Wall Street analysts expect Newmont Corporation (NEM) to post quarterly earnings of $2.13 per share in its upcoming report, which indicates a year-over-year increase of 49%. Revenues are expected to be $6.19 billion, up 16.4% from the year-ago quarter.
The current level reflects a downward revision of 3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Newmont metrics that are commonly monitored and projected by Wall Street analysts.
Analysts predict that the 'Geographic Revenue- Nevada Gold Mines' will reach $862.82 million. The estimate indicates a change of +10.2% from the prior-year quarter.
The average prediction of analysts places 'Geographic Revenue- Pe?asquito' at $964.15 million. The estimate points to a change of +18.3% from the year-ago quarter.
According to the collective judgment of analysts, 'Geographic Revenue- Merian' should come in at $342.45 million. The estimate points to a change of +53.6% from the year-ago quarter.
Analysts expect 'Geographic Revenue- Cerro Negro' to come in at $211.49 million. The estimate points to a change of +88.8% from the year-ago quarter.
The combined assessment of analysts suggests that 'Average Realized Price - Silver' will likely reach 71 dollars per ounce. Compared to the present estimate, the company reported 30 dollars per ounce in the same quarter last year.
Analysts' assessment points toward 'Attributable Production - Total Gold' reaching 1231 thousands of ounces. The estimate is in contrast to the year-ago figure of 1478 thousands of ounces.
The collective assessment of analysts points to an estimated 'Average Realized Price - Gold' of 4774 dollars per ounce. Compared to the present estimate, the company reported 3320 dollars per ounce in the same quarter last year.
The consensus among analysts is that 'Average Realized Price - Copper' will reach N/A. The estimate is in contrast to the year-ago figure of N/A.
Based on the collective assessment of analysts, 'AISC Consolidated - Nevada Gold Mines' should arrive at 1746 dollars per ounce. The estimate is in contrast to the year-ago figure of 1771 dollars per ounce.
It is projected by analysts that the 'Attributable Production - Nevada Gold Mines' will reach 224 thousands of ounces. The estimate is in contrast to the year-ago figure of 239 thousands of ounces.
The consensus estimate for 'Attributable Production - Cerro Negro' stands at 45 thousands of ounces. Compared to the present estimate, the company reported 42 thousands of ounces in the same quarter last year.
Analysts forecast 'Attributable Production - Penasquito' to reach 44 thousands of ounces. Compared to the current estimate, the company reported 148 thousands of ounces in the same quarter of the previous year.
View all Key Company Metrics for Newmont here>>>Over the past month, Newmont shares have recorded returns of -13.6% versus the Zacks S&P 500 composite's +0.6% change. Based on its Zacks Rank #3 (Hold), NEM will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).