Newmont Stock Up as Gold Miner Forecasted to Beat Q4 Estimates Despite Broader Market Declines
• Newmont Corporation (NEM) stock closed up 1.32% while broader markets declined • NEM is forecasted to report lowered but still positive Q4 2022 EPS of $0.39 • Full-year 2022 earnings and revenue estimates for NEM have been revised upward to $1.88 per share and $15 billion • NEM currently trades at a forward P/E ratio of 19.76, representing a premium versus industry average of 17.17 • NEM belongs to the Basic Materials sector, specifically the Mining - Miscellaneous industry, which ranks in the bottom 39% of Zacks industries