Track market-moving stories before they get noisy

Key Takeaways NEM maintained 2026 production guidance of 5.3 million attributable gold ounces.Newmont returned more than 80% of quarterly free cash flow for a second consecutive quarter.NEM advanced Cadia recovery and Red Chris plans while managing costs and project investments. Newmont Corporation (NEM - Free Report) maintained its 2026 outlook as stronger portfolio execution and elevated gold prices supported substantial cash generation despite rising fuel costs and disruptions at Cadia.

Management’s central message was that operating discipline, a strong balance sheet and a repeatable capital allocation framework can sustain project investment and shareholder returns through changing market conditions.

NEM Maintains Full-Year Production GuidancePresident and chief executive officer Natascha Viljoen said Newmont remains on track to produce approximately 5.3 million attributable gold ounces in 2026. Second-quarter production totaled 1.3 million ounces.

Production modestly exceeded management’s April expectations because Yanacocha and Lihir delivered about 50,000 ounces earlier than planned. That timing shifted the expected annual production split to 49% in the first half and 51% in the second half.

Viljoen expects third-quarter production to remain broadly in line with the second quarter. The fourth quarter should be the year’s strongest as Lihir completes maintenance and Ahafo North reaches its full operating rate.

Newmont Faces Higher Near-Term Unit CostsExecutive vice president and chief financial officer Brian Tabolt said third-quarter unit costs should rise moderately as sustaining capital increases by approximately $150 million sequentially.

Oil and diesel remain important pressure points. Tabolt told a Jefferies analyst that every $10-per-barrel change in oil carries an estimated $60 million full-year impact, while higher freight could affect explosives, cyanide and grinding media.

Management nevertheless retained its 2026 guidance of $1,055 per ounce for gold by-product costs applicable to sales and $1,680 per ounce for all-in sustaining costs. Viljoen cited reduced equipment use, lower contractor reliance and site-level productivity programs as offsets.

NEM Targets a Fourth-Quarter Production PickupViljoen said second-half growth should come primarily from Boddington, Tanami, Lihir, Cerro Negro and Brucejack. Ahafo North is expected to increase sequentially through the year.

During the analyst discussion, a Goldman Sachs representative asked how Newmont intends to rebuild annual production toward 6 million ounces.

Viljoen said the path is not heavily dependent on Cadia’s new caves. She pointed to Ahafo North, higher-grade areas at Boddington and Lihir, and expansion opportunities at Cerro Negro and Tanami as additional contributors.

Newmont Advances Cadia Recovery and Red ChrisThe two operating caves at Cadia returned to production in mid-June after the April seismic event. Development work has resumed, although regulatory approval is still required to restart cave establishment at PC1-2 and PC2-3.

Viljoen told a CIBC analyst that mature caves had returned to background seismicity. Newmont is updating models and safety controls before restarting development activities that carry greater seismic exposure.

At Red Chris, major regulatory approvals are now in place. Management expects capital requirements to exceed earlier Newcrest estimates but said design improvements have reduced project risk and strengthened economics ahead of a potential year-end board decision.

NEM Keeps Returning Excess CashTabolt said Newmont generated $2.2 billion of free cash flow and returned more than 80% of quarterly free cash flow for a second consecutive quarter.

The company repurchased $1.7 billion of shares since its previous earnings call, including more than $600 million in July. Approximately $4.3 billion remains under the current authorization.

Repurchases have reduced the share count by more than 100 million shares, or approximately 9%, over two years. Tabolt said the lower count could support a quarterly dividend of 27 cents at the next annual review, subject to board approval.

Newmont Balances Investment and Financial FlexibilityManagement retained sustaining and development capital guidance of $1.95 billion and $1.4 billion, respectively. Spending is weighted toward the second half as work accelerates at Cadia, Lihir, Tanami, Red Chris and Cerro Negro.

Newmont ended the quarter with $3.4 billion of net cash, above the upper end of its targeted range. Excess cash is directed toward repurchases after sustaining investment, dividends, development projects and balance-sheet priorities are funded.

Adjusted earnings of $2.1 per share exceeded the Zacks Consensus Estimate of $2.05. Revenues of $6.12 billion fell short of the $6.35 billion consensus.

NEM’s Priorities After the CallManagement’s tone was confident on full-year delivery but guarded about energy inflation, third-quarter costs and the timing of regulatory approvals.

The operating focus remains on consistent production, Cadia’s safe recovery, productivity improvements and disciplined project development. Capital allocation continues to emphasize financial flexibility and ratable shareholder returns.

Zacks Signals Present a Conflicted ProfileNEM currently carries a Zacks Rank #4 (Sell), indicating an unfavorable earnings-estimate revision trend. That signal takes precedence over an otherwise strong Growth and VGM Score of A each and a Value Score of B.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Momentum Score of F adds another weak element to the near-term setup. The Zacks Rank can change as analysts revise estimates following the newly reported results, so the current combination should not be viewed as permanent.

American Resources Corp (NASDAQ:AREC) announced on Friday that its board of directors has approved a special cash dividend of $0.0431 per share as the company returns capital to shareholders while continuing to invest in its critical minerals business.

The dividend will be paid on August 25, 2026, to shareholders of record as of August 15, 2026.

The company stated that the special dividend reflects its financial position, capital allocation strategy and confidence in its ability to fund future growth opportunities while returning capital to long-term shareholders.

American Resources also noted that its board believes the company's current market valuation does not fully reflect the value of its cash position, strategic investments and ownership interests, as well as opportunities across its critical minerals platform.

American Resources CEO Mark Jensen highlighted the company's balance sheet, its minority ownership interest in ReElement Technologies, majority ownership of Electrified Materials, ongoing negotiations with the US Department of Energy related to coal-based critical mineral byproduct initiatives, and its pipeline of rare earth and critical mineral feedstock sourcing opportunities.

Jensen also noted that the company has repositioned its business over the past two years to focus on supplying feedstocks and owning critical mineral assets while leveraging ReElement Technologies' refining platform.

"This special dividend, together with our recently authorized share repurchase program, reflects our commitment to disciplined capital allocation,” Jensen said.

“We believe we have the financial flexibility to continue investing in attractive growth opportunities while simultaneously returning capital to shareholders when we believe the market does not fully recognize the intrinsic value of our business."

American Resources said it has transformed its business in recent years through the separation and repositioning of ReElement Technologies, strengthening its balance sheet, expanding Electrified Materials Corp.'s feedstock aggregation platform and advancing domestic critical mineral initiatives. The company stated that these efforts have created a portfolio of strategic assets while maintaining flexibility to pursue additional investments.

Key Takeaways Newmont beat Q2 adjusted earnings estimates despite revenue missing expectations. NEM's higher realized gold prices offset lower gold sales volumes, lifting quarterly revenue. Newmont reaffirmed 2026 guidance for gold production, CAS and AISC. Newmont Corporation (NEM - Free Report)  reported second-quarter 2026 earnings of $2.06 per share compared with $1.85 in the year-ago quarter. 

Barring one-time items, adjusted earnings were $2.10 per share, up 46.9% from $1.43 reported in the prior-year quarter. The figure topped the Zacks Consensus Estimate of $2.05.  

Newmont’s revenues for the second quarter were roughly $6.12 billion, up 15.1% from the prior-year quarter. The figure missed the Zacks Consensus Estimate of $6.35 billion. The year-over-year improvement in the top line was primarily driven by higher realized gold prices, partly offset by lower gold sales volumes.  

Newmont Corporation Price, Consensus and EPS SurpriseOperational HighlightsNewmont’s attributable gold production in the second quarter was roughly 1.29 million ounces, down 12.5% year over year. The figure surpassed our estimate of 1.23 million.  

The average realized price of gold rose around 33% year over year to $4,414 per ounce. The figure lagged our estimate of $4,913 per ounce. 

The company’s CAS for gold on a co-product basis was $1,463 per ounce, up 20.4% year over year. The figure outpaced our estimate of $1,228.8 per ounce. 

AISC for gold on a co-product basis increased around 21.7% year over year to $1,938 per ounce. The figure beat our estimate of $1,881 per ounce. 

FinancialsThe company ended the quarter with cash and cash equivalents of roughly $9 billion, up 45.7% year over year. At the end of the quarter, Newmont had debt of around $5.08 billion, down 28.7% year over year.  

Net cash provided by operating activities amounted to $2.92 billion in the reported quarter, up 22.7% from $2.38 billion in the year-ago quarter. Free cash flow increased to $2.21 billion from $1.71 billion a year earlier.  

OutlookNewmont remains on track to achieve its previously announced 2026 guidance. The company expects attributable gold production of approximately 5.26 million ounces. It also projects gold by-product CAS of $1,055 per ounce and gold by-product AISC of $1,680 per ounce. 

General and administrative expenses for 2026 are expected to be around $375 million. Reclamation and remediation accretion is projected at approximately $385 million, while exploration and advanced-project expenses are anticipated to total $525 million. 

NEM’s Price PerformanceShares of Newmont have gained 44% over the past year compared with a 39.2% rise in its industry. 

Image Source: Zacks Investment Research

NEM’s Zacks Rank & Key PicksNEM currently carries a Zacks Rank #4 (Sell). 

Some better-ranked stocks in the Basic Materials space are CSW Industrials, Inc. (CSW - Free Report) , Carpenter Technology Corporation (CRS - Free Report)  and Ternium S.A. (TX - Free Report) .  

CSW Industrials is expected to report second-quarter results on July 30. The Zacks Consensus Estimate for CSW’s second-quarter earnings is pegged at $3.66 per share. It carries a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here. 

CRS is slated to report second-quarter results on July 30. The Zacks Consensus Estimate for earnings is pegged at $3.03 per share. CRS has a Zacks Rank #1 at present.

Ternium is scheduled to report second-quarter results on Aug. 4. The Zacks Consensus Estimate for TX’s second-quarter earnings is pegged at $1.06 per share. It currently carries a Zacks Rank #1.

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.

Revenue rose 15.1% year over year to $6.12 billion but missed analyst expectations of approximately $6.35 billion.

Net income totaled $2.2 billion, while adjusted EBITDA reached $3.8 billion. The company generated $2.9 billion in operating cash flow, excluding working capital impacts of $90 million, and reported record quarterly free cash flow of $2.2 billion.

Newmont produced approximately 1.3 million attributable gold ounces during the quarter, along with 7 million ounces of silver and 17,000 tonnes of copper, keeping the company on track to meet its full-year production guidance of 5.3 million attributable gold ounces.

Gold costs applicable to sales were $1,043 per ounce, while all-in sustaining costs were $1,621 per ounce. The company noted that year-to-date costs remain below its full-year cost guidance.

During the quarter, the company also received key regulatory approvals from the Province of British Columbia for the Red Chris Block Cave project, including an amended Environmental Assessment Certificate and an amended Mines Act permit, advancing the project toward a final investment decision.

"Newmont delivered another quarter of strong operational and financial performance, producing approximately 1.3 million attributable gold ounces and generating record second quarter free cash flow of $2.2 billion, while remaining on track to achieve our full-year 2026 guidance,” Newmont CEO Natascha Viljoen said in a statement.

Newmont’s shares were set to open about 1.5% higher at about $95 on Friday.

Posted by Defense World Staff on Jul 24th, 2026

Bank of Nova Scotia reduced its stake in Newmont Corporation (NYSE:NEM – Free Report) by 46.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,522,666 shares of the basic materials company’s stock after selling 1,345,458 shares during the period. Bank of Nova Scotia owned approximately 0.14% of Newmont worth $164,834,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of NEM. Norges Bank bought a new stake in shares of Newmont during the 4th quarter worth approximately $1,443,128,000. Van ECK Associates Corp raised its position in Newmont by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 29,780,063 shares of the basic materials company’s stock valued at $2,973,539,000 after purchasing an additional 5,643,496 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Newmont by 110.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,743,228 shares of the basic materials company’s stock valued at $873,011,000 after purchasing an additional 4,588,018 shares in the last quarter. AQR Capital Management LLC lifted its stake in Newmont by 82.5% during the fourth quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock worth $739,117,000 after purchasing an additional 3,345,543 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Newmont by 398.3% during the fourth quarter. Assetmark Inc. now owns 2,870,495 shares of the basic materials company’s stock worth $286,619,000 after purchasing an additional 2,294,396 shares during the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Newmont Stock Performance Newmont stock opened at $94.57 on Friday. The business has a 50 day moving average of $100.25 and a 200-day moving average of $110.06. The company has a market capitalization of $100.95 billion, a P/E ratio of 12.27, a P/E/G ratio of 1.14 and a beta of 0.46. Newmont Corporation has a 1 year low of $59.96 and a 1 year high of $134.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Newmont (NYSE:NEM – Get Free Report) last posted its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05. Newmont had a net margin of 33.87% and a return on equity of 27.84%. During the same quarter last year, the business posted $1.43 EPS. On average, equities research analysts predict that Newmont Corporation will post 8.9 earnings per share for the current year.

Analysts Set New Price Targets Several brokerages have commented on NEM. Canaccord Genuity Group boosted their target price on Newmont from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Raymond James Financial decreased their price target on shares of Newmont from $139.00 to $137.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. BMO Capital Markets lowered their price objective on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating for the company in a research report on Tuesday, June 23rd. Bank of America dropped their price objective on shares of Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Finally, Weiss Ratings lowered shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $136.26.

Get Our Latest Report on NEM

Newmont News Roundup Here are the key news stories impacting Newmont this week:

Positive Sentiment: Newmont posted Q2 earnings of $2.10 per share, topping estimates, and said it generated record second-quarter free cash flow of $2.2 billion. Newmont Reports Robust Second Quarter 2026 Results; Remains on Track to Achieve Full Year Guidance Positive Sentiment: The company produced about 1.3 million attributable gold ounces and reaffirmed full-year production guidance, signaling stable operating performance despite weaker gold prices. Newmont Reports Higher Profit Despite Lower Gold Prices Positive Sentiment: Management also declared a quarterly dividend of $0.261 per share, which may support investor sentiment. Newmont Reports Robust Second Quarter 2026 Results; Remains on Track to Achieve Full Year Guidance Neutral Sentiment: Several reports highlighted that Newmont is benefiting from still-favorable gold pricing overall, though the metal has recently corrected and remains a key driver of near-term sentiment. Newmont tops profit estimates on higher gold prices, sees steady output Negative Sentiment: Gold prices fell sharply during the quarter, which could weigh on future revenue and explains some of the stock’s recent volatility. Newmont shrugs off 13% gold-price correction with record second-quarter free cash flow, tops earnings estimates Insider Buying and Selling In other news, EVP Peter Toth sold 3,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $92.38, for a total value of $277,140.00. Following the completion of the sale, the executive vice president owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. This represents a 6.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David John Thornton sold 2,296 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the sale, the insider directly owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This represents a 9.02% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 28,556 shares of company stock valued at $3,058,146. Company insiders own 0.06% of the company’s stock.

Newmont Company Profile (Free Report)

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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Gold and Silver Recovery—3 Precious Metals Stocks for H2 2026Newmont 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.

President and CEO Natascha Viljoen said the company produced 1.3 million ounces of gold, 17,000 tons of copper and 7 million ounces of silver during the quarter. Newmont generated $2.9 billion in cash flow from operations after working capital and a second-quarter record $2.2 billion in free cash flow.

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Gold’s 2026 Rally Has Cracked—Is It Time to Buy the Pullback?“Newmont delivered a strong second quarter and remains on track to achieve full-year 2026 guidance, supported by disciplined execution across the portfolio and continued momentum as we head into the second half of the year,” Viljoen said.

Executive Vice President and CFO Brian Tabolt said Newmont generated $3.8 billion of adjusted EBITDA and adjusted net income of $2.10 per share. The company realized an average gold price of $4,414 per ounce during the quarter.

Production Pulls Forward From Second Half Golden Ceasefires: Forget Fear, It's About the Global Reset Viljoen said second-quarter operational performance was modestly ahead of expectations, largely because some ounces initially expected in the third quarter were produced earlier than planned. The key contributors were Yanacocha and Lihir, which together delivered roughly 50,000 ounces that had been expected in the second half.

Lihir benefited from ongoing asset reliability work, while Newmont also cited stable performance from its Nevada Gold Mines joint venture. The company now expects about 49% of full-year production to have been delivered in the first half and 51% in the second half.

Newmont expects third-quarter production across the portfolio to be broadly in line with the second quarter before increasing in the fourth quarter, which Viljoen said is still expected to be the company’s strongest quarter of the year. The fourth-quarter increase is expected as Lihir completes planned maintenance in the third quarter and Ahafo North reaches its full run rate.

During the Q&A session, Viljoen said Ahafo North’s long-term operating level is expected to be 350,000 ounces per year.

Costs Remain Within Guidance Despite Oil Pressure Newmont said cost pressures increased during the second quarter, largely as expected, due in part to higher oil prices. Tabolt said gold all-in sustaining costs were $1,621 per ounce on a byproduct basis, below the company’s full-year guidance of $1,680 per ounce.

Tabolt said unit costs rose sequentially from the first quarter because of lower gold and silver production and sales volumes, lower byproduct contribution, higher Ghana royalties and higher diesel prices. He said Newmont continues to monitor oil-related pressures and their potential effects on explosives, cyanide, grinding media, labor, contractor spending and freight.

“For every $10 per barrel change in the price of oil, you’ll see on a full-year basis about a $60 million impact,” Tabolt said.

Viljoen highlighted several productivity initiatives aimed at offsetting external cost pressures, including parking nearly 50 mining production units across the portfolio without affecting production. She also cited increased underground productive time at Cerro Negro, milling efficiency improvements at Ahafo North, better wet-weather preparedness at Merian and reduced contract utilization where possible.

In response to analyst questions, Viljoen said open-pit operations with large fleets, including Boddington, Peñasquito, Lihir and Merian, are among the assets most exposed to energy costs. She said productivity improvements at those sites have reduced consumption.

Capital Spending Weighted to Second Half Newmont expects sustaining capital spending to be about 58% weighted toward the second half of 2026, driven by the timing of work at Boddington and Cadia, ventilation work at Tanami and seasonal construction at Brucejack and Red Chris. Development capital is expected to be 63% weighted toward the second half, reflecting work at major projects and feasibility activity at Red Chris.

Tabolt said Newmont remains on track for full-year sustaining capital guidance of $1.95 billion and development capital guidance of $1.4 billion. He said sustaining capital is expected to increase by roughly $150 million from the second quarter to the third quarter, with a similar increase in development capital.

At Cadia, Viljoen said production from the operating caves resumed in mid-June following an April 14 seismic event. Development work has returned to normal levels at PC1-2, but cave establishment at PC1-2 and PC2-3 remains halted pending regulatory approvals and additional safety work.

Viljoen said the existing operating caves have returned to background seismicity, while cave establishment work naturally involves higher seismic activity and requires additional controls. Newmont continues to expect no impact on full-year production guidance from the Cadia event.

Red Chris Advances Toward Investment Decision Newmont said the Red Chris block caving project received key regulatory approvals from the province of British Columbia, including an amended environmental assessment certificate through a consent-based process with the Tahltan Nation.

Viljoen said the company is now focused on completing the feasibility study and advancing the project toward board approval and a final investment decision. During the Q&A session, she said the project is undergoing internal technical and financial review to ensure it meets Newmont’s standards and hurdle rates.

She said expected capital costs are higher than the original numbers under Newcrest, primarily because of inflationary pressures across the project development sector. However, she said Newmont has used the feasibility process to improve design, reduce risk and improve economics, including lessons learned from a fall-of-ground incident last September.

Viljoen said Newmont expects to complete the review toward the end of the year for board consideration, but added that the company would delay “a month or three” if needed to ensure it can meet any capital and timing commitments.

Asked about a $500 million investment from the Canadian government, Viljoen said Newmont is still working on a memorandum of understanding with Canada’s major projects office to determine the terms and conditions of the grant.

Shareholder Returns and Portfolio Outlook Newmont returned approximately $1.8 billion to shareholders during the quarter through dividends and share repurchases, and about $1.9 billion since its prior earnings call, including July repurchases. Tabolt said the company has returned more than 80% of free cash flow for two consecutive quarters.

The company declared a quarterly dividend of $0.26 per share. Tabolt said Newmont repurchased $1.7 billion of shares under the $6 billion authorization approved in April, including more than $600 million in July to date, leaving about $4.3 billion available. Since launching its repurchase program more than two years ago, Newmont has reduced its share count by more than 100 million shares, or approximately 9%.

Newmont ended the quarter with $3.4 billion of net cash, modestly above the upper end of its target range of $1 billion plus or minus $2 billion. Tabolt said the position may fluctuate as the company funds capital programs, pays dividends and returns excess cash through buybacks.

Viljoen also addressed Newmont’s discussions with Barrick over Nevada Gold Mines, saying the company has been engaged for several months to address legal, technical and commercial differences related to joint venture management, past performance, a proposed IPO and excluded property contribution processes. She said several key issues remain unresolved but that Newmont remains committed to protecting shareholder rights and enforcing its legal rights if required.

Looking ahead, Viljoen said Newmont’s 12 managed operations remain part of the portfolio as long as they compete for capital and fit the company’s definition of world-class assets. She pointed to brownfield opportunities at Lihir, Cerro Negro, Ahafo South, Ahafo North, Brucejack and Merian, while describing Wafi-Golpu as further out in the development pipeline.

Newmont said it plans to review how it provides guidance in February 2027, including the potential reestablishment of multi-year guidance.

About Newmont (NYSE:NEM)Newmont Corporation NYSE: NEM is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company's core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Newmont Corporation (NEM) Q2 2026 Earnings Call July 23, 2026 5:30 PM EDT

Company Participants

Neil Backhouse - Group Head of Treasury & Investor Relations
Natascha Viljoen - CEO, President & Director
Brian Tabolt - Executive VP & CFO

Conference Call Participants

Fahad Tariq - Jefferies LLC, Research Division
Hugo Nicolaci - Goldman Sachs Group, Inc., Research Division
Daniel Morgan - Barrenjoey Markets Pty Limited, Research Division
Richard Garchitorena - Barclays Bank PLC, Research Division
Anita Soni - CIBC Capital Markets, Research Division
Lawson Winder - BofA Securities, Research Division
Joshua Wolfson - RBC Capital Markets, Research Division
Daniel Major - UBS Investment Bank, Research Division
Tanya Jakusconek - Scotiabank Global Banking and Markets, Research Division

Presentation

Operator

Hello, and welcome to Newmont's Second Quarter 2026 Results Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Newmont's Group Head of Treasury and Investor Relations, Neil Backhouse. Neil, please go ahead.

Neil Backhouse
Group Head of Treasury & Investor Relations

Thank you, Holly. Hello, everyone, and thank you for joining Newmont's Second Quarter 2026 Results Conference Call. Joining me today are Natascha Viljoen, our President and Chief Executive Officer; Brian Tabolt, our newly appointed Executive Vice President and Chief Financial Officer; as well as other members of our management team who will be available to answer questions at the end of the call. Before we begin, please take a moment to review our cautionary statement shown here and refer to our SEC filings, which can be found on our website.

With that, I'll turn the call over to Natascha.

Natascha Viljoen
CEO, President & Director

Thank you, Neil, and hello, everyone. To begin today's call, I'd like to start by acknowledging the executive leadership appointments we announced last month, reflecting the depth and talent we have within Newmont and reinforcing our commitment to

(Kitco News) - A 13% correction in gold prices during the second quarter has not been enough to derail the trajectory of the world's largest gold miner, after it delivered strong earnings and reaffirmed its full-year production guidance.

Newmont (NYSE: NEM) reported stronger-than-expected second-quarter earnings Thursday after the North American market close. The company said its earnings highlighted the resilience of its global portfolio despite lower gold prices and operational disruptions during the quarter.

The Denver-based miner reported net income of $2.2 billion, or $2.06 per diluted share, on revenue of $6.1 billion. Adjusted net income totaled $2.2 billion, or $2.10 per share, while adjusted EBITDA came in at $3.8 billion. The company also said it generated record second-quarter free cash flow of $2.2 billion

Newmont’s earnings beat analysts' consensus estimate of $1.98 per share

"Newmont delivered another quarter of strong operational and financial performance, producing approximately 1.3 million attributable gold ounces and generating record second-quarter free cash flow of $2.2 billion, while remaining on track to achieve our full-year 2026 guidance," said President and CEO Natascha Viljoen. "Supported by our strong balance sheet and consistent capital allocation framework, we returned $1.9 billion to shareholders through quarterly dividends and ongoing share repurchases executed since our last earnings call, while continuing to invest in the long-term strength of our business."

Although gold prices corrected sharply during the quarter, Newmont's realized gold price remained historically elevated at $4,414 an ounce. That was down from $4,900 an ounce in the first quarter but still well above the $3,320 an ounce realized during the same period last year. Gold sales totaled 1.20 million ounces during the quarter.

Attributable gold production totaled 1.29 million ounces, down just 1% from the first quarter despite production interruptions at the company's Cadia operation in Australia following seismic events. Lower output from Cadia, Ahafo South, Peñasquito and Yanacocha was partially offset by stronger production at Lihir, Boddington and the Pueblo Viejo joint venture. Newmont said operations at Cadia returned to normal levels by mid-June.

While production proved resilient, lower gold prices and operational disruptions pushed costs higher. Gold by-product all-in sustaining costs rose to $1,621 an ounce from $1,029 an ounce in the previous quarter, driven primarily by lower production volumes, higher sustaining capital spending and additional costs incurred at Cadia during the temporary shutdown. However, Newmont noted that year-to-date costs remain well below its full-year guidance.

Despite the increase in costs, Newmont continued to generate significant cash and return capital to shareholders. Since its last earnings report, the company has returned $1.9 billion through dividends and share repurchases, including $1.7 billion in share buybacks. Since February 2024, Newmont has reduced its outstanding share count by more than 100 million shares, or roughly 9%, increasing shareholders' exposure to future free cash flow generation.

The miner ended the quarter with $9.0 billion in cash, $13.0 billion in total liquidity and a net cash position of $3.4 billion. The company's board also declared a quarterly dividend of $0.26 per share, payable Sept. 28 to shareholders of record as of Sept. 3.

Newmont also highlighted progress on several long-term initiatives during the quarter, including receiving key regulatory approvals from the Province of British Columbia for the Red Chris Block Cave project. The approvals, including an amended Environmental Assessment Certificate completed through a consent-based process with the Tahltan Nation, mark an important milestone as the project advances toward a final investment decision.

Looking ahead, the senior producer reaffirmed its 2026 guidance, forecasting attributable gold production of approximately 5.26 million ounces with gold all-in sustaining costs of around $1,680 an ounce. The company expects production to be weighted slightly toward the second half of the year, with stronger output anticipated from Boddington, Tanami, Lihir, Cerro Negro and Brucejack. Third-quarter production is expected to be broadly in line with second-quarter levels.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

The gold-mining company said it remains on track to meet its full-year guidance.

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?

Let's take a look at what these Wall Street heavyweights have to say about Newmont Corporation (NEM - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.

Newmont currently has an average brokerage recommendation (ABR) of 1.33, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 24 brokerage firms. An ABR of 1.33 approximates between Strong Buy and Buy.

Of the 24 recommendations that derive the current ABR, 19 are Strong Buy and two are Buy. Strong Buy and Buy respectively account for 79.2% and 8.3% of all recommendations.

Brokerage Recommendation Trends for NEM

Check price target & stock forecast for Newmont here>>>

While the ABR calls for buying Newmont, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.

Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.

This means that the interests of these institutions are not always aligned with those of retail investors, giving little insight into the direction of a stock's future price movement. It would therefore be best to use this information to validate your own analysis or a tool that has proven to be highly effective at predicting stock price movements.

With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near-term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.

Zacks Rank Should Not Be Confused With ABRIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.

Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

It has been and continues to be the case that analysts employed by brokerage firms are overly optimistic with their recommendations. Because of their employers' vested interests, these analysts issue more favorable ratings than their research would support, misguiding investors far more often than helping them.

On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.

There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.

Is NEM a Good Investment?In terms of earnings estimate revisions for Newmont, the Zacks Consensus Estimate for the current year has declined 8.5% over the past month to $9.07.

Analysts' growing pessimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates lower, could be a legitimate reason for the stock to plunge in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #4 (Sell) for Newmont. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, it could be wise to take the Buy-equivalent ABR for Newmont with a grain of salt.

Newmont (NYSE:NEM – Get Free Report) is anticipated to issue its Q2 2026 results after the market closes on Thursday, July 23rd. Analysts expect the company to post earnings of $2.00 per share and revenue of $6.3365 billion for the quarter. Interested persons are encouraged to explore the company’s upcoming Q2 2026 earning summary page for the latest details on the call scheduled for Thursday, July 23, 2026 at 5:30 PM ET.

Newmont (NYSE:NEM – Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, analysts expect Newmont to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Newmont Stock Down 0.5% NEM opened at $89.24 on Tuesday. The stock has a fifty day moving average of $101.69 and a 200-day moving average of $110.19. The company has a market capitalization of $95.26 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.03 and a beta of 0.46. Newmont has a fifty-two week low of $58.97 and a fifty-two week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44.

Newmont Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.2%. Newmont’s payout ratio is currently 13.49%.

Key Headlines Impacting Newmont Here are the key news stories impacting Newmont this week:

Positive Sentiment: Several commentary pieces argue Newmont could still be attractive on valuation, suggesting the recent pullback may be creating a potential value opportunity if gold stays firm and earnings hold up. Is Newmont (NYSE:NEM) Still A Compelling Value Stock? Positive Sentiment: Gold’s strength remains a tailwind for Newmont, and one article says the company is facing a “crucial test” as the metal stays strong, which could support revenue and margins if commodity prices remain elevated. Newmont (NYSE:NEM) Faces a Crucial Test As Gold Stays Strong Positive Sentiment: Market chatter ahead of Q2 earnings points to investor interest in key operating metrics, and recent discussion of Newmont as a trading candidate around macro uncertainty suggests the stock could benefit if results exceed expectations. Newmont Stock Suddenly Offers a Double-Sided Debit Trade on U.S.-Iran Tensions and Upcoming Earnings Neutral Sentiment: Multiple previews of Newmont’s upcoming Q2 report focus on Wall Street estimates and key metrics, signaling that the stock may remain range-bound until earnings provide clearer direction. Seeking Clues to Newmont (NEM) Q2 Earnings? A Peek Into Wall Street Projections for Key Metrics Negative Sentiment: Scotiabank reportedly has a negative outlook for Newmont’s FY2027 earnings, reinforcing concerns that profit growth may slow after the current cycle. Scotiabank Has Negative Outlook for Newmont FY2027 Earnings Negative Sentiment: Technical commentary says Newmont shares have fallen to a 2026 low and support is being tested, which points to continued downside pressure unless buyers step in soon. Newmont Shares At 2026 Low, With Support Being Tested Insider Activity In related news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total transaction of $277,140.00. Following the transaction, the executive vice president owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. This represents a 6.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,556 shares of company stock valued at $3,058,146 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Newmont A number of large investors have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in shares of Newmont by 82.5% during the fourth quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock worth $739,117,000 after purchasing an additional 3,345,543 shares during the last quarter. Boston Partners raised its holdings in Newmont by 49.3% in the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after buying an additional 2,288,653 shares during the last quarter. Bridgewater Associates LP boosted its position in Newmont by 496.1% during the 4th quarter. Bridgewater Associates LP now owns 2,308,909 shares of the basic materials company’s stock worth $230,545,000 after buying an additional 1,921,592 shares during the period. Ameriprise Financial Inc. boosted its position in Newmont by 142.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock worth $189,963,000 after buying an additional 1,914,286 shares during the period. Finally, Morgan Stanley grew its holdings in Newmont by 11.6% during the 4th quarter. Morgan Stanley now owns 12,401,862 shares of the basic materials company’s stock worth $1,238,326,000 after acquiring an additional 1,284,105 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In A number of research analysts have issued reports on the stock. Canadian Imperial Bank of Commerce set a $175.00 target price on shares of Newmont and gave the stock an “outperform” rating in a research report on Monday, June 1st. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Bank of America cut their price target on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Citigroup reissued a “positive” rating on shares of Newmont in a research report on Wednesday, July 15th. Finally, Scotiabank lowered their price objective on Newmont from $151.00 to $147.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.26.

Check Out Our Latest Stock Analysis on Newmont

Newmont Company Profile (Get Free Report)

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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Wall Street analysts expect Newmont Corporation (NEM - Free Report) to post quarterly earnings of $2.13 per share in its upcoming report, which indicates a year-over-year increase of 49%. Revenues are expected to be $6.19 billion, up 16.4% from the year-ago quarter.

The current level reflects a downward revision of 3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

Bearing this in mind, let's now explore the average estimates of specific Newmont metrics that are commonly monitored and projected by Wall Street analysts.

Analysts predict that the 'Geographic Revenue- Nevada Gold Mines' will reach $862.82 million. The estimate indicates a change of +10.2% from the prior-year quarter.

The average prediction of analysts places 'Geographic Revenue- Pe?asquito' at $964.15 million. The estimate points to a change of +18.3% from the year-ago quarter.

According to the collective judgment of analysts, 'Geographic Revenue- Merian' should come in at $342.45 million. The estimate points to a change of +53.6% from the year-ago quarter.

Analysts expect 'Geographic Revenue- Cerro Negro' to come in at $211.49 million. The estimate points to a change of +88.8% from the year-ago quarter.

The combined assessment of analysts suggests that 'Average Realized Price - Silver' will likely reach 71 dollars per ounce. Compared to the present estimate, the company reported 30 dollars per ounce in the same quarter last year.

Analysts' assessment points toward 'Attributable Production - Total Gold' reaching 1231 thousands of ounces. The estimate is in contrast to the year-ago figure of 1478 thousands of ounces.

The collective assessment of analysts points to an estimated 'Average Realized Price - Gold' of 4774 dollars per ounce. Compared to the present estimate, the company reported 3320 dollars per ounce in the same quarter last year.

The consensus among analysts is that 'Average Realized Price - Copper' will reach N/A. The estimate is in contrast to the year-ago figure of N/A.

Based on the collective assessment of analysts, 'AISC Consolidated - Nevada Gold Mines' should arrive at 1746 dollars per ounce. The estimate is in contrast to the year-ago figure of 1771 dollars per ounce.

It is projected by analysts that the 'Attributable Production - Nevada Gold Mines' will reach 224 thousands of ounces. The estimate is in contrast to the year-ago figure of 239 thousands of ounces.

The consensus estimate for 'Attributable Production - Cerro Negro' stands at 45 thousands of ounces. Compared to the present estimate, the company reported 42 thousands of ounces in the same quarter last year.

Analysts forecast 'Attributable Production - Penasquito' to reach 44 thousands of ounces. Compared to the current estimate, the company reported 148 thousands of ounces in the same quarter of the previous year.

View all Key Company Metrics for Newmont here>>>

Over the past month, Newmont shares have recorded returns of -13.6% versus the Zacks S&P 500 composite's +0.6% change. Based on its Zacks Rank #3 (Hold), NEM will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Posted by Defense World Staff on Jul 19th, 2026

AIA Group Ltd lowered its position in Newmont Corporation (NYSE:NEM – Free Report) by 30.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,497 shares of the basic materials company’s stock after selling 50,446 shares during the quarter. AIA Group Ltd’s holdings in Newmont were worth $12,286,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Apella Capital LLC boosted its position in shares of Newmont by 4.1% during the 4th quarter. Apella Capital LLC now owns 2,198 shares of the basic materials company’s stock valued at $219,000 after acquiring an additional 86 shares in the last quarter. New Wave Wealth Advisors LLC lifted its stake in Newmont by 1.3% during the fourth quarter. New Wave Wealth Advisors LLC now owns 6,849 shares of the basic materials company’s stock worth $684,000 after purchasing an additional 88 shares during the period. Novem Group lifted its stake in Newmont by 3.7% during the fourth quarter. Novem Group now owns 2,487 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 88 shares during the period. Norden Group LLC boosted its holdings in Newmont by 0.7% during the fourth quarter. Norden Group LLC now owns 12,367 shares of the basic materials company’s stock valued at $1,235,000 after purchasing an additional 90 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in shares of Newmont by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,153 shares of the basic materials company’s stock valued at $714,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

Insider Buying and Selling In related news, EVP Peter Wexler sold 13,378 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $1,473,051.58. Following the completion of the sale, the executive vice president owned 67,865 shares in the company, valued at $7,472,615.15. This represents a 16.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David John Thornton sold 2,296 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the completion of the transaction, the insider owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This represents a 9.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 28,556 shares of company stock valued at $3,058,146 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Key Newmont News Here are the key news stories impacting Newmont this week:

Positive Sentiment: Scotiabank raised its FY2026 EPS estimate for Newmont to $8.80 from $8.73 and kept a Sector Outperform rating with a $147 price target, signaling continued confidence in earnings power and valuation upside. Positive Sentiment: Analysts at other firms continue to view Newmont favorably, with coverage highlighting improving operational efficiency, stronger free cash flow, and ongoing share buybacks as potential supports for the stock. Positive Sentiment: Newmont resumed operations at its Cadia mine after a seismic event, with no injuries or material damage reported, helping ease concerns about operational disruption while the company advances growth projects such as Ahafo North and Tanami Expansion 2. Positive Sentiment: Some research notes argue Newmont remains undervalued relative to net asset value and could benefit from permit-driven growth catalysts, including the Red Chris Block Cave project. Neutral Sentiment: Newmont is expected to report quarterly earnings next week, and recent commentary suggests the company may have revenue growth ahead, though it may not have the strongest setup for a clear earnings beat. Negative Sentiment: Newmont was downgraded by Zacks Research from strong-buy to hold, adding a cautious note ahead of earnings. Negative Sentiment: The stock also fell more sharply than the broader market in the latest session, reflecting investor concern about softer gold prices, higher costs, and near-term earnings uncertainty. Analysts Set New Price Targets NEM has been the subject of a number of recent research reports. Bank of America dropped their target price on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, July 9th. TD raised Newmont from a “hold” rating to a “buy” rating and decreased their price target for the company from $129.00 to $127.00 in a research note on Tuesday, July 14th. TD Cowen reiterated a “buy” rating on shares of Newmont in a research report on Monday, April 27th. Wall Street Zen lowered Newmont from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, National Bank Financial cut their price objective on Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $136.26.

View Our Latest Report on NEM

Newmont Trading Down 1.1% NEM stock opened at $89.80 on Friday. The company has a quick ratio of 2.17, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. Newmont Corporation has a twelve month low of $57.86 and a twelve month high of $134.88. The company has a market cap of $95.86 billion, a P/E ratio of 11.65, a PEG ratio of 1.02 and a beta of 0.46. The business has a fifty day moving average of $102.32 and a 200-day moving average of $110.20.

Newmont (NYSE:NEM – Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.83. The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $6.83 billion. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 earnings per share. As a group, equities research analysts expect that Newmont Corporation will post 9.25 EPS for the current year.

Newmont Dividend Announcement The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.2%. Newmont’s dividend payout ratio (DPR) is 13.49%.

Newmont Profile (Free Report)

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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Newmont Corporation (NEM - Free Report) closed the most recent trading day at $90.83, moving -4.6% from the previous trading session. This change lagged the S&P 500's 0.51% loss on the day. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 1.47%.

Shares of the gold and copper miner have depreciated by 9.9% over the course of the past month, underperforming the Basic Materials sector's loss of 8.52%, and the S&P 500's gain of 0.53%.

Investors will be eagerly watching for the performance of Newmont Corporation in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 23, 2026. In that report, analysts expect Newmont Corporation to post earnings of $2.18 per share. This would mark year-over-year growth of 52.45%. Our most recent consensus estimate is calling for quarterly revenue of $6.19 billion, up 16.38% from the year-ago period.

NEM's full-year Zacks Consensus Estimates are calling for earnings of $9.32 per share and revenue of $26.74 billion. These results would represent year-over-year changes of +35.27% and +17.96%, respectively.

Investors should also take note of any recent adjustments to analyst estimates for Newmont Corporation. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.92% lower. Newmont Corporation currently has a Zacks Rank of #3 (Hold).

Looking at valuation, Newmont Corporation is presently trading at a Forward P/E ratio of 10.22. For comparison, its industry has an average Forward P/E of 9.55, which means Newmont Corporation is trading at a premium to the group.

It is also worth noting that NEM currently has a PEG ratio of 1.08. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Gold industry had an average PEG ratio of 0.64 as trading concluded yesterday.

The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 228, placing it within the bottom 8% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of NEMCL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Shares in gold miner Newmont Corp (NEM +2.42%) rose by as much as 5.4% in early morning trading today. Yes, the price of gold is up slightly as I write, but that's not the real reason investors feel more optimistic today. The likely catalyst for the stock's move today is a TD Cowen analyst's upgrade of the stock from a hold recommendation to a buy, even as the analyst, Steven Green, nudged the price target down to $127 from $129.

TD Cowen upgrades Newmont stock The stock has been weak recently and is down by a low single-digit percentage on the year. That's enticing enough to encourage the analyst to recommend the stock on valuation grounds. Evaluating commodity stocks like Newmont is always a difficult endeavor, as it always implies some sort of assumption for the underlying commodity it produces; in this case, gold.

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The case for Newmont and gold However, I do think there's a strong case for agreeing with the analyst. The weakness in gold prices this year is not surprising, given the rush by investors to invest in the precious metal last year. Simply put, the massive influx of speculative money into gold left it susceptible to a correction, as easy money can flow in and out.

That said, the underlying case for gold remains strong, as global central banks continue to seek ways to diversify out of U.S.-denominated debt and move assets out of U.S. dollar assets, which could be subject to sanctions. They are likely to buy gold on weakness, as in the jewelry market, while demand for gold in technology is relatively stable.

Image source: Getty Images.

If gold does indeed recover, Newmont is an ideal way to play the theme, given management's doubling down on gold by divesting non-core assets and focusing on lower-cost production in its core assets. As such, buying on weakness, while acknowledging it could get weaker in the near term, makes sense for long-term gold bulls.

Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Newmont Corporation (NEM - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.

Over the past month, shares of this gold and copper miner have returned -4.9%, compared to the Zacks S&P 500 composite's +4.3% change. During this period, the Zacks Mining - Gold industry, which Newmont falls in, has gained 0.4%. The key question now is: What could be the stock's future direction?

While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.

Earnings Estimate RevisionsRather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.

Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.

Newmont is expected to post earnings of $2.18 per share for the current quarter, representing a year-over-year change of +52.5%. Over the last 30 days, the Zacks Consensus Estimate has changed -3%.

The consensus earnings estimate of $9.32 for the current fiscal year indicates a year-over-year change of +35.3%. This estimate has changed -5.9% over the last 30 days.

For the next fiscal year, the consensus earnings estimate of $10.34 indicates a change of +11% from what Newmont is expected to report a year ago. Over the past month, the estimate has changed -3.9%.

Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Newmont is rated Zacks Rank #3 (Hold).

The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:

12 Month EPS

Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.

In the case of Newmont, the consensus sales estimate of $6.19 billion for the current quarter points to a year-over-year change of +16.4%. The $26.74 billion and $28.65 billion estimates for the current and next fiscal years indicate changes of +18% and +7.1%, respectively.

Last Reported Results and Surprise HistoryNewmont reported revenues of $7.31 billion in the last reported quarter, representing a year-over-year change of +45.8%. EPS of $2.9 for the same period compares with $1.25 a year ago.

Compared to the Zacks Consensus Estimate of $6.36 billion, the reported revenues represent a surprise of +14.88%. The EPS surprise was +40.1%.

The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.

ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.

While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.

As part of the Zacks Style Scores system, the Zacks Value Style Score (which evaluates both traditional and unconventional valuation metrics) organizes stocks into five groups ranging from A to F (A is better than B; B is better than C; and so on), making it helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.

Newmont is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.

Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Newmont. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.

In the latest trading session, Newmont Corporation (NEM - Free Report) closed at $94.81, marking a +1.73% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.81%. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq added 1.3%.

Shares of the gold and copper miner have appreciated by 0.46% over the course of the past month, outperforming the Basic Materials sector's loss of 4.72%, and lagging the S&P 500's gain of 1.13%.

The upcoming earnings release of Newmont Corporation will be of great interest to investors. The company's earnings report is expected on July 23, 2026. The company's earnings per share (EPS) are projected to be $2.19, reflecting a 53.15% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $6.19 billion, reflecting a 16.38% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $9.76 per share and revenue of $26.74 billion, which would represent changes of +41.65% and +17.96%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for Newmont Corporation. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.49% lower within the past month. Newmont Corporation currently has a Zacks Rank of #3 (Hold).

In the context of valuation, Newmont Corporation is at present trading with a Forward P/E ratio of 9.55. For comparison, its industry has an average Forward P/E of 8.98, which means Newmont Corporation is trading at a premium to the group.

It is also worth noting that NEM currently has a PEG ratio of 1.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.83.

The Mining - Gold industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 30% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Newmont Corporation, the world's largest gold miner, trades at 9.6x forward earnings after an approximate 30% stock decline amid gold's Q2 sell-off. NEM delivered Q1 revenue up 46% to $7.31 billion, beat earnings estimates, generated a record $3.1 billion in free cash flow, and completed a $6 billion buyback with another $6 billion authorized. Management reaffirmed FY2026 guidance: 5.3 million oz gold, 9 million oz silver, 30,000 tonnes copper; analysts project 47% profit growth and 25% revenue growth for FY2026.

Newmont Corporation (NEM - Free Report) ended the recent trading session at $98.20, demonstrating a +1.2% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.72%. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 1.12%.

Prior to today's trading, shares of the gold and copper miner had lost 2.68% was narrower than the Basic Materials sector's loss of 5.59% and lagged the S&P 500's loss of 0.9%.

Market participants will be closely following the financial results of Newmont Corporation in its upcoming release. The company plans to announce its earnings on July 23, 2026. The company is forecasted to report an EPS of $2.2, showcasing a 53.85% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $6.19 billion, reflecting a 16.38% rise from the equivalent quarter last year.

NEM's full-year Zacks Consensus Estimates are calling for earnings of $9.87 per share and revenue of $27.25 billion. These results would represent year-over-year changes of +43.25% and +20.2%, respectively.

Any recent changes to analyst estimates for Newmont Corporation should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.35% lower. Newmont Corporation presently features a Zacks Rank of #3 (Hold).

With respect to valuation, Newmont Corporation is currently being traded at a Forward P/E ratio of 9.83. This indicates a premium in contrast to its industry's Forward P/E of 9.42.

Investors should also note that NEM has a PEG ratio of 1.61 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Mining - Gold industry held an average PEG ratio of 0.87.

The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 159, positioning it in the bottom 36% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

Investors went from pricing in record cash flows for Newmont (NEM +4.01%) to panicking over cooling gold prices amid falling production and rising costs. This sudden shift in sentiment triggered a 14.9% drop in June in Newmont's share price, according to data provided by S&P Global Market Intelligence. That single bad month erased early momentum, leaving the gold stock up only 10% in the first half of 2026.

Is Newmont headed even lower, or is this a prime opportunity to buy one of the finest gold stocks on the dip?

Image source: Getty Images.

Why Newmont stock lost its luster After hitting an all-time high of $5,608.35 per ounce in January 2026, gold crashed into a bear market in June, tumbling more than 25% from record highs.

Despite stubbornly high inflation and the conflict in the Middle East, gold has fallen in recent weeks. Historically, these factors should have fueled a rally in gold since it is considered as the ultimate safe-haven asset during volatile times.

Instead, with annual inflation in May surpassing 4% for the first time since April 2023 and the Federal Reserve keeping interest rates intact, the guaranteed yield from U.S. Treasury bonds continued to win over investors. A restrictive monetary policy simply took the wind out of gold's sails.

As the world's largest gold producer, Newmont's earnings and cash are highly leveraged to the metal, meaning its stock inevitably plunged alongside spot prices.

Should you buy the gold stock before Q2 earnings? Ironically, the big June drop in Newmont stock follows record-breaking Q1, where Newmont reported all-time cash flows. It also doubled its share repurchase program, authorizing an additional $6 billion in buybacks, and announced a dividend raise.

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The problem is that management has also guided for a low production year, estimating attributable gold production to decline to roughly 5.3 million ounces in 2026 from 5.9 million ounces in 2025 due to planned mining sequences and lower ore grades at key sites.

Concurrently, Newmont's projected all-in-sustaining-costs (AISC) are expected to rise significantly to $1,680 per ounce this year from $1,358 an ounce in 2025.

When a gold miner's output falls, even if temporarily, and operating costs rise, its stock becomes hyper-sensitive to spot gold prices. The expected margin squeeze has prompted some investors to take profits ahead of Newmont's upcoming Q2 earnings report on July 23.

Newmont is exceptionally well-financed right now, having exited Q1 with a massive net cash position of $3.2 billion. So if you want exposure to gold, Newmont is a top gold stock to buy on dips.

DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, ASX: NEM, PNGX: NEM) will release its second quarter 2026 results after North American markets close on Thursday, July 23, 2026. A conference call to discuss the results will be held at 5:30 p.m. Eastern Daylight Time the same day, which is 7:30 a.m. Australian Eastern Standard Time on Friday, July 24, 2026. A replay of the webcast will be available through the Company's website. Webcast Details Title: Newmont's Second Quarter 2026 Result.

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.

Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.

It also includes access to the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.

As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Newmont Corporation (NEM - Free Report) Colorado-based Newmont Corporation is one of the world's largest producers of gold with several active mines in Nevada, Peru, Australia and Ghana. As of Dec 31, 2025, Newmont had attributable gold reserves of 118.2 million ounces and resources of 148.7 million ounces. Its attributable gold production for 2025 was around 5.89 million ounces.

NEM is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.

Additionally, the company could be a top pick for growth investors. NEM has a Growth Style Score of A, forecasting year-over-year earnings growth of 43.8% for the current fiscal year.

Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.44 to $9.91 per share. NEM boasts an average earnings surprise of +33.6%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, NEM should be on investors' short list.

Newmont (NEM 1.38%) is the world's largest gold producer and one of the best ways to invest in the idea that gold prices will rise. The key to the investment case is that investors are taking on commodity-specific risk by buying gold-related stocks, so it makes sense to buy a company with relatively low stock-specific risk. 

The company's rock-solid balance sheet, disciplined capital allocation approach, strong reserves, and refocusing on its core gold and copper assets give investors that security.

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Newmont As many gold investors know, the price of gold has surged in recent years, trading at around $1,800 per ounce five years ago, then just shy of $4,000 per ounce right now, having reached more than $5,200 per ounce along the way.

Naturally, that increase has led to sharply higher revenue, profitability, and cash flow for gold miners, and the good news is that Newmont has used it to pay down debt and create a fortress balance sheet. The chart below shows the increase in earnings before interest, taxation, depreciation, and amortization (EBITDA) and the reduction in net debt. The negative number in 2025 reflects net cash of $2,058 million on the balance sheet.

Data source: S&P Global Market Intelligence. Chart by the author.

A disciplined capital allocation plan History suggests the price of gold will be volatile, and that matters even if you are a long-term bull. Consequently, it's important for miners to manage risk through the potential volatility in the precious commodity's price. Newmont is doing this via a capital allocation approach that prioritizes paying its $1.1 billion annual dividend and sustaining capital spending (targeted at $1.95 billion in 2026).

Only after this use of cash are resources allocated to development capital (management targets $1.4 billion in 2026) and share buybacks (Newmont has $6 billion in authorization). The idea is to provide high income security for investors through dividends while maintaining investment in its assets.

Moreover, on the operational side, Newmont's management divested six non-core assets in 2025 , with the aim of focusing its investments on its top-tier mines, notably in Australia (Cadia and Tanami) and Ghana (Ahafo North). It's a strategy aimed at concentrating production in its core mines, which will hopefully result in lower cash costs per ounce.

Image source: Getty Images.

A stock to buy? As recently argued, the long-term outlook for gold remains bullish, even as near-term pressures from a correction in investment demand have sent the price lower. Still, the underlying fundamentals and appeal of gold as a hedge against rising debt levels, geopolitical uncertainty, and the increasing willingness of central banks to prioritize buying gold over U.S. debt appear to be a structural multi-year shift.

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.

Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.

It also includes access to the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.

The Style Scores are broken down into four categories:

Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.

How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.

Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +24% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.

That's where the Style Scores come in.

To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.

Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.

A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Newmont Corporation (NEM - Free Report) Colorado-based Newmont Corporation is one of the world's largest producers of gold with several active mines in Nevada, Peru, Australia and Ghana. As of Dec 31, 2025, Newmont had attributable gold reserves of 118.2 million ounces and resources of 148.7 million ounces. Its attributable gold production for 2025 was around 5.89 million ounces.

NEM is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of A.

It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 9.49; value investors should take notice.

For fiscal 2026, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.90 to $9.91 per share. NEM boasts an average earnings surprise of +33.6%.

With a solid Zacks Rank and top-tier Value and VGM Style Scores, NEM should be on investors' short list.