Newmont Mining (NEM) Lagging In Pre-Market Activity
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.
Trade-Ideas LLC identified
(
) as a pre-market laggard candidate. In addition to specific proprietary factors, Trade-Ideas identified Newmont Mining as such a stock due to the following factors:
- NEM has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $180.5 million.
- NEM traded 10,476 shares today in the pre-market hours as of 9:11 AM.
- NEM is down 2.6% today from yesterday's close.
EXCLUSIVE OFFER: Get the inside scoop on opportunities in NEM with the Ticky from Trade-Ideas. See the FREE profile for NEM NOW at Trade-Ideas
More details on NEM:
Newmont Mining Corporation operates in the mining industry. It primarily acquires, develops, explores for, and produces gold, copper, and silver deposits. The company's operations and/or assets are located in the United States, Australia, Peru, Indonesia, Ghana, and New Zealand. The stock currently has a dividend yield of 0.4%. NEM has a PE ratio of 23.3. Currently there are 2 analysts that rate Newmont Mining a buy, 2 analysts rate it a sell, and 12 rate it a hold.
The average volume for Newmont Mining has been 9.6 million shares per day over the past 30 days. Newmont has a market cap of $12.8 billion and is part of the basic materials sector and metals & mining industry. The stock has a beta of -0.18 and a short float of 3.9% with 2.35 days to cover. Shares are up 33.3% year-to-date as of the close of trading on Wednesday.
Analysis:
rates Newmont Mining as a
. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that revenues have generally been declining.
Highlights from the ratings report include:
- Compared to where it was a year ago today, the stock is now trading at a higher level, reflecting both the market's overall trend during that period and the fact that the company's earnings growth has been robust. Despite the fact that it has already risen in the past year, there is currently no conclusive evidence that warrants the purchase or sale of this stock.
- NEWMONT MINING CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. This trend suggests that the performance of the business is improving. During the past fiscal year, NEWMONT MINING CORP turned its bottom line around by earning $1.10 versus -$5.21 in the prior year. This year, the market expects an improvement in earnings ($1.22 versus $1.10).
- The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Metals & Mining industry and the overall market on the basis of return on equity, NEWMONT MINING CORP has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
- NEM, with its decline in revenue, underperformed when compared the industry average of 2.5%. Since the same quarter one year prior, revenues slightly dropped by 7.8%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
- NEM's debt-to-equity ratio of 0.65 is somewhat low overall, but it is high when compared to the industry average, implying that the management of the debt levels should be evaluated further. Regardless of the somewhat mixed results with the debt-to-equity ratio, the company's quick ratio of 1.40 is sturdy.
- You can view the full Newmont Mining Ratings Report.
null