Newmont Corporation Registered Shs CHESS (AU:NEM)
ASX:NEM
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Newmont Corporation CHESS
(Sydney:NEM)
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Rating:73Outperform
Price Target:
AU$166.00
â–²(4.19% Upside)
Action:UpgradedDate:03/26/26
The score is driven primarily by strong financial performance (sharp improvement in profitability and cash flow alongside debt reduction). Earnings call signals reinforce financial strength and shareholder returns, but the rating is held back by weak technical momentum and near-term operational/guidance headwinds (2026 production trough and higher near-term cash outflows).
Positive Factors
Strong cash generation
Sustained, material free cash flow in 2025 demonstrates the company can internally fund sustaining and development capital, service obligations, and return capital to shareholders. Durable cash generation improves resilience to commodity cycles and funds optional growth without heavy new leverage.
Negative Factors
2026 production trough
A guided one‑year production trough reduces near‑term revenue and cash flow, pressuring internal funding of elevated capex and reclamation. Lower ounces can raise per‑unit costs and delay reaching the firm’s longer‑term ~6.0M oz target, concentrating execution risk into 2026.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained, material free cash flow in 2025 demonstrates the company can internally fund sustaining and development capital, service obligations, and return capital to shareholders. Durable cash generation improves resilience to commodity cycles and funds optional growth without heavy new leverage.
Read all positive factors
Newmont Corporation CHESS (NEM) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$179.57B
Dividend Yield0.96%
Average Volume (3M)535.44K
Price to Earnings (P/E)20.7
Beta (1Y)1.35
Revenue Growth29.25%
EPS GrowthN/A
CountryAU
Employees22,200
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)3.56
Shares Outstanding1,087,874,300
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)4.73
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$205.16Price Target Upside28.76% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)14.46
Revenue Forecast (FY)AU$40.54B
Newmont Corporation CHESS Business Overview & Revenue Model
Company Description
Newmont 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, Argentin...
How the Company Makes Money
Newmont makes money mainly by producing and selling gold, which is its principal product. Revenue is generated when refined gold (e.g., doré or refined bullion) is sold to third-party customers such as refineries, bullion banks, traders, and indus...
Newmont Corporation CHESS Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 23, 2026
Earnings Call Sentiment Positive
The call communicated strong operational execution and material financial strength in 2025 — highlighted by record free cash flow ($7.3B FY), significant returns to shareholders ($3.4B), completed divestitures ($4.5B) and portfolio-scale reserves (118Moz). Management introduced a disciplined, shareholder-friendly capital allocation framework and delivered meaningful cost and G&A improvements (G&A down ~$100M, 21%). Near-term headwinds were acknowledged: a production trough in 2026 (~5.3Moz guidance, down ~7%), operational incidents (Tanami fatality, Boddington fires), a JV performance dispute at Nevada Gold Mines, reclassification of 4.5Moz at Yanacocha and elevated sustaining/reclamation and tax cash outflows in Q1. Overall the positives — substantial cash generation, capital returns and clear project optionality backed by a large reserve/resource base — outweigh the near-term operational and timing challenges, with management signaling a path back to growth in 2027+.Positive Updates
Achieved Full-Year Guidance and Strong Production
Newmont met 2025 production and cost guidance, producing 5.7 million ounces of gold (core portfolio), 28 million ounces of silver and 135,000 tonnes of copper, delivering a stable production profile and operational consistency.
Negative Updates
Fatality at Tanami and Safety Investigation
A tragic fatal incident at Tanami (employee Matthew Middlebrook) led to an internal investigation; shaft infrastructure work was paused pending root-cause review (operations and other development activity have largely resumed).
Read all updates
Q4-2025 Updates
Positive
Negative
Achieved Full-Year Guidance and Strong Production
Newmont met 2025 production and cost guidance, producing 5.7 million ounces of gold (core portfolio), 28 million ounces of silver and 135,000 tonnes of copper, delivering a stable production profile and operational consistency.
Read all positive updates
Company Guidance
The company provided high‑confidence 1‑year (±5%) 2026 guidance of 5.3 million attributable ounces of gold (3.9 million from managed operations, 1.4 million non‑managed), with production roughly evenly weighted through the year and a modest H2 bias (~52%); management reiterated a longer‑term target of ~6.0 million oz gold and ~150,000 t copper annually. By‑product all‑in sustaining cost is guided to ~$1,680/oz (assumes $4,500/oz gold, $60/oz silver, $5/lb copper; every $100/oz gold change adds ~$6/oz to AISC), sustaining capital ~$1.95 billion (≈52% H2), development capital ~$1.4 billion (≈55% H2), exploration/advanced projects ≈$525 million, and reclamation ≈$850 million in 2026 (normalizing to $300–$400 million by 2028). The company generated $2.8 billion Q4 FCF and $7.3 billion FY FCF, realized $4.5 billion of noncore divestiture proceeds, returned $3.4 billion to shareholders in 2025, and has an enhanced capital allocation framework that prioritizes sustaining cap and a $1.1 billion/year dividend (Q4 declared $0.26/share, +4%) with excess cash used for ratable buybacks after maintaining a $1 billion net cash target ±$2 billion and a minimum cash balance of $5 billion (currently $2.4 billion remaining on a $6 billion buyback). Additional relevant metrics highlighted: 2025 production of 5.7M oz gold, 28M oz silver and 135k t copper; reserves 118M oz and resources 149M oz (~40 years of production); Ahafo North adds ~300k oz/year; Red Chris feasibility and other project milestones targeted in H2 2026–2027; expect >$1 billion of Q1 2026 tax payments.Newmont Corporation CHESS Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
80
Positive
Cash Flow
83
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 23.46B | 18.68B | 11.81B | 11.91B | 12.22B |
| Gross Profit | 11.97B | 7.14B | 3.00B | 3.26B | 4.46B |
| EBITDA | 13.98B | 7.53B | 320.00M | 3.88B | 4.33B |
| Net Income | 7.33B | 3.35B | -2.49B | -429.00M | 1.17B |
Balance Sheet | |||||
| Total Assets | 57.16B | 56.35B | 55.51B | 38.48B | 40.56B |
| Cash, Cash Equivalents and Short-Term Investments | 8.25B | 3.64B | 3.02B | 3.76B | 5.07B |
| Total Debt | 5.59B | 8.97B | 9.44B | 6.13B | 6.30B |
| Total Liabilities | 23.09B | 26.24B | 26.30B | 18.95B | 18.70B |
| Stockholders Equity | 33.89B | 29.93B | 29.03B | 19.35B | 22.02B |
Cash Flow | |||||
| Free Cash Flow | 7.55B | 2.96B | 97.00M | 1.09B | 2.63B |
| Operating Cash Flow | 10.69B | 6.36B | 2.76B | 3.22B | 4.28B |
| Investing Cash Flow | 764.77M | -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
Positive
159.33
Price Trends
164.70
Negative
155.66
Positive
133.20
Positive
Market Momentum
-3.77
Negative
52.65
Neutral
89.02
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 159.33 is above the 20-day moving average (MA) of 152.94, below the 50-day MA of 164.70, and above the 200-day MA of 133.20, indicating a neutral trend. The MACD of -3.77 indicates Negative momentum. The RSI at 52.65 is Neutral, neither overbought nor oversold. The STOCH value of 89.02 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 53 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 (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | AU$26.44B | 8.35 | 25.07% | 1.53% | 35.31% | 115.08% | |
73 Outperform | AU$179.57B | 20.65 | 20.82% | 0.96% | 29.25% | ― | |
73 Outperform | AU$6.71B | 8.70 | 28.87% | ― | 109.79% | 158.18% | |
67 Neutral | AU$7.11B | 11.53 | 12.40% | 1.32% | 23.35% | 15.96% | |
66 Neutral | AU$31.34B | 13.37 | 10.26% | 2.04% | 30.35% | 102.55% | |
66 Neutral | AU$6.98B | -160.00 | 9.94% | 1.92% | 36.34% | 110.55% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
AU:NEM
Newmont Corporation CHESS
159.33
84.17
111.98%
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Newmont Corporation CHESS Corporate Events
Newmont Updates ASX CDI Dividend Notice With Currency Exchange Details
Mar 23, 2026
Newmont Corporation has updated its dividend notification for CHESS Depositary Interests traded on the ASX under code NEM, clarifying that the announced ordinary quarterly distribution relates to the period ended 31 December 2025. The update, date...
Newmont Executive Peter Toth Sells Shares Under Pre-Planned Trading Plan
Mar 22, 2026
Newmont executive vice president and chief sustainability and development officer Peter Toth reported a sale of 3,000 shares of Newmont common stock on March 18, 2026, at a price of $108 per share. Following this transaction, which was executed un...
Newmont Executive Schedules Routine Sale of Restricted Stock Under 10b5-1 Plan
Mar 18, 2026
Newmont Corporation disclosed that company officer Peter Toth plans to sell 3,000 shares of Newmont common stock on the New York Stock Exchange, with an estimated aggregate market value of $324,000. The shares relate to restricted stock units sche...
Newmont Executive Plans Routine Sale of Vested Restricted Stock
Mar 16, 2026
Newmont Corporation has disclosed a planned sale of 18,394 common shares on the New York Stock Exchange on March 16, 2026, with an aggregate market value of about $2.05 million. The transaction is being executed through Fidelity Brokerage Services...
Newmont Updates ASX on February CDI Movements and Share Count
Mar 4, 2026
Newmont Corporation reported its February 2026 CHESS Depositary Interest position on the ASX, showing 84,921,884 CDIs on issue over its NYSE-quoted common stock, down from 87,574,388 a month earlier due to net transfers between CDIs and common sha...
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...
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 an...
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 ...
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...
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 numb...
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 reinfo...
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 schedul...
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 hold...
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 tha...
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.