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Newmont Corporation CHESS
(Sydney:NEM)
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Rating:79Outperform
Price Target:
AU$156.00
â–¼(-0.22% Downside)
Action:Reiterated
Date:04/25/26
The score is driven primarily by strong financial performance (notably record free cash flow and improved profitability with solid balance-sheet leverage), supported by an attractive P/E valuation. The rating is tempered by weak-to-neutral technicals (below key moving averages, negative MACD) and earnings-call noted near-term operational/cost risks (Cadia-related Q2 impact, energy/royalty headwinds, and JV uncertainty), despite reaffirmed guidance and strong capital returns.
Positive Factors
Record free cash flow and strong cash generation
Sustained, high free cash flow provides durable funding for sustaining capex, development projects, dividends and buybacks without reliance on external financing. FCF exceeding net income and strong cash coverage strengthens resilience to downturns and supports strategic optionality over multiple quarters.
Negative Factors
Pronounced cyclicality and earnings volatility
Gold and base-metal price dependence causes material swings in revenue, margins and FCF. Such structural volatility complicates multi-quarter forecasting, capital allocation and sustaining returns; even with strong recent cash generation, earnings and balance-sheet metrics can reverse quickly in weaker price environments.
Read all positive and negative factors
Positive Factors
Negative Factors
Record free cash flow and strong cash generation
Sustained, high free cash flow provides durable funding for sustaining capex, development projects, dividends and buybacks without reliance on external financing. FCF exceeding net income and strong cash coverage strengthens resilience to downturns and supports strategic optionality over multiple quarters.
Read all positive factors
Newmont Corporation CHESS (NEM) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$142.25B
Dividend Yield0.96%
Average Volume (3M)535.44K
Price to Earnings (P/E)12.2
Beta (1Y)1.37
Revenue Growth22.90%
EPS Growth68.12%
CountryAU
Employees16,350
SectorGeneral
Sector StrengthN/A
IndustryGold
Share Statistics
EPS (TTM)7.75
Shares Outstanding1,067,552,700
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$186.83Price Target Upside19.50% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)13.78
Revenue Forecast (FY)AU$39.37B
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 metals—primarily gold—from its operated mines. Revenue is recognized when metal is delivered to customers under sales contracts, with realized pricing generally tied to prevailing market commodit...
Newmont Corporation CHESS Earnings Call Summary
Earnings Call Date:Apr 23, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational and financial performance in Q1 — record free cash flow, robust adjusted EBITDA, below-guidance AISC, and active capital returns (dividends and a new $6 billion buyback). Management maintained full-year guidance and outlined concrete mitigation levers for rising energy and royalty costs. Key near-term negatives include the Cadia seismic event (temporary Q2 production impact), ongoing Nevada Gold Mines JV dispute, energy price/supply-chain uncertainty, the Ghana royalty and contractor localization risk, and a recent fatality at Tanami. Overall, the positives (record cash generation, cost discipline, clear capital allocation, and project progress) outweigh the near-term operational and geopolitical headwinds, supporting a constructive outlook while acknowledging execution and cost risks in the short term.Positive Updates
Record Free Cash Flow and Strong Cash Generation
Generated $3.8 billion cash flow from operations after working capital and a record $3.1 billion free cash flow in Q1 2026, despite typical seasonal working capital headwinds. Free cash flow on a per-share basis is ~6% higher since the start of the share repurchase program.
Negative Updates
Cadia Seismic Event and Temporary Production Impact
Magnitude event in April at Cadia required emergency response; no injuries and limited damage, but underground rehabilitation required. Company processing surface stockpiles and expects underground rehabilitation in ~5 weeks to return to ~80% capacity, with full recovery by end of Q2. Q2 production expected to be lower due to the gap in mill feed.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Free Cash Flow and Strong Cash Generation
Generated $3.8 billion cash flow from operations after working capital and a record $3.1 billion free cash flow in Q1 2026, despite typical seasonal working capital headwinds. Free cash flow on a per-share basis is ~6% higher since the start of the share repurchase program.
Read all positive updates
Company Guidance
Newmont reiterated it is on track to meet 2026 guidance — full‑year production of 5.3 million ounces — after Q1 volumes of 1.3 Moz gold, 50 kt copper and 9 Moz silver, while warning Q2 will be slightly below Q1 as Cadia completes recovery (surface stockpile processing now, underground rehab in ~5 weeks to ~80% capacity and full recovery by end‑Q2) and sustaining capital ramps; Q1 sustaining capital was $381M and Q1 development capital $239M, with full‑year development capital guidance of $1.4B (weighted to H2). Financial and capital metrics included $3.8B cash flow from operations after working capital, a record $3.1B free cash flow (after ~$1.3B cash taxes), adjusted EBITDA $5.2B and adjusted EPS $2.90, and Q1 by‑product all‑in sustaining cost of $1,029/oz (below full‑year guidance). Management maintained cost guidance based on a $70/bbl Brent assumption (diesel ≈6% of direct operating cost), noting a ~$60M impact for every $10/bbl oil change (≈$12/oz AISC) and an incremental ~+$25/oz headwind from Ghana’s sliding‑scale royalty in 2026. The enhanced capital allocation framework prioritizes sustaining capex and a $1.1B/year total cash dividend (Q1 declared $0.26/share), a net cash target of $1B ± $2B, and excess cash to buybacks — the company returned ~$2.7B to shareholders YTD, repurchased $2.4B since the last call ( ~$6B repurchased over 24 months), received ~$321M after tax from noncore divestitures in Q1 (>$4.6B total proceeds to date), and announced a new $6B share repurchase authorization.Newmont Corporation CHESS Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
84
Very Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.93B | 22.87B | 18.68B | 11.81B | 11.91B | 12.22B |
| Gross Profit | 14.21B | 12.06B | 7.14B | 3.00B | 3.26B | 4.46B |
| EBITDA | 17.05B | 14.09B | 7.53B | 320.00M | 3.88B | 4.33B |
| Net Income | 8.48B | 7.33B | 3.35B | -2.49B | -429.00M | 1.17B |
Balance Sheet | ||||||
| Total Assets | 57.67B | 57.16B | 56.35B | 55.51B | 38.48B | 40.56B |
| Cash, Cash Equivalents and Short-Term Investments | 8.78B | 8.25B | 3.64B | 3.02B | 3.76B | 5.07B |
| Total Debt | 5.53B | 5.72B | 8.97B | 9.44B | 6.13B | 6.30B |
| Total Liabilities | 22.57B | 23.09B | 26.24B | 26.30B | 18.95B | 18.70B |
| Stockholders Equity | 34.93B | 33.89B | 29.93B | 29.03B | 19.35B | 22.02B |
Cash Flow | ||||||
| Free Cash Flow | 9.33B | 7.55B | 2.96B | 97.00M | 1.09B | 2.63B |
| Operating Cash Flow | 12.21B | 10.69B | 6.36B | 2.76B | 3.22B | 4.28B |
| Investing Cash Flow | -403.17M | 764.77M | -2.70B | -1.00B | -2.98B | -1.87B |
| Financing Cash Flow | -7.82B | -7.42B | -2.95B | -1.60B | -2.36B | -2.96B |
Newmont Corporation CHESS Technical Analysis
Negative
156.34
Price Trends
146.76
Negative
153.33
Negative
149.81
Negative
Market Momentum
-3.28
Negative
43.09
Neutral
24.34
Neutral
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 156.34 is above the 20-day moving average (MA) of 139.12, above the 50-day MA of 146.76, and above the 200-day MA of 149.81, indicating a bearish trend. The MACD of -3.28 indicates Negative momentum. The RSI at 43.09 is Neutral, neither overbought nor oversold. The STOCH value of 24.34 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | AU$142.25B | 12.24 | 25.22% | 0.96% | 22.90% | 68.12% | |
78 Outperform | AU$23.20B | 17.83 | 25.07% | 1.53% | 30.82% | 90.19% | |
78 Outperform | AU$6.88B | 17.24 | 28.87% | ― | 149.69% | 209.07% | |
67 Neutral | AU$6.42B | 17.55 | 12.39% | 1.32% | 16.69% | 3.17% | |
66 Neutral | AU$28.34B | 17.14 | 10.26% | 2.04% | 25.58% | 43.29% | |
66 Neutral | AU$5.57B | 11.70 | 9.94% | 1.92% | 13.34% | -15.96% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
AU:NEM
Newmont Corporation CHESS
134.96
42.92
46.63%
AU:PRU
Perseus Mining
4.85
1.27
35.63%
AU:NST
Northern Star Resources Ltd
19.88
3.49
21.26%
AU:EVN
Evolution Mining
11.78
4.28
56.98%
AU:RMS
Ramelius Resources Limited
3.00
0.52
21.16%
AU:GMD
Genesis Minerals Limited
6.00
1.79
42.52%
Newmont Corporation CHESS Corporate Events
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...
Newmont Interim CTO Discloses Initial Equity Stake in SEC Filing
May 10, 2026
Newmont Corporation has disclosed that Erin Elizabeth Workman, who serves as Interim Chief Technology Officer, holds 9,827 shares of the company’s common stock. The filing, made as an initial statement of beneficial ownership, reflects her e...
Newmont Adjusts CDI and Common Stock Balances Amid Cross-Market Transfers
May 7, 2026
Newmont Corporation reported a decline in its CHESS Depositary Interests on issue for April 2026, with CDIs over quoted securities falling to 80,657,787 from 82,059,728, driven by net transfers between CDIs and common stock listed on the NYSE. The...
Newmont Executive Peter Toth Sells Shares Under 10b5-1 Trading Plan
May 4, 2026
Newmont executive vice president and chief sustainability and development officer Peter Toth has sold 3,000 shares of Newmont common stock in a transaction dated May 1, 2026. The shares were sold at an average price of $110.11 each, leaving Toth w...
Newmont Interim CFO Reports Routine Stock Transactions Under Trading Plan
May 4, 2026
Newmont executive vice president, chief legal officer and interim chief financial officer Peter Wexler reported changes in his beneficial ownership of Newmont common stock. The transactions included shares withheld to cover tax obligations on vest...
Newmont Americas Executive Adjusts Stake Through Tax Withholding and Planned Share Sale
May 4, 2026
Newmont Corporation reported changes in insider holdings as David John Thornton, Managing Director for the Americas, adjusted his equity position in the company. The Form 4 filing shows that on April 30, 2026, 1,805 shares of common stock were wit...
Newmont Executive Plans Pre-Arranged Sale of Restricted Stock
May 3, 2026
Newmont Corporation has disclosed that company officer Peter Wexler plans to sell 13,378 shares of Newmont common stock, with an aggregate market value of about $1.47 million, through Fidelity Brokerage Services on the New York Stock Exchange. The...
Newmont Publishes 2025 Sustainability and Taxes & Royalties Reports
May 1, 2026
Newmont Corporation has released its 2025 Sustainability Report and 2025 Taxes and Royalties Contribution Report, making both documents available on its website for investors and other stakeholders. The publication underscores the company’s ...
Vanguard Discloses 7.7% Stake in Newmont Corporation
Apr 29, 2026
Vanguard Capital Management has disclosed a significant position in Newmont Corporation, reporting beneficial ownership of 83,245,026 Newmont common shares, representing 7.7 percent of the outstanding stock. The filing shows Vanguard holds sole vo...
Newmont Files CTO Retirement Disclosure With SEC
Apr 28, 2026
Newmont Corporation has notified investors that it has filed a Chief Technical Officer retirement report on Form 8-K with the U.S. Securities and Exchange Commission, with the document accessible via both the company’s website and the SEC...
Newmont Declares Quarterly Dividend for ASX CHESS Depositary Holders
Apr 23, 2026
Newmont Corporation has declared a quarterly ordinary dividend of USD 0.26 per CHESS Depositary Interest, equivalent to its NYSE-listed shares on a 1:1 basis. The dividend relates to the quarter ended 31 March 2026, with an ex-dividend date of 26 ...
Newmont Files First-Quarter 2026 Report With U.S. SEC
Apr 23, 2026
Newmont Corporation has filed its Quarterly Report for the period ended 31 March 2026 with the U.S. Securities and Exchange Commission as a Form 10-Q, making the document available to investors via both its own website and the SEC’s EDGAR sy...
Newmont files Q1 2026 results and schedules investor call
Apr 23, 2026
Newmont Corporation, a global gold and base metals producer with operations across several continents, emphasizes sustainable and responsible mining and holds a unique position as the only gold company in the SP 500 Index. The company leverages a ...
Newmont Flags Online Update on Earthquake Impact at Cadia Mine
Apr 17, 2026
Newmont Corporation has notified the Australian Securities Exchange that it has published an update on the impact to its Cadia operation following a magnitude 4.5 earthquake earlier in the week. The company directed investors and stakeholders to i...
Newmont flags seismic update at Cadia and highlights ongoing investor communications
Apr 15, 2026
Newmont Corporation has alerted investors that it has published an update on seismic activity near its Cadia operation, directing stakeholders to its website for the full media release. While the notice itself provides minimal operational detail, ...
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.