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Newmont Corporation CHESS
(Sydney:NEM)
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Rating:75Outperform
Price Target:
AU$174.00
â–¼(-4.54% Downside)
Action:Reiterated
Date:10/24/26
The score is driven primarily by strong current financial performance (profitability, cash flow, and conservative leverage) and a constructive earnings-call outlook with continued capital returns. This is tempered by weak near-term technical momentum (bearish trend/negative MACD) and only moderate valuation support due to a low dividend yield.
Positive Factors
Strong cash generation and conservative balance sheet
Robust operating and free cash flow gives Newmont capacity to sustain mining operations, fund development, and return capital without relying heavily on additional borrowing. Conservative leverage further improves resilience when commodity prices or operating conditions become less favorable.
Negative Factors
High exposure to commodity-price cyclicality
Newmont’s earnings power remains sensitive to commodity prices and operating conditions, as shown by the sharp difference between recent profitability and losses in earlier years. This cyclicality can make cash generation, returns, and capital planning less predictable across the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation and conservative balance sheet
Robust operating and free cash flow gives Newmont capacity to sustain mining operations, fund development, and return capital without relying heavily on additional borrowing. Conservative leverage further improves resilience when commodity prices or operating conditions become less favorable.
Read all positive factors
Newmont Corporation CHESS (NEM) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$166.38B
Dividend Yield0.92%
Average Volume (3M)275.58K
Price to Earnings (P/E)13.0
Beta (1Y)1.34
Revenue Growth15.09%
EPS Growth23.71%
CountryAU
Employees17,500
SectorGeneral
Sector StrengthN/A
IndustryGold
Share Statistics
EPS (TTM)8.66
Shares Outstanding1,039,193,200
10 Day Avg. Volume302,515
30 Day Avg. Volume275,585
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)3.27
Price to Sales (P/S)4.85
P/FCF Ratio14.68
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$193.63Price Target Upside6.23% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)13.27
Revenue Forecast (FY)AU$37.86B
Newmont Corporation CHESS Business Overview & Revenue Model
Company Description
Newmont Corporation operates as a gold producer. It also explores for copper, silver, lead, zinc, and other metals. It has operations and/or assets in the United States, Papua New Guinea, Australia, Ghana, Suriname, Argentina, Dominican Republic, ...
How the Company Makes Money
Newmont makes money mainly by producing and selling mined metals, with gold typically being its primary revenue driver and copper (and potentially other by-products) contributing additional revenue depending on the asset. Revenue is generated when...
Newmont Corporation CHESS Earnings Call Summary
Earnings Call Date:Oct 22, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Feb 25, 2027
Earnings Call Sentiment Positive
The call was strongly positive, with stable third-quarter production, record adjusted net income, $1.9 billion of free cash flow, improved full-year cost guidance, substantial shareholder returns, and multiple project milestones. Management also highlighted production growth beginning in 2027 and long-term development potential at Red Chris. The principal challenges were higher expected costs, inflation and fuel sensitivities, potential El Nino-related impacts at Lihir, increased 2027 development capital, and pending approvals and closing steps for major initiatives.Positive Updates
Strong Third-Quarter Production
Newmont safely produced approximately 1.3 million ounces of gold, 23 thousand tons of copper, and 11 million ounces of silver in the third quarter. Gold production was broadly in line with the second quarter and reflected strong execution across the portfolio.
Negative Updates
Fourth-Quarter Costs Expected to Peak
Fourth-quarter all-in sustaining costs are expected to be the highest of the year at $1.9 thousand per ounce. Management cited the planned timing of sustaining capital spending, lower co-product credits as silver production at Penasquito declines to approximately half of third-quarter levels, and ongoing inflationary pressures, including fuel-related impacts.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Third-Quarter Production
Newmont safely produced approximately 1.3 million ounces of gold, 23 thousand tons of copper, and 11 million ounces of silver in the third quarter. Gold production was broadly in line with the second quarter and reflected strong execution across the portfolio.
Read all positive updates
Company Guidance
Newmont remains well on track to achieve its full year 2026 production guidance, with fourth-quarter production expected to increase to 1.4 million ounces, while full-year gold all-in sustaining costs are now expected to be approximately $1.52 thousand per ounce and fourth-quarter all-in sustaining costs are expected to be $1.9 thousand per ounce. Total portfolio production in 2027 is expected to increase by a low to mid single digit percentage compared with 2026; sustaining capital is expected to remain largely in line with 2026 levels, development capital is expected to be approximately $500 million higher than 2026, approximately $200 million of that increase is expected to be offset in 2027 by cash flow from declining Yanacocha water treatment plant spending, and this benefit is expected to increase to approximately $400 million annually beginning in 2028. Red Chris construction is anticipated to ramp up in 2027, with commercial production targeted for 2033, initial development expected to support a mine life of approximately 13 years, estimated annual production of 275 to 325 thousand ounces of gold and 65 to 85 thousand tons of copper following ramp up, and development capital estimated to be between US$4.2 billion and US$4.8 billion, equivalent to US$5.6 billion and C$6.4 billion on a 100% basis.Newmont Corporation CHESS Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
83
Very Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 26.68B | 22.87B | 18.68B | 11.81B | 11.91B | 12.22B |
| Gross Profit | 15.61B | 12.06B | 7.14B | 3.00B | 3.26B | 4.46B |
| EBITDA | 17.39B | 14.39B | 7.53B | 320.00M | 3.88B | 4.33B |
| Net Income | 9.27B | 7.33B | 3.35B | -2.49B | -429.00M | 1.17B |
Balance Sheet | ||||||
| Total Assets | 58.02B | 57.16B | 56.35B | 55.51B | 38.48B | 40.56B |
| Cash, Cash Equivalents and Short-Term Investments | 8.80B | 8.25B | 3.64B | 3.02B | 3.76B | 5.07B |
| Total Debt | 5.57B | 5.72B | 8.97B | 9.44B | 6.13B | 6.30B |
| Total Liabilities | 22.27B | 23.09B | 26.24B | 26.30B | 18.95B | 18.70B |
| Stockholders Equity | 35.58B | 33.89B | 29.93B | 29.03B | 19.35B | 22.02B |
Cash Flow | ||||||
| Free Cash Flow | 10.16B | 7.55B | 2.96B | 97.00M | 1.09B | 2.63B |
| Operating Cash Flow | 13.21B | 10.69B | 6.36B | 2.76B | 3.22B | 4.28B |
| Investing Cash Flow | -2.60B | 764.77M | -2.70B | -1.00B | -2.98B | -1.87B |
| Financing Cash Flow | -7.32B | -7.42B | -2.95B | -1.60B | -2.36B | -2.96B |
Newmont Corporation CHESS Technical Analysis
Negative
182.27
Price Trends
171.01
Negative
156.26
Positive
158.60
Negative
Market Momentum
-2.65
Positive
40.45
Neutral
15.94
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NEM, the sentiment is Negative. The current price of 182.27 is above the 20-day moving average (MA) of 164.34, above the 50-day MA of 171.01, and above the 200-day MA of 158.60, indicating a bearish trend. The MACD of -2.65 indicates Positive momentum. The RSI at 40.45 is Neutral, neither overbought nor oversold. The STOCH value of 15.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:NEM.
Newmont Corporation CHESS Risk Analysis
Newmont Corporation CHESS disclosed 57 risk factors in its most recent earnings report. Newmont Corporation CHESS reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Newmont Corporation CHESS Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | AU$7.19B | 13.00 | 18.90% | 2.58% | 12.65% | 11.08% | |
80 Outperform | AU$23.91B | 16.53 | 25.74% | 3.51% | 27.74% | 56.65% | |
78 Outperform | AU$4.81B | 6.88 | 35.03% | 3.02% | 42.59% | 180.54% | |
76 Outperform | AU$36.11B | 22.19 | 10.76% | 2.17% | 18.83% | 3.43% | |
75 Outperform | AU$166.38B | 13.04 | 26.45% | 0.92% | 15.09% | 23.71% | |
73 Outperform | AU$4.82B | 10.58 | 19.72% | 1.95% | 79.44% | 1173.17% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
AU:NEM
Newmont Corporation CHESS
159.01
40.56
34.24%
AU:PRU
Perseus Mining
5.89
1.31
28.66%
AU:NST
Northern Star Resources Ltd
25.42
2.04
8.73%
AU:EVN
Evolution Mining
11.95
1.75
17.12%
AU:RRL
Regis Resources Limited
6.51
0.71
12.16%
AU:WGX
Westgold Resources
5.36
0.41
8.28%
Newmont Corporation CHESS Corporate Events
Newmont declares quarterly USD 0.26 CDI dividend with updated payment and tax terms
Oct 22, 2026
Newmont Corporation has declared a quarterly dividend of USD 0.26 per CDI for the period ended 30 September 2026, payable on 21 December 2026 to holders on the record date of 25 November, with an ex-dividend date of 24 November. The announcement o...
Newmont Files September Quarter Form 10-Q, Strengthens Investor Outreach
Oct 22, 2026
Newmont Corporation has filed its Quarterly Report for the period ended 30 September 2026 as a Form 10-Q with the U.S. Securities and Exchange Commission, reinforcing its adherence to regulatory reporting standards in both the United States and Au...
Newmont Adjusts CDI and Common Stock Levels Amid Routine Capital Management
Oct 6, 2026
Newmont Corporation reported a reduction in its CHESS Depositary Interests on issue in September 2026, with total CDIs falling to 76,139,203 from 77,869,912. The change reflects net transfers between CDIs and Newmont’s common stock listed on...
Newmont Executive Sells Shares Under Pre-Arranged Trading Plan
Oct 4, 2026
Newmont’s Executive Vice President and Chief Sustainability and Development Officer, Peter Toth, has reported a sale of 3,000 shares of Newmont common stock. The transaction leaves him with beneficial ownership of 34,315 shares held directly...
Newmont Executive Plans Additional Insider Share Sale Under Rule 144
Oct 1, 2026
An officer of Newmont Corporation, Peter Toth, has filed a notice of proposed sale under Rule 144 to dispose of 3,000 common shares through Fidelity Brokerage Services on the New York Stock Exchange in October 2026. The filing also discloses that ...
Newmont Updates ASX CDI Dividend Notice With FX Details
Sep 30, 2026
Newmont Corporation has updated its earlier notification regarding a quarterly dividend tied to the period ended 30 June 2026 for holders of its ASX‑listed CDIs. The update, lodged on 30 September 2026, clarifies the applicable currency exch...
Newmont Sets October 22 Date for Q3 2026 Results and Investor Webcast
Sep 27, 2026
Newmont Corporation has announced it will release its third quarter 2026 financial results after North American markets close on 22 October 2026, followed by a conference call and webcast at 5:30 p.m. Eastern Daylight Time, corresponding to 8:30 a...
Newmont Adjusts CDI and Common Stock Balances Across ASX and NYSE
Sep 8, 2026
Newmont Corporation reported updated figures for its CHESS Depositary Interests on the ASX for August 2026, showing 77,869,912 CDIs on issue over its NYSE-quoted securities, up from 76,964,799 in the prior month. This net increase of 905,113 CDIs ...
Newmont Executive Plans Additional Sale of Vested Restricted Stock
Sep 3, 2026
Newmont Corporation has disclosed a planned sale of 3,882 shares of its common stock on the New York Stock Exchange on September 1, 2026, on behalf of company officer and director Natascha Viljoen, through Fidelity Brokerage Services. The shares t...
Newmont Executive Plans Additional Share Sale Under Prearranged Trading Plan
Sep 3, 2026
An insider filing shows that Newmont Corp officer Peter Toth has notified regulators of his intent to sell 3,000 shares of Newmont common stock, with the proposed transaction to be executed through Fidelity Brokerage Services on the New York Stock...
Newmont CEO Viljoen Sells Shares Under Pre-Arranged Trading Plan
Aug 9, 2026
Newmont Corporation President and CEO Natascha Viljoen reported the sale of 7,764 shares of Newmont common stock on August 5, 2026, under a pre-arranged Rule 10b5-1 trading plan. Following the transaction, Viljoen continues to hold 135,235 shares ...
Newmont Trims CDI and Common Stock Count Amid Cross-Market Transfers
Aug 6, 2026
Newmont Corporation reported that the total number of CHESS Depositary Interests on issue over its NYSE-quoted securities fell to 76,964,799 in July 2026, down from 79,127,976 a month earlier. The reduction, driven by net transfers between CDIs an...
Newmont Discloses Executive Stock Transactions in Routine Form 4 Filing
Jul 29, 2026
Newmont Corporation has disclosed changes in the beneficial ownership of its common stock by Chief Legal Officer Peter Wexler. The filing details routine equity compensation activity, including the acquisition of shares at no cost and the withhold...
Newmont COO Adds to Insider Holdings With Stock Acquisition
Jul 29, 2026
Newmont Corp. reported a change in insider holdings as Chief Operating Officer Mark C. Rodgers acquired 6,954 shares of common stock on July 27, 2026. The shares were received at no stated cash cost, lifting his direct beneficial ownership to 32,7...
Newmont CTO Boosts Insider Holdings With Stock Award
Jul 29, 2026
Newmont Corporation disclosed that Chief Technical Officer David John Thornton received 2,674 shares of common stock on July 27, 2026, at no cost, increasing his directly held stake to 25,837 shares. The transaction, recorded in a regulatory filin...
Newmont EVP Reports New Stock Grant in Insider Filing
Jul 29, 2026
Newmont Corporation disclosed a change in beneficial ownership for executive vice president of project development, David James Fry, in a regulatory filing with the U.S. Securities and Exchange Commission. Fry acquired 3,691 shares of Newmont comm...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.