Newmont Corporation (NEM)

NYSE: NEM · USD

$114

+1.21 (+1.1%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-09-29

Our latest published analysis: NEM rated Hold

Newmont Corporation's published Hold conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$129 / share

Potential value

$185 / share

Upside to FV

+10.7%

from $114

Moat

6/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$122.3B
Revenue (ttm)	26.6B
Net income (ttm)	9.2B
EPS (ttm)	$8.59
Shares out	1B
P/E (trailing)	13.3x
P/E (forward)	11.6x
Dividend	$1.04 (0.92%)
Volume	5,053,456
Beta	0.53

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 26.6B
Net income (ttm): 9.2B
EPS (ttm): $8.59
P/E (trailing): 13.3x
P/E (forward): 11.6x
Market cap: $122.3B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$12.22B	$11.92B	$11.81B	$18.68B	$22.67B	+16.7%
Gross profit	$2.38B	$2.14B	$1.17B	$6.42B	$11.00B	+46.7%
Operating income	$1.37B	$176.0M	$-1.78B	$4.96B	$12.06B	+72.1%
Net income	$1.17B	$-429.0M	$-2.49B	$3.35B	$7.09B	+57.0%
EPS (diluted)	$1.46	$-0.54	$-2.97	$2.92	$6.39	+44.6%
EBITDA	$5.54B	$3.28B	$1.86B	$7.87B	$14.83B	+27.9%
R&D	$154.0M	$229.0M	$200.0M	$197.0M	$166.0M	+1.9%
SG&A	$259.0M	$276.0M	$299.0M	$442.0M	$382.0M	+10.2%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAL	American Airlines Group Inc.	8.3B	—	0.1x	3.0%	+20.0%	-6.9%	持有
ALB	Albemarle Corporation	11.4B	198.9x	1.9x	4.1%	+12.8%	+1.9%	持有
ANET	Arista Networks Inc.	235.7B	59.1x	22.4x	284.8%	+32.0%	+19.7%	卖出
APD	Air Products and Chemicals, Inc.	68.3B	—	5.4x	8.9%	+5.2%	+23.1%	持有
AVY	Avery Dennison Corporation	13.7B	19.8x	1.5x	15.1%	+3.3%	+1.6%	持有
BALL	Ball Corporation	16.7B	18.0x	1.2x	8.7%	+2.3%	+28.3%	买入

Base and Bull scenarios

Base50%

Price target

$129.42

+10.7% from spot

In the base scenario (the modal expected outcome), Newmont successfully delivers on guided FY2026 production and cost plans, maintaining byproduct AISC within guided ceilings. Operating margins normalize gracefully from peak FY2025 levels through FY2026 and FY2030, delivering robust annual free cash flow in FY2026 and FY2027. Steady capital reinvestment preserves reserve quality across tier-one jurisdictions, supporting our composite fair value midpoint of $129.42.

Revenue grows 18.14% in FY2026 to $26.78B and 9.03% in FY2027 to $29.20B before decelerating to 2.0% terminal growth.
Operating margins normalize from 45.7% in FY2025 to 44.0% in FY2026, 42.0% in FY2027, and 38.0% by FY2030.
Annual capital expenditures track guidance of $3.35B in FY2026 ($1.95B sustaining and $1.4B development).
Net reinvestment rate remains disciplined at 12.0% of NOPAT.
Terminal valuation multiple of 14.0x forward earnings discounted at WACC of 7.82%.

Bull15%

Price target

$184.87

+58.1% from spot

In the bull scenario, sustained bullion price strength combines with flawless mine execution across Cadia, Tanami, and Lihir. Byproduct AISC remains contained near $1,621 per ounce, driving operating margins above 45.0% and diluted EPS toward $12.09 by FY2027. Annual free cash flow exceeds $8.5 billion, enabling accelerated share repurchases and capital returns.

Consolidated revenue expands to $29.20B by FY2027 driven by strong bullion prices and volume execution.
Operating margins sustain above 45.0% supported by low byproduct AISC near $1,621/oz.
Diluted EPS expands at an 18.0% annual rate over the projection horizon.
Terminal valuation multiple expands to 16.0x forward earnings.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($129.42). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.5%	1.8%	2.0%	2.3%	2.5%
6.8%	$144	$148	$154	$160	$166
7.3%	$133	$137	$141	$146	$151
7.8%	$124	$128	$129	$135	$139
8.3%	$117	$119	$122	$126	$129
8.8%	$110	$112	$115	$118	$120

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E11.6

P25 n/aP50 n/aP75 n/a

Trailing P/E14.6

P25 n/aP50 n/aP75 n/a

ROE27.3

P25 n/aP50 n/aP75 n/a

ROIC29.4

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All NEM indicators

Market & fundamental data

Available fields

290

Groups with data

Currency

USD

Showing 290 of 290 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001164727
Company name	Newmont Corporation
Country	United States
Country code	US
CUSIP number	651639106
Earnings date	2026-10-22
Earnings time	amc
Employees	17,500
Employees change	-4,700
Employees growth	-21.17%
Enterprise value	$114.6B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1916
In index	SP500
Industry	Gold
Is primary listing	Yes
Is SPAC	No
ISIN number	US6516391066
Last 10-K release date	2026-02-19
Last earnings date	2026-10-22
Last refreshed	2026-10-28
Last stock split date	1994-04-22
Last stock split type	Forward
Market cap	$118.3B
Market cap category	Large-Cap
Next earnings date	2027-02-18
Options	Yes
Price	$113.85
Price currency	USD
Sector	Materials
SIC code	1040
Stock price date	2026-10-28
Symbol	NEM
U.S. state	Colorado
Website	https://www.newmont.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	11.71x
Average P/E ratio (10Y)	62.36x
Average P/E ratio (3Y)	12.53x
Earnings yield	7.55%
EV/Earnings	12.27x
EV/EBIT	7.67x
EV/EBITDA	6.44x
EV/FCF	11.25x
EV/Sales	4.26x
FCF / EV yield	8.89%
FCF yield	8.61%
Forward EV/Sales	4.25x
Forward P/E	12.16x
Forward P/S	4.39x
Graham number	81.31109
Graham upside	-27.79%
Industry forward P/E	12.72x
Industry P/E	13.38x
Lynch fair value	$214.77
Lynch upside	90.72%
P/(FCF - SBC) ratio	11.73x
P/(OCF - SBC) ratio	9x
P/B ratio	3.29x
P/E ratio	13.25x
P/FCF ratio	11.62x
P/OCF ratio	8.93x
P/S ratio	4.4x
PEG ratio	0.8x
Price / tangible book value	3.54x
Price/EBITDA ratio	6.64x
Sector forward P/E	15.02x
Sector P/E	22.73x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	55.56%
EBITDA margin	66.2%
Effective tax rate	35.8%
FCF margin	37.86%
Gross margin	68.04%
Operating margin	55.56%
Pretax margin	55.27%
Profit margin	34.73%
Profit per employee	$528,000
Profitable quarters	11
Profitable years	2
Revenue per employee	$1.5M
ROA	16.37%
ROA (5Y)	5.05%
ROCE	28.08%
ROE	27.26%
ROE (5Y)	4.42%
ROIC	29.38%
ROIC (5Y)	-3.09%
SBC / revenue	0.37%
Tax / revenue	19.79%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	33.61%
EPS growth (Q)	40.72%
EPS growth (QoQ)	14.08%
EPS growth 5Y	27.63%
EPS growth quarters	3
EPS growth years	2
FCF growth	64.55%
FCF growth (Q)	21.71%
FCF growth (QoQ)	-13.29%
FCF growth 3Y	136.15%
FCF growth 5Y	26.94%
Gross profit growth	41.97%
Gross profit growth (Q)	16.55%
Gross profit growth 3Y	67.93%
Gross profit growth 5Y	22.62%
Net income growth	28.57%
Net income growth (Q)	35.1%
Net income growth (QoQ)	12.4%
Net income growth 5Y	35.33%
Net income growth quarters	3
Net income growth years	2
OCF growth	42%
OCF growth (Q)	20.45%
OCF growth (QoQ)	-5.34%
OCF growth 10Y	18.34%
OCF growth 3Y	60.69%
OCF growth 5Y	22.93%
Operating income growth	57.9%
Operating income growth (Q)	21.6%
Operating income growth 3Y	137.9%
Operating income growth 5Y	31.01%
Revenue growth	23.73%
Revenue growth (Q)	15.19%
Revenue growth (QoQ)	4%
Revenue growth 10Y	15.36%
Revenue growth 3Y	34.01%
Revenue growth 5Y	16.85%
Revenue growth quarters	12
Revenue growth years	2

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-3B
Depreciation and amortization	$2.8B
EBIT	$14.8B
EBITDA	$17.6B
EPS	$8.59
FCF per share	$9.69
Financing cash flow	$-7.2B
Free cash flow	$10.1B
Free cash flow minus SBC	$10B
Gross profit	$18.1B
Income taxes	$5.3B
Investing cash flow	$-2.6B
Net borrowing	$-212M
Net cash flow	$3.2B
Net income	$9.2B
Operating cash flow minus SBC	$13B
Operating income	$14.8B
Revenue	$26.6B
Stock-based compensation	$99M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	4.69
Book value per share	$34.20
Debt / EBITDA	0.31
Debt / equity	0.16
Debt / FCF	0.55
Goodwill	$2.7B
Interest coverage	107.12
Long-term assets	$44.6B
Long-term liabilities	$16.8B
Net cash (debt)	$3.7B
Net cash / market cap	3.14%
Net cash growth	731.9%
Net debt / EBITDA	-0.21
Net debt / equity	-0.1
Net debt / FCF	-0.37
Piotroski F-Score	8
Property, plant and equipment	$33.9B
Shareholders' equity	$35.9B
Tangible book value	$33B
Tangible book value per share	$31.66
Total assets	$58.2B
Total cash	$8.8B
Total debt	$5.6B
Total liabilities	$22.3B
WACC	6.91%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.47
Current assets	$13.6B
Current liabilities	$5.5B
Current ratio	2.45
Inventory turnover	3.18
Net working capital	$-661M
Quick ratio	1.86
Working capital	$8B
Working capital turnover	4

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	3.91%
Dividend growth	4%
Dividend growth (10Y)	23.6%
Dividend growth (3Y)	-13.38%
Dividend growth (5Y)	-13.92%
Dividend growth years	0
Dividend payment date	2026-12-21
Dividend payment years	56
Dividend payout frequency	Quarterly
Dividend per share	$1.04
Dividend yield	0.92%
Ex-dividend date	2026-11-25
FCF payout ratio	10.73%
Last dividend	$0.26
Payout ratio	12.11%
Shareholder yield	4.83%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	224.63%
10Y return CAGR	15.31%
10Y total return	315.42%
150-day SMA	$110.86
15Y price change	70.97%
15Y return CAGR	5.97%
15Y total return	138.78%
1D price change	1.07%
1M price change	-6.99%
1M total return	-6.99%
1W price change	-3.31%
1W total return	-3.31%
1Y price change	43.64%
1Y return CAGR	45.02%
1Y total return	44.98%
20-day SMA	$114.95
200-day SMA	$112.49
20Y price change	154.83%
20Y return CAGR	6.82%
20Y total return	274.01%
3M price change	20.83%
3M total return	21.08%
3Y price change	189.81%
3Y return CAGR	45.33%
3Y total return	207.05%
50-day SMA	$121.30
50-day SMA vs 200-day SMA	50over200
52-week high	$135.29
52-week high date	2026-08-25
52-week low	$76.05
52-week low date	2025-10-28
5Y price change	96.28%
5Y return CAGR	17.64%
5Y total return	125.24%
6M price change	-2.71%
6M total return	-2.27%
All-time high	$135.29
All-time high date	2026-08-25
All-time low	$6.21
All-time low date	1978-03-07
Average true range (ATR)	$3.81
Average volume	5.6M
Beta (1Y)	1.56
Beta (2Y)	0.97
Beta (5Y)	0.53
Change from 52-week high	-15.85%
Change from 52-week low	49.71%
Change from all-time high	-16.52%
Change from all-time low	1,718.97%
Change from open	1.76%
Day's gap	-0.67%
Dollar volume	$575.3M
High price	$114.00
Low price	$110.98
Monthly RSI	61.78
Open price	$111.88
Position in 52-week range	95.03%
Premarket change	-0.75%
Premarket close	$112.64
Premarket price	$111.79
Premarket volume	14.8K
Previous close	$112.64
Price vs 150-day SMA	1.87%
Price vs 20-day SMA	-1.75%
Price vs 200-day SMA	0.4%
Price vs 50-day SMA	-6.89%
Relative volume	0.91
RSI	44.32
Sharpe ratio	0.94
Sharpe ratio (3Y)	1.02
Sharpe ratio (5Y)	0.51
Sortino ratio	1.47
Sortino ratio (3Y)	1.6
Sortino ratio (5Y)	0.88
Volume	5.1M
Weekly RSI	50.27
YTD price change	13.11%
YTD total return	13.84%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	1B
Float percentage	99.78%
Shares change (QoQ)	-1.5%
Shares change (YoY)	-3.91%
Shares held by insiders	0.07%
Shares held by institutions	81.96%
Shares outstanding	1B
Short % of float	1.55%
Short % of shares	1.54%
Short ratio	2.2 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	193

Deeper analysis on NEM

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this NEM report

What is the latest published NEM stock rating?

Newmont Corporation is shown with Hold in the latest published report, analyzed 2026-09-29. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full NEM analysis?

The full latest published report, analyzed 2026-09-29, lives at /stocks/NEM/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for NEM?

The latest published report analyzed 2026-09-29 gives NEM a fair value of USD 129 and a potential value of USD 185. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the NEM page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-29). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

HoldNEM · Fair value $129+10.7%

Read full analysis →

Newmont Corporation (NEM)

Our latest published analysis: NEM rated Hold

Price

Financial snapshot

Fair-value bridge

Latest news · NEM

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All NEM indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on NEM

Frequently asked questions

评级历史

Category	Score	Reading
Valuation	6.0
Management	9.5
Balance Sheet	8.5
Profitability	8.5
Revenue Growth	7.5
Risk Assessment	9.0
Competitive Moat	6.0
Earnings Quality	8.0
Capital Efficiency	8.5