Has Apple (AAPL) Outpaced Other Computer and Technology Stocks This Year?
Investors are always looking for stocks that are poised to beat at earnings season and Newmont Mining Corporation NEM may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Newmont Mining is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for NEM in this report.
Analysts have very recently bumped up their estimates for NEM, giving the stock a Zacks Earnings ESP of +2.86% heading into earnings season.
Newmont Mining Corporation Price and EPS Surprise
Newmont Mining Corporation Price and EPS Surprise | Newmont Mining Corporation Quote
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that NEM has a Zacks Rank #3 (Hold) and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Newmont Mining, and that a beat might be in the cards for the upcoming report.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Click here to see them >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Newmont Mining Corporation (NEM) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research