In the latest close session, Newmont Corporation (NEM) was down 1.24% at $89.70. The stock's change was less than the S&P 500's daily loss of 1.01%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 1.4%.
Coming into today, shares of the gold and copper miner had lost 12.49% in the past month. In that same time, the Basic Materials sector lost 10.7%, while the S&P 500 gained 0.32%.
Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. The company plans to announce its earnings on July 23, 2026. In that report, analysts expect Newmont Corporation to post earnings of $2.18 per share. This would mark year-over-year growth of 52.45%. Simultaneously, our latest consensus estimate expects the revenue to be $6.19 billion, showing a 16.38% escalation compared to the year-ago quarter.
NEM's full-year Zacks Consensus Estimates are calling for earnings of $9.33 per share and revenue of $26.74 billion. These results would represent year-over-year changes of +35.41% and +17.96%, respectively.
It is also important to note the recent changes to analyst estimates for Newmont Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.83% lower. As of now, Newmont Corporation holds a Zacks Rank of #3 (Hold).
In terms of valuation, Newmont Corporation is currently trading at a Forward P/E ratio of 9.74. This represents a premium compared to its industry average Forward P/E of 9.47.
One should further note that NEM currently holds a PEG ratio of 1.03. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Mining - Gold industry stood at 0.61 at the close of the market yesterday.
The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 227, which puts it in the bottom 8% of all 250+ industries.
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.
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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This article originally published on Zacks Investment Research (zacks.com).