It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Different than growth or momentum investors, value-focused investors are all about finding good stocks at good prices, and discovering which companies are trading under what their true value is before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, and Price/Cash Flow to help pick out the most attractive and discounted stocks.
Colorado-based Newmont Corporation is one of the world's largest producers of gold with several active mines in Nevada, Peru, Australia and Ghana. As of Dec 31, 2023, Newmont had gold mineral reserves of more than 135.9 million ounces. Its attributable gold production for 2023 was 5.5 million ounces.
NEM sits at a Zacks Rank #3 (Hold), holds a Value Style Score of B, and has a VGM Score of A. Compared to the Mining - Gold industry's P/E of 9.8X, shares of Newmont Corporation are trading at a forward P/E of 12X. NEM also has a PEG Ratio of 0.3, a Price/Cash Flow ratio of 13.9X, and a Price/Sales ratio of 2.8X.
Many value investors pay close attention to a company's earnings as well. For NEM, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.01 to $3.10 per share for 2024. Per share NEM boasts an average earnings surprise of 22.2%.
With strong valuation and earnings metrics, a good Zacks Rank, and top-tier Value and VGM Style Scores, investors should strongly think about adding NEM to their portfolios.
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Newmont Corporation (NEM) : Free Stock Analysis Report
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