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Newmont Corporation Registered Shs CHESS (AU:NEM)
ASX:NEM
Australian Market

Newmont Corporation CHESS (NEM) AI Stock Analysis

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AU:NEM

Newmont Corporation CHESS

(Sydney:NEM)

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Outperform 77 (OpenAI - 5.2)
Rating:77Outperform
Price Target:
AU$190.00
▲(3.58% Upside)
Action:ReiteratedDate:02/21/26
The score is driven primarily by improving financial performance (strong profit and cash-flow rebound alongside debt reduction) and a constructive earnings-call outlook (record cash flow and strengthened balance sheet). These positives are tempered by mixed near-term technical signals and a valuation profile that includes a modest dividend yield.
Positive Factors
Cash generation
Substantially higher operating and free cash flow across 2024–2025 materially improves the firm's ability to fund sustaining and growth capex, pay dividends, buy back shares, and withstand commodity downturns. Strong cash conversion underpins durable capital allocation flexibility despite cyclical swings.
Balance sheet strength
Material debt reduction and a strengthened equity base, plus near-zero net debt and a Moody's upgrade, lower financial risk and borrowing costs. This creates lasting strategic optionality for M&A, project funding, shareholder returns, and resilience against cyclical revenue drops.
Portfolio & projects
Adding Ahafo North and progressing projects (Tanami expansion, Cadia underground) extends mine life and diversifies production by geography and by-product metals. A deep project pipeline and global footprint support sustained production, margin resilience and long-term optionality.
Negative Factors
Cyclical earnings volatility
Earnings and returns have shown wide swings driven by commodity prices, grades and one-offs. Persistent volatility implies inconsistent ROE and cash flow timing, complicating multi-year planning and making long-term forecasts and dividend predictability vulnerable to commodity cycles.
Operational execution risks
Production setbacks at major assets reduce near- and medium-term output and can raise unit costs if grades or recoveries decline. Execution risks at large mines can persist for multiple years during transitions, pressuring margins, cash flow and target delivery from the project pipeline.
Regulatory & cost pressure
Higher government take or new royalty regimes in key jurisdictions would structurally reduce realized margins and free cash flow. Such policy shifts can persist multi-year, erode project economics, and limit the benefit of higher prices despite operational gains and cost discipline.

Newmont Corporation CHESS (NEM) vs. iShares MSCI Australia ETF (EWA)

Newmont Corporation CHESS Business Overview & Revenue Model

Company DescriptionNewmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana. The company was founded in 1916 and is headquartered in Denver, Colorado.
How the Company Makes MoneyNewmont Corporation generates revenue primarily through the extraction and sale of gold, which constitutes a significant portion of its income. The company operates several mines across North America, South America, Australia, and Africa, producing gold and copper, among other minerals. Key revenue streams include gold sales, which are influenced by market prices and demand for the metal, as well as copper and other by-product sales. Additionally, Newmont engages in hedging strategies to manage price fluctuations and ensure financial stability. The company also benefits from strategic partnerships and joint ventures that expand its operational reach and resource base, contributing positively to its earnings. Factors such as production efficiency, operational cost management, and global economic conditions also play a crucial role in shaping its financial performance.

Newmont Corporation CHESS Earnings Call Summary

Earnings Call Date:Oct 23, 2025
(Q3-2025)
|
% Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Positive
The earnings call highlighted strong financial performance, effective cost management, and strategic asset divestments that strengthened the balance sheet. However, challenges in specific operations and potential cost pressures were noted. Overall, the positive highlights, particularly the record cash flow and successful asset management, outweigh the lowlights.
Q3-2025 Updates
Positive Updates
Record Cash Flow and Financial Performance
Generated record third-quarter cash flow of $1.6 billion and achieved an all-time annual record of $4.5 billion with one quarter remaining. Adjusted EBITDA and adjusted net income increased by 20% from the second quarter and more than doubled last year's results.
Successful Asset Divestment Program
Received $640 million in net cash proceeds from equity and asset sales, marking successful completion of the asset divestment program.
Cost Discipline and Productivity Improvements
Improved 2025 guidance for several cost metrics while maintaining production and unit cost outlook. Reduced absolute cost guidance for G&A, Exploration, and Advanced Projects by approximately 15%.
Strengthened Balance Sheet
Ended the quarter in a near 0 debt position, retired $2 billion of debt, and received a credit rating upgrade from Moody's to A3 with a stable outlook.
Ahafo North Commercial Production
Declared commercial production at the new Ahafo North mine, expanding the footprint in Ghana and adding profitable gold production over an initial 13-year mine life.
Negative Updates
Operational Challenges at Specific Mines
Faced lower gold production at Peñasquito and Cadia due to planned mine sequences and transitions, impacting overall production expectations for 2026.
Potential Cost Pressure from External Factors
Ongoing risk of increased costs from profit sharing, royalties, and production taxes in a high gold price environment, potentially offsetting cost saving initiatives.
Company Guidance
During Newmont's Third Quarter 2025 Earnings Call, the company provided several key metrics and updates on its financial and operational performance. Newmont reported a record $1.6 billion in cash flow for the quarter, contributing to an all-time annual record of $4.5 billion, with one quarter remaining. The company also successfully retired $2 billion in debt, leading to a near-zero net debt position, and received a credit rating upgrade to A3 with a stable outlook from Moody’s. Additionally, Newmont generated $3.3 billion in adjusted EBITDA and $1.71 per share in adjusted net income, reflecting a 20% increase from the previous quarter. On the operational front, the company achieved commercial production at its Ahafo North mine in Ghana and made significant progress on other projects such as the expansion at Tanami and underground development at Cadia. Newmont's capital allocation strategy remains focused on maintaining a strong balance sheet, reinvesting in the business, and returning capital to shareholders, with $823 million returned through dividends and share repurchases since the last earnings call. Looking ahead, the company expects to maintain its production guidance while managing costs effectively, even as it navigates a high gold price environment.

Newmont Corporation CHESS Financial Statement Overview

Summary
Strong recovery into 2024–2025 with sharply higher revenue, a return to strong profitability after 2022–2023 losses, and materially improved operating and free cash flow. Balance sheet strength also improved with meaningful debt reduction by 2025, but results remain cyclical and historically volatile.
Income Statement
78
Positive
Profitability and growth improved meaningfully into 2024–2025, with revenue rebounding sharply (2024 up ~58% and 2025 up ~10%) and net income turning strongly positive after losses in 2022–2023. The earnings profile is volatile, however—2022 and 2023 were loss-making with weaker operating performance, highlighting sensitivity to commodity prices, costs, and one-off items.
Balance Sheet
80
Positive
The balance sheet looks solid with sizable equity relative to debt, and leverage trending down: total debt fell from ~9.4B (2023) to ~9.0B (2024) and then to ~5.6B (2025), while equity grew to ~33.9B (2025). Return on equity swung from negative in 2022–2023 to positive in 2024, but the sharp profitability swings suggest asset returns can be inconsistent through the cycle.
Cash Flow
83
Very Positive
Cash generation strengthened significantly, with operating cash flow rising from ~2.8B (2023) to ~6.4B (2024) and ~10.7B (2025), and free cash flow improving from near breakeven in 2023 to ~3.0B (2024) and ~7.6B (2025). A key risk is variability—free cash flow contracted sharply in 2022–2023 before the rebound, reflecting cyclical and project/investment-driven swings.
BreakdownDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue23.46B18.68B11.81B11.91B12.22B
Gross Profit11.97B7.14B3.00B3.26B4.46B
EBITDA13.98B7.53B320.00M3.88B4.33B
Net Income7.33B3.35B-2.49B-429.00M1.17B
Balance Sheet
Total Assets57.16B56.35B55.51B38.48B40.56B
Cash, Cash Equivalents and Short-Term Investments8.25B3.64B3.02B3.76B5.07B
Total Debt5.59B8.97B9.44B6.13B6.30B
Total Liabilities23.09B26.24B26.30B18.95B18.70B
Stockholders Equity33.89B29.93B29.03B19.35B22.02B
Cash Flow
Free Cash Flow7.55B2.96B97.00M1.09B2.63B
Operating Cash Flow10.69B6.36B2.76B3.22B4.28B
Investing Cash Flow764.77M-2.70B-1.00B-2.98B-1.87B
Financing Cash Flow-7.42B-2.95B-1.60B-2.36B-2.96B

Newmont Corporation CHESS Technical Analysis

Technical Analysis Sentiment
Positive
Last Price183.44
Price Trends
50DMA
166.26
Positive
100DMA
149.85
Positive
200DMA
124.81
Positive
Market Momentum
MACD
3.70
Negative
RSI
63.05
Neutral
STOCH
78.99
Neutral
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 183.44 is above the 20-day moving average (MA) of 171.04, above the 50-day MA of 166.26, and above the 200-day MA of 124.81, indicating a bullish trend. The MACD of 3.70 indicates Negative momentum. The RSI at 63.05 is Neutral, neither overbought nor oversold. The STOCH value of 78.99 is Neutral, 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 52 risk factors in its most recent earnings report. Newmont Corporation CHESS reported the most risks in the "Production" 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

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
78
Outperform
AU$34.26B25.5319.86%1.53%35.31%115.08%
77
Outperform
AU$182.87B18.5020.82%0.96%29.25%
76
Outperform
AU$43.91B25.9511.04%2.04%30.35%102.55%
75
Outperform
AU$8.67B17.5828.58%1.92%36.34%110.55%
73
Outperform
AU$8.20B14.9421.17%1.32%23.35%15.96%
73
Outperform
AU$9.29B23.1619.70%109.79%158.18%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:NEM
Newmont Corporation CHESS
183.44
116.48
173.95%
AU:PRU
Perseus Mining
6.07
3.12
105.76%
AU:NST
Northern Star Resources Ltd
30.71
13.69
80.41%
AU:EVN
Evolution Mining
16.87
10.79
177.42%
AU:RMS
Ramelius Resources Limited
4.51
1.91
73.66%
AU:GMD
Genesis Minerals Limited
8.13
4.92
153.27%

Newmont Corporation CHESS Corporate Events

Newmont Sets Quarterly US$0.26 Distribution for ASX CDIs
Feb 19, 2026

Newmont Corporation has declared a quarterly cash distribution of US$0.26 per CHESS Depositary Interest, relating to the period ending 31 December 2025. The dividend for ASX-listed CDIs will trade ex-dividend on 2 March 2026, with a record date of 3 March 2026 and payment scheduled for 26 March 2026, underscoring the miner’s ongoing commitment to regular shareholder returns.

The announcement confirms that the payout follows the company’s standard quarterly timetable, with no additional shareholder, court or regulatory approvals required ahead of the distribution. This regularised dividend profile provides income visibility for investors in Newmont’s ASX-listed securities and signals continued operational and financial stability heading into 2026.

The most recent analyst rating on (AU:NEM) stock is a Buy with a A$185.00 price target. To see the full list of analyst forecasts on Newmont Corporation CHESS stock, see the AU:NEM Stock Forecast page.

Newmont files 2025 results, sets earnings call to brief investors
Feb 19, 2026

Newmont Corporation has announced that it has filed its Fourth Quarter and Full Year 2025 results and 2026 guidance with the U.S. Securities and Exchange Commission as a Form 8-K, with the materials also available on the company’s website and through the SEC’s EDGAR system. The miner will host an earnings conference call to discuss the results, and a webcast replay will be made available online, signaling active engagement with investors and analysts around its latest financial performance and outlook.

The company is also promoting its investor communications channels by encouraging stakeholders to sign up for direct email updates on financial releases, events, and performance reports. This continued emphasis on transparency and accessibility underlines Newmont’s effort to maintain strong relationships with global investors and media across its key operating regions.

The most recent analyst rating on (AU:NEM) stock is a Buy with a A$185.00 price target. To see the full list of analyst forecasts on Newmont Corporation CHESS stock, see the AU:NEM Stock Forecast page.

Newmont Files 2025 Annual Report With U.S. SEC
Feb 19, 2026

Newmont Corporation, the world’s leading gold producer with additional output of copper, zinc, lead, and silver, operates a global portfolio across key mining jurisdictions including Africa, Australia, Latin America and the Caribbean, North America, and Papua New Guinea. The century‑old miner is the only gold company in the S&P 500 Index and emphasizes ESG performance, safety, and technical excellence as central to its long‑term strategy.

Newmont has filed its Annual Report for the year ended 31 December 2025 with the U.S. Securities and Exchange Commission as a Form 10‑K, making the detailed financial and operational disclosure available via both its own investor website and the SEC’s EDGAR system. The filing underscores ongoing transparency and regulatory compliance for shareholders across its U.S., Australian, and Papua New Guinean listings, and is expected to inform investor assessment of the company’s recent performance and outlook ahead of upcoming market communications and events.

The most recent analyst rating on (AU:NEM) stock is a Buy with a A$185.00 price target. To see the full list of analyst forecasts on Newmont Corporation CHESS stock, see the AU:NEM Stock Forecast page.

Newmont Outlines Stance on North American Joint Ventures After Barrick IPO Move
Feb 10, 2026

Newmont Corporation, a global mining leader focused on gold with additional production of copper, zinc, lead, and silver, operates a broad portfolio of assets across major mining regions including Africa, Australia, Latin America and the Caribbean, North America, and Papua New Guinea. It holds a unique position as the only gold producer in the S&P 500 Index and is noted for its commitment to ESG principles, safety, and long-term value creation.

The company has notified investors that it has published a release outlining its position on its North American joint venture operations following Barrick’s initial public offering announcement. While the detailed statement is available on Newmont’s website, the move signals active engagement with market developments around the joint ventures and provides stakeholders with updated context on how Newmont views the implications of Barrick’s transaction for its regional operations.

The announcement, authorized by senior legal and governance leadership, underscores the importance Newmont places on formal communication with regulators and shareholders. The company also encouraged investors and media to stay informed through its direct update channels, highlighting a continued focus on transparency and ongoing dialogue with global and regional stakeholders.

The most recent analyst rating on (AU:NEM) stock is a Buy with a A$185.00 price target. To see the full list of analyst forecasts on Newmont Corporation CHESS stock, see the AU:NEM Stock Forecast page.

Newmont Adjusts CDI and Common Stock Balances Amid Ongoing Capital Management
Feb 5, 2026

Newmont Corporation has reported its CHESS Depositary Interest (CDI) position for January 2026, confirming a 1:1 CDI ratio over its NYSE-quoted common stock and detailing movements between its Australian CDIs and U.S.-listed shares. The total number of CDIs on issue fell to 87,574,388 from 90,392,673 over the month, reflecting net transfers from CDIs into common stock on the NYSE, while total common shares outstanding increased to 1,000,449,608 due to these transfers and stock compensation plan distributions, signalling ongoing capital management and active use of equity-based remuneration for stakeholders.

The most recent analyst rating on (AU:NEM) stock is a Buy with a A$190.00 price target. To see the full list of analyst forecasts on Newmont Corporation CHESS stock, see the AU:NEM Stock Forecast page.

Newmont Reaffirms Compliance With NYSE Rules as ASX Foreign Exempt Listing
Feb 5, 2026

Newmont Corporation has confirmed to the Australian Securities Exchange that, as an ASX Foreign Exempt Listing, it continues to comply with the listing rules of its primary home exchange, the New York Stock Exchange. The annual confirmation reinforces Newmont’s adherence to its core regulatory requirements and provides assurance to ASX investors and regulators about the company’s ongoing compliance status across multiple jurisdictions.

The most recent analyst rating on (AU:NEM) stock is a Buy with a A$190.00 price target. To see the full list of analyst forecasts on Newmont Corporation CHESS stock, see the AU:NEM Stock Forecast page.

Newmont Sets Date for Fourth-Quarter and Full-Year 2025 Results Release and Call
Jan 14, 2026

Newmont Corporation has announced it will publish its fourth-quarter and full-year 2025 financial results on 19 February 2026 in the U.S. (20 February AEDT), followed by a results conference call and webcast for investors and analysts. The scheduled disclosure underlines the miner’s regular financial reporting cadence and offers stakeholders a key opportunity to assess Newmont’s operational performance and strategic progress across its global portfolio as it navigates market conditions in the precious and base metals sectors.

The most recent analyst rating on (AU:NEM) stock is a Buy with a A$177.00 price target. To see the full list of analyst forecasts on Newmont Corporation CHESS stock, see the AU:NEM Stock Forecast page.

Newmont Reduces ASX CDI Float as Common Stock Base Expands in December
Jan 8, 2026

Newmont Corporation has reported a decrease in the number of CHESS Depositary Interests (CDIs) on issue on the ASX for December 2025, with CDIs over its NYSE-quoted securities falling to 90,392,673 from 92,898,433, reflecting net transfers of holdings between CDIs and common stock traded under the NEM ticker in New York. Over the same period, the total number of Newmont common shares not represented by CDIs rose to 998,138,175 from 996,583,132, driven by transfers from CDIs back into common stock and issuances under stock compensation plans, indicating ongoing capital structure adjustments and routine equity-based remuneration activity that slightly shifts the balance between its Australian and U.S. investor registers.

The most recent analyst rating on (AU:NEM) stock is a Buy with a A$175.00 price target. To see the full list of analyst forecasts on Newmont Corporation CHESS stock, see the AU:NEM Stock Forecast page.

Newmont Flags Boddington Bushfire Update to ASX Investors
Jan 7, 2026

Newmont Corporation has notified the Australian Securities Exchange that it has published a release titled “Boddington – December/January Bushfires,” which is available on the company’s website. The announcement signals that Newmont is formally updating investors and stakeholders on matters related to bushfires affecting its Boddington operations, underscoring the company’s approach to transparent communication and regulatory disclosure across its global listings.

The most recent analyst rating on (AU:NEM) stock is a Buy with a A$175.00 price target. To see the full list of analyst forecasts on Newmont Corporation CHESS stock, see the AU:NEM Stock Forecast page.

Newmont Corporation Updates Dividend Distribution Details
Dec 16, 2025

Newmont Corporation has updated its previous announcement regarding its dividend distribution to include the currency exchange rate. The update also highlights the tax implications for non-resident holders and the payment procedures for holders in different regions, ensuring compliance with U.S. tax laws and Newmont’s direct credit policy.

The most recent analyst rating on (AU:NEM) stock is a Buy with a A$190.00 price target. To see the full list of analyst forecasts on Newmont Corporation CHESS stock, see the AU:NEM Stock Forecast page.

Newmont Corporation Reports Changes in Securities Distribution
Dec 3, 2025

Newmont Corporation announced a decrease in the number of CHESS Depositary Interests (CDIs) issued over its quoted securities, with a net reduction of 2,298,671 CDIs from the previous month. This change is attributed to net transfers between CDIs and common stock, reflecting adjustments in the company’s securities distribution. The total number of common stock securities increased by 940,001 due to transfers from CDIs and stock compensation plan distributions, indicating strategic management of its equity structure.

The most recent analyst rating on (AU:NEM) stock is a Buy with a A$190.00 price target. To see the full list of analyst forecasts on Newmont Corporation CHESS stock, see the AU:NEM Stock Forecast page.

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.Date of analysis: Feb 21, 2026