Newmont Corporation is a best-in-class gold miner with a perfect Piotroski F-Score of 9 out of 9, Rule of 40 score of 85, wide economic moat, 26% return on equity, 46% revenue growth, and a 4-quarter perfect earnings beat streak averaging 24.9% positive surprise — making it one of the highest-conviction quality-growth combinations in the materials sector — though concentrated gold exposure at 85% of revenue ties the thesis to commodity price direction.
Thesis pillars
- Gold Commodity Concentration Risk↑Improving
- Analyst Upside And Attractive Valuation↑Improving
- Elite Quality Compounder Metrics→Stable
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 19, 2026
Newmont Corporation (NEM) Stock Analysis
Range Bound setup · Sector Rotation edge
Basic Materials · Gold
Wait for pullback to $109.81. At $113.92 the A.R:R is 1.1:1 — below the 1.5:1 minimum for BUY_NOW. Engine's entry $109.81 (Atr Pullback Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Concentration risk — Commodity: gold (85.0%); Thin upside margin: 7.2%.
Newmont Corporation is primarily a gold producer with operations across 12 countries including the United States, Papua New Guinea, Australia, Ghana, Peru, and Mexico, holding 118.2 million ounces of attributable proven and probable gold reserves at year-end 2025. Revenue is... Read more
Wait for pullback to $109.81. At $113.92 the A.R:R is 1.1:1 — below the 1.5:1 minimum for BUY_NOW. Engine's entry $109.81 (Atr Pullback Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Concentration risk — Commodity: gold (85.0%); Thin upside margin: 7.2%. Chart setup: RSI 47 mid-range, Bollinger mid-band. Growth is cheap relative to earnings, but the technical setup has not yet produced a breakout above resistance (PEG 0.94, quality 9.1/10, growth 8.2/10). Score 6.7/10, moderate confidence.
Passes 6/9 gates (positive momentum, clean insider activity, news events none recent, earnings proximity 112d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: moderate.
About Newmont Corporation
About Newmont Corporation
Newmont Corporation produced 5,530 thousand consolidated gold ounces in 2025 from 12 managed mining operations across the United States, Papua New Guinea, Australia, Ghana, Suriname, Argentina, Dominican Republic, Chile, Peru, Mexico, and Canada, plus a 38.5% stake in Nevada Gold Mines. Gold accounted for 85% of total Sales in 2025, with copper contributing 6%, silver 5%, zinc 3%, and lead 1%. Attributable proven and probable gold reserves stood at 118.2 million ounces at December 31, 2025.
Newmont sells refined gold at spot prices set by the London Bullion Market Association and explicitly does not engage in hedging transactions for gold, copper, silver, lead, or zinc, leaving revenue directly exposed to commodity prices. Average gold prices rose from $1,941 per ounce in 2023 to $2,386 in 2024 to $3,432 in 2025, a trend that has significantly expanded margins at the company's scale. Copper, silver, lead, and zinc co-products from operations including Peñasquito in Mexico, Cadia and Boddington in Australia, and Red Chris in Canada are sold in concentrate to smelters and traders rather than refined to doré. Production costs are driven by ore grade, processing method — carbon-in-leach for oxide ores, autoclaves or roasters for refractory sulfide ores — and input costs including energy, labor, and equipment. Newmont ranks as the top gold producer with approximately 5% of estimated total worldwide mined gold production, with cost competitiveness anchored in ore body grade and favorable mining jurisdictions.
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The company's unhedged posture means gold price direction has an outsized effect on results. By February 12, 2026, the LBMA afternoon price had reached $5,043 per ounce — well above the 2025 average of $3,432 — but the 10-K warns that a sustained decline could force removal of ores that can no longer be economically processed, reduce funds available for exploration, and halt development of new projects. Ongoing environmental reclamation obligations, including GISTM conformance for tailings facilities, add long-term cost commitments that persist regardless of the commodity cycle.
See also: Basic Materials · Gold
From Newmont Corporation's most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated 2026-10-29Recent Developments — Newmont Corporation
Latest news
- NEWS Newmont (NEM) Could Be 31% Undervalued On Record Free Cash Flow And Gold Price Swings - Simply Wall Street — Simply Wall Street positive
- NEWS Newmont (NEM) Could Be 31% Undervalued On Record Free Cash Flow And Gold Price Swings - simplywall.st — simplywall.st positive
- NEWS Here's Why Newmont Corporation (NEM) Fell More Than Broader Market - Yahoo Finance — Yahoo Finance negative
- NEWS Here's Why Newmont Corporation (NEM) Fell More Than Broader Market - finance.yahoo.com — finance.yahoo.com negative
- NEWS Newmont (NEM) Stock Looks Priced Above Its Cash Flow Outlook - Yahoo Finance — Yahoo Finance negative
Generated 2026-10-29T11:14:34Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHCommoditygold85%10-K Item 1: '85%, 85% and 89%, respectively, of our Sales were attributable to gold'
Material Events(8-K, last 90d)
- 2026-04-28Item 5.02MEDIUMEVP and Chief Technical Officer Francois Hardy notified Newmont on April 24, 2026 of retirement effective June 30, 2026, after 24 years. Acting CTO Erin Workman (Group Head, Exploration & Geosciences) steps in effective May 2026; permanent successor search underway.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker·1 ceiling hit
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Wait for pullback to $109.81. At $113.92 the A.R:R is 1.1:1 — below the 1.5:1 minimum for BUY_NOW. Engine's entry $109.81 (Atr Pullback Sticky) is the shallowest technical level that clears the 2:1 A.R:R minimum. Key risks: Concentration risk — Commodity: gold (85.0%); Thin upside margin: 7.2%. Chart setup: RSI 47 mid-range, Bollinger mid-band. Growth is cheap relative to earnings, but the technical setup has not yet produced a breakout above resistance (PEG 0.94, quality 9.1/10, growth 8.2/10). Target $122.09 (+7.2%), stop $103.75 (−9.8%), A.R:R 1.1:1. Score 6.7/10, moderate confidence.
Take-profit target: $122.09 (+7.2% upside). Target $122.09 (+7.2%), stop $103.75 (−9.8%), A.R:R 1.1:1. Stop-loss: $103.75.
Concentration risk — Commodity: gold (85.0%); Thin upside margin: 7.2%; Sector modifier (Basic Materials): -0.1.
Newmont Corporation trades at a P/E of 13.2 (forward 11.3). TrendMatrix value score: 7.6/10. Verdict: Buy (Wait for Entry).
31 analysts cover NEM with a consensus score of 4.2/5. Average price target: $136.
What does Newmont Corporation do?Newmont Corporation is primarily a gold producer with operations across 12 countries including the United States, Papua...
Newmont Corporation is primarily a gold producer with operations across 12 countries including the United States, Papua New Guinea, Australia, Ghana, Peru, and Mexico, holding 118.2 million ounces of attributable proven and probable gold reserves at year-end 2025. Revenue is primarily derived from gold sales, which represented 85% of total Sales in 2025, supplemented by copper, silver, lead, and zinc co-products. The company produced 5,530 thousand consolidated gold ounces in 2025.