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Newmont Corporation CHESS
(Sydney:NEM)
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Rating:78Outperform
Price Target:
AU$202.00
â–²(49.90% Upside)
Action:Reiterated
Date:08/21/26
The score is driven primarily by strong financial performance (high margins, strong cash flow, and conservative leverage) and a constructive earnings update that reaffirmed guidance while delivering record free cash flow and shareholder returns. Technicals are supportive but look overextended (high RSI/Stoch), and valuation support is moderate due to a low dividend yield despite a reasonable P/E.
Positive Factors
Strong cash generation
Robust operating and free cash flow gives Newmont funding for sustaining capital, project development, debt management and shareholder returns. Strong cash conversion also improves resilience when commodity prices or operating conditions become less favorable.
Negative Factors
High commodity-cycle exposure
Newmont's earnings and cash generation remain sensitive to gold and other metal prices, production volumes and operating costs. The recent improvement is substantial, but historical swings show that profitability and investment capacity can contract sharply across the cycle.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Robust operating and free cash flow gives Newmont funding for sustaining capital, project development, debt management and shareholder returns. Strong cash conversion also 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$184.74B
Dividend Yield0.83%
Average Volume (3M)535.44K
Price to Earnings (P/E)16.1
Beta (1Y)1.37
Revenue Growth17.80%
EPS Growth33.91%
CountryAU
Employees17,500
SectorGeneral
Sector StrengthN/A
IndustryGold
Share Statistics
EPS (TTM)7.96
Shares Outstanding1,053,692,300
10 Day Avg. Volume493,295
30 Day Avg. Volume535,438
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$186.17Price Target Upside38.15% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)13.51
Revenue Forecast (FY)AU$38.32B
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:Jul 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call presents a predominantly positive operational and financial picture: strong production, record free cash flow, substantial shareholder returns, a strong net cash position and cost discipline with AISC below guidance. However, meaningful near-term headwinds and risks remain — notably energy and input cost inflation, seismic-related cave establishment delays at Cadia (though operating caves resumed), working capital volatility, and an unresolved legal/JV dispute with Barrick — all of which introduce execution and cost uncertainty. On balance, the highlights (robust cash generation, earnings leverage, project approvals, share buybacks and a healthy balance sheet) materially outweigh the lowlights, though the company continues to monitor inflation and project timing risks.Positive Updates
Strong Production and Metal Output
Second quarter production of 1.3 million ounces of gold, 17,000 tonnes of copper and 7 million ounces of silver from the full portfolio; Q2 modestly ahead of April expectations with ~50,000 ounces pulled forward from the second half (driven by Yanacocha and Lihir).
Negative Updates
Rising Energy and Input Cost Pressure
Higher oil/diesel prices (average Brent ~ $100/barrel in Q2) contributed to CAS increases; company cites ~ $60 million full-year impact for every $10/barrel change in oil; ongoing monitoring of inflation in explosives, cyanide, grinding media, freight and labor.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Production and Metal Output
Second quarter production of 1.3 million ounces of gold, 17,000 tonnes of copper and 7 million ounces of silver from the full portfolio; Q2 modestly ahead of April expectations with ~50,000 ounces pulled forward from the second half (driven by Yanacocha and Lihir).
Read all positive updates
Company Guidance
Newmont said it remains on track to achieve its 2026 guidance after a strong Q2 in which the portfolio produced 1.3 million ounces of gold, 17,000 tonnes of copper and 7 million ounces of silver, with ~49% of full‑year production delivered in H1 (51% expected in H2), Q3 broadly in line with Q2 and Q4 the strongest; financials included a realized gold price of $4,414/oz, adjusted EBITDA of $3.8 billion, adjusted net income of $2.10/share, $2.9 billion of cash flow from operations after working capital and a record $2.2 billion of free cash flow, of which ~ $1.8–1.9 billion was returned to shareholders in the quarter (including >100 million shares repurchased since program start, ~9% fewer shares, and $1.7 billion repurchased under a $6 billion authorization, leaving ~$4.3 billion); costs remain within guidance with byproduct AISC of $1,621/oz versus full‑year guidance of $1,680/oz (CAS up ~4% YoY), a $10/barrel oil move implying ~ $60 million annual impact, and an expected ~$150 million Q‑on‑Q increase in sustaining capital into Q3; capex was $438 million sustaining and $285 million development in Q2 with full‑year sustaining guidance of $1.95 billion (≈58% H2 weighted) and development guidance of $1.4 billion (≈63% H2 weighted), ending the quarter with $3.4 billion net cash (target $1B ± $2B); site‑level project callouts included Lihir’s nearshore barrier unlocking >5 million ounces from 2028, Tanami expansion infrastructure due end‑Q3, Ahafo North reaching full run rate in Q4, and no expected full‑year production impact from the Cadia seismic event.Newmont Corporation CHESS Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
80
Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 25.74B | 22.87B | 18.68B | 11.81B | 11.91B | 12.22B |
| Gross Profit | 14.94B | 12.06B | 7.14B | 3.00B | 3.26B | 4.46B |
| EBITDA | 16.88B | 14.09B | 7.53B | 320.00M | 3.88B | 4.33B |
| Net Income | 8.62B | 7.33B | 3.35B | -2.49B | -429.00M | 1.17B |
Balance Sheet | ||||||
| Total Assets | 57.64B | 57.16B | 56.35B | 55.51B | 38.48B | 40.56B |
| Cash, Cash Equivalents and Short-Term Investments | 9.01B | 8.25B | 3.64B | 3.02B | 3.76B | 5.07B |
| Total Debt | 5.60B | 5.72B | 8.97B | 9.44B | 6.13B | 6.30B |
| Total Liabilities | 22.23B | 23.09B | 26.24B | 26.30B | 18.95B | 18.70B |
| Stockholders Equity | 35.24B | 33.89B | 29.93B | 29.03B | 19.35B | 22.02B |
Cash Flow | ||||||
| Free Cash Flow | 9.83B | 7.55B | 2.96B | 97.00M | 1.09B | 2.63B |
| Operating Cash Flow | 12.75B | 10.69B | 6.36B | 2.76B | 3.22B | 4.28B |
| Investing Cash Flow | -1.81B | 764.77M | -2.70B | -1.00B | -2.98B | -1.87B |
| Financing Cash Flow | -8.01B | -7.42B | -2.95B | -1.60B | -2.36B | -2.96B |
Newmont Corporation CHESS Technical Analysis
Positive
134.76
Price Trends
143.26
Positive
149.45
Positive
151.88
Positive
Market Momentum
8.80
Negative
76.58
Negative
88.13
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NEM, the sentiment is Positive. The current price of 134.76 is below the 20-day moving average (MA) of 150.63, below the 50-day MA of 143.26, and below the 200-day MA of 151.88, indicating a bullish trend. The MACD of 8.80 indicates Negative momentum. The RSI at 76.58 is Negative, neither overbought nor oversold. The STOCH value of 88.13 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
80 Outperform | AU$27.93B | 21.00 | 25.07% | 2.89% | 27.74% | 56.65% | |
78 Outperform | AU$184.74B | 16.06 | 25.02% | 1.09% | 17.80% | 33.91% | |
77 Outperform | AU$5.62B | 13.22 | 27.80% | 3.29% | 31.42% | ― | |
76 Outperform | AU$32.10B | 20.32 | 10.26% | 2.74% | 18.83% | 3.43% | |
70 Outperform | AU$5.43B | 22.94 | 12.35% | 0.65% | 101.97% | 237.66% | |
66 Neutral | AU$7.47B | 22.82 | 12.39% | 2.08% | 16.69% | 3.17% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
AU:NEM
Newmont Corporation CHESS
177.10
71.17
67.18%
AU:PRU
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6.13
2.61
74.30%
AU:NST
Northern Star Resources Ltd
23.94
6.05
33.83%
AU:EVN
Evolution Mining
15.07
7.18
90.90%
AU:RRL
Regis Resources Limited
8.23
3.88
89.37%
AU:WGX
Westgold Resources
6.23
3.03
94.44%
Newmont Corporation CHESS Corporate Events
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...
Newmont Reports Second-Quarter 2026 Results via SEC Filing
Jul 23, 2026
Newmont Corporation filed a current report to notify investors that it has issued a news release detailing its financial results and related information for the second quarter ended June 30, 2026. The disclosure reinforces Newmont’s ongoing ...
Newmont Executive Sells Shares Under Pre-Arranged Trading Plan
Jul 6, 2026
Newmont Corporation has disclosed a change in beneficial ownership by executive vice president and chief sustainability and development officer Peter Toth. Toth sold 3,000 shares of Newmont common stock at a price of $92.38 per share on July 1, 20...
Newmont Accounting Chief Discloses Initial Share Ownership
Jul 6, 2026
Newmont Corporation disclosed the initial beneficial ownership of securities for senior officer Joshua Cage, who serves as Group Head, Accounting and Chief Accounting Officer. The filing reports that Cage directly holds 14,643 shares of Newmont co...
Newmont sets date and webcast details for Q2 2026 results
Jul 1, 2026
Newmont Corporation will release its second-quarter 2026 financial results on 23 July in the U.S., with a corresponding 24 July date for Australian investors, and will host a results conference call and webcast for analysts and stakeholders. The a...
Newmont Executive Toth Plans Additional Insider Share Sale Under Trading Plan
Jul 1, 2026
Newmont executive Peter Toth has filed a notice to sell 3,000 shares of Newmont common stock on the New York Stock Exchange, with the trade to be executed through Fidelity Brokerage Services. The shares, valued at about $277,140, stem from restric...
Newmont Adjusts CDI and Common Stock Balances Through Transfers and Equity Awards
Jun 5, 2026
Newmont Corporation has reported a decline in CHESS Depositary Interests on issue for May 2026, with ASX-quoted CDIs falling to 78,791,794 from 80,657,787, reflecting net transfers between CDIs and common stock on the NYSE. The group’s total...
Newmont CEO Natascha Viljoen Sells Shares Under Prearranged Trading Plan
Jun 3, 2026
Newmont Corporation has disclosed that its president and chief executive, Natascha Viljoen, sold 3,882 shares of Newmont common stock on June 1, 2026, at a price of $105.32 per share. The transaction, executed under a prearranged Rule 10b5-1 tradi...
Newmont Sustainability Chief Sells Shares Under Pre-Set Trading Plan
Jun 3, 2026
Newmont executive vice president and chief sustainability and development officer Peter Toth has reported a sale of 3,000 shares of Newmont common stock at an average price of $105.32. The transaction, executed on June 1, 2026 under a pre-arranged...
Newmont Officer Plans Further Stock Sale Under Trading Plan
Jun 1, 2026
Newmont officer Peter Toth has filed a notice to sell 3,000 Newmont common shares on the NYSE, with the planned transaction valued at about $316,000 and executed through Fidelity Brokerage Services. The planned sale follows a series of recent mont...
Newmont Executive Plans Modest Insider Sale Under 10b5-1 Plan
Jun 1, 2026
Newmont Corp. disclosed that company officer and director Natascha Viljoen plans to sell 3,882 shares of Newmont common stock on the New York Stock Exchange in 2026, with an estimated market value of about $408,852. The shares are scheduled to ves...
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.