Newmont Corporation Registered Shs CHESS (AU:NEM)
ASX:NEM
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Newmont Corporation CHESS
(Sydney:NEM)
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Rating:79Outperform
Price Target:
AU$178.00
â–²(13.85% Upside)
Action:ReiteratedDate: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
Cash Generation
Record and recurring free cash flow provides durable internal funding for sustaining capex, project development, dividends and buybacks. Strong FCF underpins capital allocation flexibility and the ability to meet net cash targets, supporting resilience across the next 2–6 months.
Negative Factors
Commodity Cyclicality
Earnings, cash flow and returns remain highly sensitive to metal prices; this structural cyclicality increases forecasting risk for cash generation and capital planning across the next several months, complicating stable payout and investment profiles.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Record and recurring free cash flow provides durable internal funding for sustaining capex, project development, dividends and buybacks. Strong FCF underpins capital allocation flexibility and the ability to meet net cash targets, supporting resilience across the next 2–6 months.
Read all positive factors
Newmont Corporation CHESS (NEM) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$164.62B
Dividend Yield0.96%
Average Volume (3M)535.44K
Price to Earnings (P/E)8.7
Beta (1Y)1.40
Revenue Growth22.90%
EPS Growth68.12%
CountryAU
Employees22,200
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)4.06
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)4.73
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$205.96Price Target Upside31.74% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)14.52
Revenue Forecast (FY)AU$40.31B
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 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 29, 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 | 23.46B | 18.68B | 11.81B | 11.91B | 12.22B |
| Gross Profit | 14.21B | 11.97B | 7.14B | 3.00B | 3.26B | 4.46B |
| EBITDA | 17.05B | 13.98B | 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 | 5.59B | 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
163.03
Negative
158.41
Negative
136.64
Positive
Market Momentum
0.67
Negative
46.35
Neutral
20.51
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 154.94, below the 50-day MA of 163.03, and above the 200-day MA of 136.64, indicating a neutral trend. The MACD of 0.67 indicates Negative momentum. The RSI at 46.35 is Neutral, neither overbought nor oversold. The STOCH value of 20.51 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 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | AU$164.62B | 8.70 | 20.82% | 0.96% | 22.90% | 68.12% | |
78 Outperform | AU$24.17B | 8.35 | 25.07% | 1.53% | 30.82% | 90.19% | |
73 Outperform | AU$6.64B | 8.70 | 28.87% | ― | 149.69% | 209.07% | |
67 Neutral | AU$7.31B | 11.53 | 11.87% | 1.32% | 16.69% | 3.17% | |
66 Neutral | AU$30.04B | 13.37 | 10.26% | 2.04% | 25.58% | 43.29% | |
66 Neutral | AU$6.38B | -160.00 | 9.94% | 1.92% | 13.34% | -15.96% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
AU:NEM
Newmont Corporation CHESS
153.69
73.59
91.88%
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AU:GMD
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Newmont Corporation CHESS Corporate Events
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, ...
Newmont Discloses Shareholdings of Interim Chief People Officer
Apr 9, 2026
Newmont Corporation has disclosed the initial beneficial ownership of securities by Deborah Leyva, who serves as the company’s Interim Chief People Officer. According to the filing, Leyva directly holds 15,293 shares of Newmont common stock,...
Newmont reports March decline in ASX CDIs amid transfers to NYSE common stock
Apr 6, 2026
Newmont Corporation has reported updated figures for its CHESS Depositary Interests on issue for March 2026, showing that CDIs over its NYSE-quoted securities fell to 82,059,728 from 84,921,884 a month earlier. The company attributed the net reduc...
Newmont EVP Peter Toth Sells 3,000 Shares Under 10b5-1 Plan
Apr 6, 2026
Newmont executive vice president and chief sustainability and development officer Peter Toth has reported the sale of 3,000 shares of Newmont common stock. The transaction, executed on April 1, 2026 at a price of $113.09 per share, was carried out...
Newmont Executive Files to Sell Small Block of Shares Under Trading Plan
Apr 1, 2026
Newmont disclosed that company officer Peter I. Toth plans to sell 3,000 shares of Newmont common stock on the New York Stock Exchange, with an approximate market value of about $339,000. The planned transaction, executed through Fidelity Brokerag...
Newmont Sets Date for First-Quarter 2026 Results and Investor Call
Apr 1, 2026
Newmont Corporation, the world’s largest gold miner and a producer of several other base and precious metals, operates a globally diversified portfolio of mines and projects across major mining jurisdictions, including Africa, Australia, Lat...
Newmont files 2025 Annual Report and underscores global investor disclosure
Mar 26, 2026
Newmont Corporation, the world’s leading gold miner with additional production in copper, zinc, lead and silver, has a globally diversified portfolio concentrated in major mining jurisdictions including Africa, Australia, Latin America Cari...
Newmont Files 2026 Proxy Materials Ahead of Annual Stockholders Meeting
Mar 26, 2026
Newmont Corporation has lodged its 2026 Proxy Statement, Notice of Annual Meeting of Stockholders, and related proxy soliciting materials with the U.S. Securities and Exchange Commission, making these documents available to investors via both the ...
Vanguard Reports Zero Direct Beneficial Ownership in Newmont After Internal Realignment
Mar 26, 2026
The Vanguard Group has reported that, following an internal corporate realignment completed in January 2026, it no longer has beneficial ownership of Newmont Corporation’s common stock. The asset manager now reports a zero share position and...
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...
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.
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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.