysts expect Newmont Corporation to post earnings of $0.76 per share. This would mark a year-over-year decline of 28.3%. Meanwhile, our latest consensus estimate is calling for revenue of $3.34 billion, down 1.22% from the prior-year quarter.
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. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.01% 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 19.84. This valuation marks a premium compared to its industry’s average Forward P/E of 10.15.
The Mining – Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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.
Just Released: Zacks Top 10 Stocks for 2022
In addition to the investment ideas discussed above, would you like to know about our 10 top buy-and-hold tickers for the entirety of 2022?
Last year’s 2021 Zacks Top 10 Stocks portfolio returned gains as high as +147.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys
Access Zacks Top 10 Stocks for 2022 today >>
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
Newmont Corporation (NEM): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research