Bank of America Securities analyst Lawson Winder maintained a Buy rating on Newmont Mining yesterday and set a price target of $115.00.
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Lawson Winder has given his Buy rating due to a combination of factors that highlight Newmont Mining’s strong financial performance and strategic positioning. The company reported a substantial earnings beat in Q3’25, driven by higher realized gold and copper prices, which significantly exceeded expectations. This strong performance was complemented by lower unit costs, although partially offset by lower gold sales.
Newmont’s strategic focus on Tier 1 assets and its ability to optimize and create value within its asset base positions it well to capitalize on a robust gold price environment. Additionally, the company has demonstrated a strong commitment to capital returns, as evidenced by its significant stock buybacks and reduced net debt. These factors, along with reiterated guidance for 2025 and a solid free cash flow position, underpin Winder’s confidence in Newmont’s ability to deliver value to shareholders, justifying the Buy rating.
In another report released yesterday, Scotiabank also upgraded the stock to a Buy with a $114.00 price target.
NEM’s price has also changed dramatically for the past six months – from $53.150 to $88.910, which is a 67.28% increase.