Newmont(US:NEM) ZACKSยท2024-10-15 23:01Company Overview - Newmont Corporation (NEM) closed at $55.68, reflecting a +1.57% change from the previous day, outperforming the S&P 500's daily loss of 0.76% [1] - Over the past month, NEM shares have increased by 3.18%, while the Basic Materials sector gained 2.96% and the S&P 500 rose by 4.31% [1] Upcoming Earnings - The upcoming earnings report for Newmont Corporation is scheduled for October 23, 2024, with an expected EPS of $0.77, representing a 113.89% increase from the same quarter last year [1] - Revenue is anticipated to reach $4.07 billion, indicating a 63.44% increase compared to the prior-year quarter [1] Full Year Projections - For the full year, Zacks Consensus Estimates project earnings of $3.06 per share and revenue of $17.56 billion, reflecting changes of +90.06% and +48.68% from the previous year, respectively [2] Analyst Estimates and Stock Performance - Recent changes to analyst estimates for Newmont Corporation suggest a positive outlook for the company's business trends, with a 3.59% increase in the consensus EPS projection over the past 30 days [3][2] - The Zacks Rank system currently rates Newmont Corporation as 3 (Hold), indicating a neutral outlook [3] Valuation Metrics - Newmont Corporation has a Forward P/E ratio of 17.93, which is higher than the industry's Forward P/E of 14.44, suggesting a premium valuation [3] - The company has a PEG ratio of 0.47, compared to the Mining - Gold industry's average PEG ratio of 0.81 [3] Industry Context - The Mining - Gold industry is part of the Basic Materials sector and currently holds a Zacks Industry Rank of 44, placing it within the top 18% of over 250 industries [4] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [4]