2023-04-26 15:53:21 ET
Newmont ( NYSE: NEM ) is scheduled to announce Q1 earnings results on Thursday, April 27th, before market open.
The consensus EPS Estimate is $0.32 (-53.6% Y/Y) and the consensus Revenue Estimate is $2.7B (-10.6% Y/Y).
Over the last 2 years, NEM has beaten EPS estimates 25% of the time and has beaten revenue estimates 38% of the time.
Over the last 3 months, EPS estimates have seen 1 upward revision and 7 downward. Revenue estimates have seen 1 upward revision and 2 downward.
The miner in late February reported Q4 adj. earnings that narrowly missed estimates and posted a drop in revenue, hurt by lower gold prices and higher costs.
Gold prices have risen in Q1 amid worries over an economic slowdown and higher interest rates. The bullion traded above the $2K mark several times in the quarter.
Earlier this month, NEM and Barrick Gold ( GOLD ) were added as new long ideas at Hedgeye, which cited "macro-market dynamics" that pointed to more favorable conditions for a listed gold miner.
NEM stock is rated buy by both Wall Street analysts and Seeking Alpha's Quant system , while the SA Authors rating is hold.
Seeking Alpha's Quant system ranks NEM at number eight out of 44 companies in the gold industry.
Investors will be looking out for any updates from NEM on its takeover bid for Australia's Newcrest Mining ( OTCPK:NCMGF ).
NEM stock has risen a marginal 2.1% YTD.
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Newmont expected to post a fall in earnings per share and revenue for Q1