Newmont Corporation (NEM) closed at $42.84 in the latest trading session, marking a +1.71% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 1.59%. Elsewhere, the Dow saw an upswing of 1.39%, while the tech-heavy Nasdaq appreciated by 1.63%.

Shares of the gold and copper miner have depreciated by 2.25% over the course of the past month, underperforming the Basic Materials sector's loss of 0.27% and outperforming the S&P 500's loss of 2.42%.

Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. On that day, Newmont Corporation is projected to report earnings of $0.68 per share, which would represent year-over-year growth of 23.64%. Meanwhile, our latest consensus estimate is calling for revenue of $4.61 billion, up 14.53% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.28 per share and revenue of $18.35 billion, indicating changes of -5.75% and -1.77%, respectively, compared to the previous year.

Investors should also take note of any recent adjustments to analyst estimates for Newmont Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 5.2% fall in the Zacks Consensus EPS estimate. Newmont Corporation is currently a Zacks Rank #3 (Hold).

From a valuation perspective, Newmont Corporation is currently exchanging hands at a Forward P/E ratio of 12.84. This valuation marks a premium compared to its industry's average Forward P/E of 11.01.

It's also important to note that NEM currently trades at a PEG ratio of 0.37. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Mining - Gold industry had an average PEG ratio of 0.63 as trading concluded yesterday.

The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 69, this industry ranks in the top 28% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow NEM in the coming trading sessions, be sure to utilize Zacks.com.

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

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