UBS raised Newmont price target on positive capital returns outlook. Analyst price target increase can shift short-term investor sentiment and trading activity for Newmont shares.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | 2 | 1 | — | 2 | 5 | 1 | 3 | 2 | 1 | 3 | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 1.05 |
—
—
—
|
| 2025 | 1.00 |
—
—
—
—
|
| 2024 | 1.00 |
—
—
—
—
|
| 2023 | 1.60 |
—
—
—
—
|
| 2022 | 2.20 |
—
—
—
—
|
| 2021 | 2.20 |
—
—
—
—
|
| 2020 | 1.04 |
—
—
—
—
|
| 2019 | 0.56 |
—
—
—
—
—
|
| 2018 | 0.56 |
—
—
—
—
|
| 2017 | 0.25 |
—
—
—
—
|
| 2016 | 0.13 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 3,025.00 | 3,640.00 | 8,241.00 | 9,009.00 |
| Receivables | 734.00 | 1,552.00 | 1,745.00 | 1,178.00 |
| Inventory | 1,663.00 | 1,423.00 | 1,512.00 | 1,478.00 |
| Other | 2,090.00 | 5,660.00 | 1,568.00 | 1,641.00 |
| 7,512.00 | 12,275.00 | 13,066.00 | 13,306.00 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 960.00 | 843.00 | 816.00 | 906.00 |
| ST’ Debt | 1,923.00 | 924.00 | — | — |
| Other | 2,913.00 | 5,288.00 | 3,590.00 | 2,916.00 |
| 5,998.00 | 7,543.00 | 5,712.00 | 5,226.00 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 7,307.00 | 6,118.00 | — | — |
—
|
| ’25 | 5,010.00 | 5,317.00 | 5,524.00 | 6,818.00 |
22,669.00
|
| ’24 | 4,023.00 | 4,402.00 | 4,605.00 | 5,652.00 |
18,682.00
|
| ’23 | 2,679.00 | 2,683.00 | 2,493.00 | 3,957.00 |
11,812.00
|
| ’22 | 3,023.00 | 3,058.00 | 2,634.00 | 3,200.00 |
11,915.00
|
| ’21 | 2,872.00 | 3,065.00 | 2,895.00 | 3,390.00 |
12,222.00
|
| ’20 | 2,581.00 | 2,365.00 | 3,170.00 | 3,381.00 |
11,497.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 3,785.00 | 2,924.00 | — | — |
—
|
| ’25 | 2,031.00 | 2,384.00 | 2,298.00 | 3,621.00 |
10,334.00
|
| ’24 | 776.00 | 1,428.00 | 1,648.00 | 2,511.00 |
6,363.00
|
| ’23 | 481.00 | 663.00 | 1,003.00 | 616.00 |
2,763.00
|
| ’22 | 694.00 | 1,043.00 | 473.00 | 1,010.00 |
3,220.00
|
| ’21 | 841.00 | 995.00 | 1,144.00 | 1,299.00 |
4,279.00
|
| ’20 | 936.00 | 664.00 | 1,596.00 | 1,686.00 |
4,882.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 3,235.00 | 2,214.00 | — | — |
—
|
| ’25 | 2,889.00 | 2,701.00 | 1,685.00 | 2,835.00 |
10,110.00
|
| ’24 | (74.00) | 808.00 | 921.00 | 1,866.00 |
3,521.00
|
| ’23 | (45.00) | 47.00 | 399.00 | (304.00) |
97.00
|
| ’22 | 257.00 | 524.00 | (56.00) | 380.00 |
1,105.00
|
| ’21 | 505.00 | 580.00 | 746.00 | 942.00 |
2,710.00
|
| ’20 | 1,729.00 | 398.00 | 1,302.00 | 1,307.00 |
4,736.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 3.00 | 2.06 | — | — |
—
|
| ’25 | 1.68 | 1.85 | 1.67 | 1.19 |
6.39
|
| ’24 | 0.15 | 0.74 | 0.80 | 1.24 |
2.92
|
| ’23 | 0.44 | 0.19 | 0.20 | (3.21) |
(2.94)
|
| ’22 | 0.56 | 0.49 | 0.27 | (1.86) |
(0.54)
|
| ’21 | 0.70 | 0.81 | 0.00 | (0.06) |
1.46
|
| ’20 | 1.02 | 0.43 | 1.04 | 1.02 |
3.51
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 37.45 | 33.59 | 29.42 | 37.68 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 86.37 | 55.41 | 58.72 | 106.34 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14,600 | 21,700 | 22,200 | 17,500 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.82 | 0.54 | 0.84 | 1.30 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 11,915.00 | 11,812.00 | 18,682.00 | 22,669.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 45.72% | 43.29% | 52.02% | 64.33% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (51.00) | (2,031.00) | 4,577.00 | 11,342.00 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.43%) | (17.19%) | 24.50% | 50.03% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (369.00) | (2,467.00) | 3,381.00 | 7,167.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,185.00 | 2,108.00 | 2,576.00 | 2,521.00 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 15.01 | 14.05 | 16.30 | 20.50 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | (0.54) | (2.94) | 2.92 | 6.41 | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.06 | 3.29 | 5.55 | 9.34 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2.66) | (3.17) | (2.48) | (0.20) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.39 | 0.12 | 3.07 | 9.14 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 24.60 | 34.73 | 26.27 | 30.78 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 794.00 | 841.00 | 1,146.00 | 1,106.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.00 | 0.00 | 12.70 | 15.60 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.30 | 2.91 | 2.28 | 4.87 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.02 | 1.18 | 1.42 | 3.24 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.51 | 3.45 | 2.56 | 4.79 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 32.86 | 145.89 | 13.54 | 10.74 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3,220.00 | 2,763.00 | 6,363.00 | 10,334.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2,115.00) | (2,666.00) | (2,842.00) | (224.00) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,105.00 | 97.00 | 3,521.00 | 10,110.00 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3,589.00 | 1,514.00 | 4,732.00 | 7,354.00 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6,158.00 | 9,322.00 | 8,865.00 | 5,471.00 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,401.00 | 6,297.00 | 5,225.00 | (2,770.00) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 19,533.00 | 29,205.00 | 30,109.00 | 34,042.00 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.09%) | (5.31%) | 5.99% | 12.49% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.58% | (2.99%) | 8.01% | 21.91% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2.08%) | (10.23%) | 11.29% | 22.09% | — | — | — |
ROE
|
Newmont Corporation (NEM), the gold mining behemoth, has bulked up dramatically with revenues surging 180% to $18.68 billion in 2024, turbocharged by the $16 billion Newcrest acquisition that expanded its tier-1 assets and production scale. Echoing the 2008-2011 gold bull, today’s near-record prices—fueled by inflation, geopolitics, and central bank hoarding—have flipped EPS from deep losses to $2.92, with free cash flow exploding 2,500% and forecasts eyeing $7-10+ EPS through 2027 amid $2,500+ gold projections. Yet, dilution from share issuance and capex discipline remain wild cards in this revenue-per-share ramp-up.
Valuation looks tame at 12.7x PE and attractive EV/FCF multiples versus history, with analysts clustering targets near fair value and modest upside—hardly a screaming buy in a sector notorious for boom-bust cycles. Balance sheet fortification offers buffers, but elevated net debt and ROE still lagging peaks signal leverage risks if rates bite.
Here’s the contrarian hook: zero insider buys amid $3.5 million in sells by execs and the CEO, mirroring pre-pullback patterns like 2022’s 50% wipeout. While bulls dream of cash-machine status, gold’s 0.8+ correlation to NEM returns, ESG minefields, and taper-tantrum echoes scream caution—allocate sparingly on dips, as timing trumps scale in this finite-metal game. Dive deeper for the full risk-reward dissection.
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