Jeremy Corbyn has stormed ahead of Theresa May in a new opinion poll just weeks after the Prime Minister failed to win a majority in the latest election.

Labour is five points ahead of the Tories at 46 per cent, found the Sunday Times.

The survey, which took a random sample of 5,000 people, also found that Ms May’s approval rating is at minus 17, a mirror opposite to Mr Corbyn’s plus 17.

Mr Corbyn stunned the pollsters and commentators when he gained 34 seats in the 8 June election, including constituencies like Kensington and Canterbury.

The Labour leader benefited from a strong turnout and youthful voters, to whom he appealed to during a speech at Glastonbury.

“Let us be together and recognise that another world is possible if we come together," he said, as the audience called out his name. "To understand that, understand the power we’ve got and achieve that decent, better society where everyone matters."

Ms May is reportedly planning to continue leading the Conservative Party with her chief of staff, Gavin Barwell.

Jeremy Corbyn's first Glastonbury in 60 seconds

She faces struggles to recruit a fresh team after the loss of both her former chiefs of staff, her communications director, press secretary and two policy experts.

According to the Sunday Times, some ministers are favouring Chancellor of the Exchequer Philip Hammond to replace Ms May before the party’s October conference, as part of an alliance with Brexit Secretary David Davis.

The Economist recently described Mr Hammond as the “designated adult” in the cabinet and “the Tory party’s most impressive leader-in-waiting.”

Rumours surfaced recently that Foreign Secretary Boris Johnson would announce his bid for the leadership, but he said the reports were “tripe”.