Newmont Corporation (NEM) closed at $43.92 in the latest trading session, marking a +0.16% move from the prior day. The stock's change was more than the S&P 500's daily loss of 1.78%. Elsewhere, the Dow lost 0.99%, while the tech-heavy Nasdaq lost 2.61%.

Shares of the gold and copper miner have depreciated by 2.47% over the course of the past month, underperforming the Basic Materials sector's loss of 0.13% and outperforming the S&P 500's loss of 3.48%.

The investment community will be closely monitoring the performance of Newmont Corporation in its forthcoming earnings report. The company is forecasted to report an EPS of $0.67, showcasing a 21.82% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $4.61 billion, indicating a 14.53% upward movement from the same quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.23 per share and a revenue of $18.35 billion, signifying shifts of -7.18% and -1.77%, respectively, from the last year.

Investors should also note any recent changes to analyst estimates for Newmont Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 6.37% lower. Newmont Corporation presently features a Zacks Rank of #3 (Hold).

From a valuation perspective, Newmont Corporation is currently exchanging hands at a Forward P/E ratio of 13.56. This denotes a premium relative to the industry's average Forward P/E of 12.13.

We can additionally observe that NEM currently boasts a PEG ratio of 0.4. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Mining - Gold stocks are, on average, holding a PEG ratio of 0.89 based on yesterday's closing prices.

The Mining - Gold industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 66, finds itself in the top 27% echelons of all 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.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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Newmont Corporation (NEM) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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