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The latest trading session saw Newmont Corporation (NEM) ending at $42.72, denoting a -0.86% adjustment from its last day's close. This change lagged the S&P 500's daily loss of 0.51%. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 0.28%.
Shares of the gold and copper miner witnessed a gain of 12.3% over the previous month, beating the performance of the Basic Materials sector with its gain of 4.34% and the S&P 500's gain of 2.87%.
The upcoming earnings release of Newmont Corporation will be of great interest to investors. The company's earnings report is expected on February 20, 2025. In that report, analysts expect Newmont Corporation to post earnings of $0.93 per share. This would mark year-over-year growth of 86%. In the meantime, our current consensus estimate forecasts the revenue to be $4.88 billion, indicating a 23.35% growth compared to the corresponding quarter of the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Newmont Corporation. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.86% decrease. Newmont Corporation is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Newmont Corporation has a Forward P/E ratio of 12.45 right now. This indicates a premium in contrast to its industry's Forward P/E of 10.76.
Also, we should mention that NEM has a PEG ratio of 0.36. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Mining - Gold industry held an average PEG ratio of 0.62.
The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 89, finds itself in the top 36% echelons of all 250+ industries.