CA - Newmont Q2 earnings on deck what to expect

2023-07-19 14:04:19 ET

• U.S. goldminer Newmont ( NYSE: NEM ) is scheduled to announce Q2 earnings results on Thursday, July 20th, before market open.
• The consensus EPS estimate is $0.47 and the consensus revenue estimate is $2.88 billion.
• Over the last 2 years, NEM has beaten EPS estimates 38% of the time and has beaten revenue estimates 38% of the time.
• Over the last 3 months, EPS estimates have seen 3 upward revisions and 6 downward. Revenue estimates have seen 0 upward revisions and 1 downward.
• The company on April 27 reported Q1 non-GAAP EPS of $0.40, beating estimates by 8 cents. However, revenue of $2.7 billion was down 11.3% from last year and missed consensus by $21 million.
• NEM has a Quant rating of " HOLD ", with a 3.07 rating score.
• NEM has an industry ranking of 21 out of 44 among gold stocks, as per SA's Quant ranking.
• Wall Street analysts and Seeking Alpha authors rate the NEM stock a " BUY ".
• NEM stock fell 19.4% in 2022, while the benchmark S&P 500 index slipped nearly 20% for the year.
• Stock is down 7.5% so far this year as of Tuesday's close.

Recent analysis on NEM:

" Newmont's takeover of Newcrest Mining and higher-than-expected operating costs have led to investor disappointment during 2023. The weakening U.S. dollar and an unexpected rise in commodity inflation could support Newmont's gold/silver/copper operating metrics going forward. Despite Fed tightening risks, Newmont shares are rated a Buy due to an approaching price breakout and its position as one of the largest global producers of precious metals ," writes SA contributor Paul Franke in a July 16 report .

" Rising Treasury yields and steady inflation expectations negatively impact gold prices and gold miners like Newmont Corporation. Newmont's recent acquisition of Newcrest Mining for $20 billion would further establish the company as the world's leading gold miner. Despite trading near fair value and having a mixed technical outlook, NEM could see higher EPS if gold prices remain high and yields fall. With a hold rating, I outline key price levels to watch as the July earnings date nears," writes SA contributor Mike Zaccardi in a June 7 report .

Other analyses : Newcrest Deal: Solidifying Newmont's Position As The Largest Gold Producer by Taylor Dart.

Newmont Corporation: Poor Stock Performance Should Be Addressed by Fun Trading, leader of the Investing Group " The Gold And Oil Corner " on Seeking Alpha.

Newmont, Hudbay raised to Buy at Barclays with merger integrations ahead .

Recent news on NEM : Canadian competition regulator clears Newmont's acquisition of Newcrest .

Newmont declares force majeure on Peñasquito mine products .

More on the gold sector:

• Gold settles at six-week high; Citigroup raises 2024 gold price forecast .
• $4000 Gold Is Still Possible After The Fed Starts Easing .
• BRICS Gold Standard Is A Big Opportunity .

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