NEM

I reiterate Newmont Corporation as a Strong Buy with a $142 price target, implying a 52% upside from $93. The main growth drivers are the H2 production ramp, supportive copper and silver economics, and a development pipeline that could eventually contribute around $775 million of annual EBITDA. My valuation applies an 8x FWD EV/EBITDA multiple to an estimated 2026 adjusted EBITDA of about $18.2 billion, producing a price target of $142 per share.

Newmont (NEM) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.

Newmont Corporation is the world's largest gold producer, but operators of this scale face consistent challenges replacing production & reserves each year, creating greater hurdles on a per share growth basis. Fortunately, higher gold prices have helped to improve per share metrics, though, with strong Q2 '26 free cash flow generation despite higher costs, a surprise royalty hike & an operational setback. That said, NEM's strong H1 free cash flow benefited from a back-end weighted CapEx profile, and it enters Q3 with higher oil prices, lower gold prices & catch-up on CapEx.

Newmont Corporation maintains 2026 outlook as strong cash generation, production plans and capital returns highlight its Q2 earnings call.

Newmont Corporation (NYSE:NEM, TSX:NGT, ASX:NEM, XETRA:NMM) reported mixed results for the second quarter, with revenue falling short of expectations as the company generated record free cash flow and maintained its full-year production guidance. The gold miner reported adjusted earnings of $2.10 per diluted share for the quarter ended June 30, ahead of the consensus estimate of $2.05.

Newmont Corporation remains a buy, trading at under 10x normalized EPS with a compelling valuation despite technical weakness. NEM delivered record free cash flow and strong operational results, but faces headwinds from lower gold prices and a bearish technical setup. Management reaffirmed 2026 targets, projecting $8.5 billion in FCF and robust EPS growth, supported by aggressive share buybacks.

NEM beat Q2 adjusted earnings estimates as higher realized gold prices lifted revenue, while the company reaffirmed its 2026 production and cost guidance.

Newmont Corporation (NEM) Q2 2026 Earnings Call Transcript

Although the revenue and EPS for Newmont (NEM) give a sense of how its business performed in the quarter ended June 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Newmont NYSE: NEM said it remains on track to meet its full-year 2026 guidance after reporting a stronger-than-expected second quarter, supported by stable operations, higher realized gold prices and disciplined cost control across its global mining portfolio.