The most recent trading session ended with Newmont Corporation (NEM) standing at $44.88, reflecting a -0.18% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.36%. On the other hand, the Dow registered a loss of 0.28%, and the technology-centric Nasdaq increased by 0.51%.
Shares of the gold and copper miner witnessed a gain of 14.9% over the previous month, beating the performance of the Basic Materials sector with its gain of 7.62% and the S&P 500's gain of 2.11%.
The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. The company is slated to reveal its earnings on February 20, 2025. The company is expected to report EPS of $0.86, up 72% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.88 billion, up 23.35% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 0.25% 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 13.02. This indicates a premium in contrast to its industry's Forward P/E of 11.41.
Also, we should mention that NEM has a PEG ratio of 0.38. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Mining - Gold industry held an average PEG ratio of 0.66.
The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 79, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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