Core Viewpoint - Newmont Corporation is expected to report strong third-quarter 2024 results, driven by higher gold prices and increased production volumes [1][6][8]. Financial Performance - The Zacks Consensus Estimate for third-quarter 2024 earnings is 75 cents per share, reflecting a 108.3% year-over-year increase [2]. - Revenue estimates for the same quarter stand at $4.07 billion, indicating a 63.4% increase from the previous year [2]. - Newmont's attributable gold production is projected at 1.72 million ounces for the September quarter, suggesting a 7.3% sequential rise [6]. Market Conditions - Gold prices have reached record highs, with an average realized price for Newmont estimated at $2,476 per ounce, a sequential rise of 5.5% [8]. - The gold market has been buoyed by a 50-basis-point interest rate cut by the U.S. Federal Reserve and geopolitical tensions, leading to a 4% gain in gold prices for Q3 2024 and a 32% increase year-to-date [8]. Cost and Efficiency - Newmont is expected to benefit from lower unit costs due to higher production volumes, with expectations of declining unit costs in the third and fourth quarters [9]. Stock Performance and Valuation - Newmont's shares have increased by 39.2% year-to-date, underperforming the Zacks Mining – Gold industry's 43.1% rise but outperforming the S&P 500's 22.9% increase [10]. - The company is currently trading at a forward 12-month earnings multiple of 16.16X, slightly above the peer group average of 15.82X [12]. Strategic Positioning - Newmont's acquisition of Newcrest Mining Limited has created a leading portfolio expected to deliver significant value and synergies [14]. - The company maintains a strong liquidity position and generates substantial cash flows, enabling it to fund growth projects and enhance shareholder value [14]. Investment Outlook - Investing in Newmont stock ahead of its earnings announcement is seen as a compelling opportunity due to its strong market position, financial health, and favorable gold market conditions [15].

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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].

Company 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]

In the latest trading session, Newmont Corporation (NEM) closed at $54.82, marking a +0.96% move from the previous day. This change outpaced the S&P 500's 0.77% gain on the day. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.87%.Shares of the gold and copper miner witnessed a gain of 1.1% over the previous month, trailing the performance of the Basic Materials sector with its gain of 5.59% and the S&P 500's gain of 4.87%.The upcoming earnings release of Newmont Corporation will ...

For Immediate ReleaseChicago, IL – October 11, 2024 – Today, Zacks Equity Research Newmont (NEM) , Agnico Eagle Mines (AEM) , Barrick Gold Corp. (GOLD) , IAMGOLD (IAG) and Idaho Strategic Resources (IDR) .Industry: GoldLink: https://www.zacks.com/commentary/2348505/buy-these-5-gold-stocks-to-capitalize-on-solid-industry-trendsThe prospects for the Zacks Mining - Gold industry look bright, backed by the 27% gain seen in gold prices so far this year. The bullion is expected to end the year at around $3,000 an ...

For Immediate ReleaseChicago, IL – October 10, 2024 – Today, Zacks Equity Research Newmont (NEM) , Agnico Eagle Mines (AEM) , Barrick Gold Corp. (GOL), IAMGOLD (IAG) and Idaho Strategic Resources (IDR) .Industry: GoldLink: https://www.zacks.com/commentary/2348505/buy-these-5-gold-stocks-to-capitalize-on-solid-industry-trendsThe prospects for the Zacks Mining - Gold industry look bright, backed by the 27% gain seen in gold prices so far this year. The bullion is expected to end the year at around $3,000 an o ...

Investors looking for stocks in the Mining - Gold sector might want to consider either Newmont Corporation (NEM) or Alamos Gold (AGI) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that tar ...

Company Overview - Newmont Corporation is one of the world's largest gold producers with active mines in Nevada, Peru, Australia, and Ghana [7] - As of December 31, 2023, Newmont had gold mineral reserves exceeding 135.9 million ounces [7] - The company's attributable gold production for 2023 was 5.5 million ounces [7] Investment Ratings - Newmont is rated 2 (Buy) on the Zacks Rank, indicating a favorable investment outlook [7] - The company has a VGM Score of A, reflecting strong performance across value, growth, and momentum metrics [7] Valuation Metrics - Newmont's Value Style Score is B, supported by a forward P/E ratio of 17.02, making it attractive for value investors [7] - Recent analyst revisions show four analysts have increased their earnings estimates for fiscal 2024, with the Zacks Consensus Estimate rising by $0.22 to $3.10 per share [7] - The company has an average earnings surprise of 19.2%, indicating a history of exceeding earnings expectations [7] Investment Strategy - Stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B are recommended for maximizing returns [6] - Newmont's solid Zacks Rank and high Value and VGM Style Scores position it as a strong candidate for investors [8]