Newmont Corporation (NEM) Earnings Expected to Grow: Should You Buy?

Core Viewpoint - Newmont Corporation (NEM) is anticipated to report a year-over-year increase in earnings due to higher revenues, with the earnings report expected on October 23, 2024 [1][2]. Revenue and Earnings Estimates - The consensus estimate for quarterly earnings is $0.77 per share, reflecting a year-over-year increase of +113.9% [2]. - Expected revenues are projected at $4.07 billion, which is a 63.4% increase from the same quarter last year [2]. Estimate Revisions Trend - The consensus EPS estimate has been revised 8.9% higher in the last 30 days, indicating a reassessment by covering analysts [3]. Earnings Whisper and ESP - The Zacks Earnings ESP model suggests that the Most Accurate Estimate is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -4.96%, indicating a bearish outlook from analysts [4][6][7]. - A positive Earnings ESP is generally a strong predictor of an earnings beat, especially when combined with a favorable Zacks Rank [5]. Historical Performance - In the last reported quarter, Newmont was expected to post earnings of $0.53 per share but exceeded expectations with earnings of $0.72, resulting in a surprise of +35.85% [8]. - Over the past four quarters, Newmont has beaten consensus EPS estimates two times [8]. Conclusion - Newmont does not appear to be a compelling candidate for an earnings beat based on current estimates and trends, suggesting that investors should consider other factors before making investment decisions [9].