Newmont

NEM · NYSE

$116.81−$1.20 (−1.02%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $118.01

NEM analyst rating

BuyConsensus of 11 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy11
Hold0
Underperform0
Sell0

12-month price target · 26 analysts

Average $143.76 (+23.1% upside)

Low: $79.79
Now: $116.81
High: $215.25

Upgrades and downgrades

The latest rating actions, newest first

NEM analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citigroup	Oct 20, 2026	Maintains	Buy	$125.00 → $140.00	61%
Barclays	Oct 19, 2026	Maintains	Overweight	$124.00 → $123.00	57%
RBC Capital	Sep 16, 2026	Maintains	Outperform	$135.00 → $155.00	49%
Bernstein	Sep 9, 2026	Maintains	Outperform	$147.00 → $144.00	59%
Scotiabank	Aug 12, 2026	Maintains	Sector Outperform	$147.00 → $149.00	69%
Barclays	Jul 28, 2026	Maintains	Overweight	$125.00 → $124.00	57%
Barclays	Jul 16, 2026	Maintains	Overweight	$133.00 → $125.00	57%
Scotiabank	Jul 14, 2026	Maintains	Sector Outperform	$151.00 → $147.00	69%
TD Cowen	Jul 14, 2026	Upgrade	Hold → Buy	$129.00 → $127.00	100%
RBC Capital	Jul 9, 2026	Maintains	Outperform	$140.00 → $135.00	49%

The case for and against

Updated Mar 27, 2026

Bull case

Newmont, the world's largest gold miner, is expected to sell approximately 5.3 million ounces of gold in 2026 from its continuing operations, which positions the company favorably in an environment of rising gold prices projected to exceed $4,000 per ounce in the second half of 2026. The recent acquisition of Newcrest and the strategic divestiture of six higher-cost mines enhance Newmont's portfolio, securing about two decades' worth of gold reserves alongside substantial byproduct reserves. Furthermore, Newmont is anticipated to maintain sustainable free cash flow in the coming years, supported by increasing investments and higher incremental production, bolstering positive financial outlooks.

Bear case

Newmont has recently experienced a lag in share performance compared to its peers, raising concerns regarding its competitive positioning in the market. The company's downside scenario suggests a potential share price of US$41, driven by assumptions of lower long-term gold prices at US$2,500 per ounce. These factors, coupled with the recent challenges of integrating the Goldcorp and Newcrest acquisitions and the divestiture of higher-cost mines, contribute to a negative outlook for the stock.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.