홈/NEM

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NEMNYSE/materials

Newmont Corporation

$93.10Down-2.19 (-2.30%)
Research reviewed: 2026년 7월 12일 AM 12:00 UTC
Research overview3-month price contextInvestment thesisKey catalystsLatest earnings researchRecent newsData and research sources

Research overview

Newmont Corporation operates in Gold within the materials sector. This profile tracks its company-specific earnings drivers, valuation conditions, and primary-source risks.

开盘
93.73
最高
94.14
最低
92.44
市值
993.89亿
市盈率
12.08
52 周高点
--
股息
1.090%
季度分红金额
--

3-month price context

최근 3개월 추세를 통해 전체 리서치 워크스페이스로 가기 전 단기 구조를 빠르게 파악할 수 있습니다.

Investment thesis

Base case
Strong realized gold prices can expand free cash flow from Newmont's portfolio and fund capital returns and reinvestment. The base case remains conditional on metal-price volatility staying manageable.
Bull case
Strong realized gold prices can expand free cash flow from Newmont's portfolio and fund capital returns and reinvestment. Completing non-core divestitures and concentrating capital on higher-return managed assets can improve portfolio quality and operating focus. A net-cash position and expanded repurchase authorization can increase per-share exposure to portfolio cash generation when commodity conditions remain supportive.
Bear case
Lower gold and co-product prices would reduce revenue, reserve economics, free cash flow and capital-return capacity. Grade variability, weather, maintenance, labor, energy and project execution can disrupt production and lift all-in sustaining costs. Permitting, fiscal changes, community relations and reclamation obligations across multiple jurisdictions can delay projects and increase liabilities.
Thesis invalidation
Reassess the thesis if lower gold and co-product prices would reduce revenue, reserve economics, free cash flow and capital-return capacity.

Key catalysts

  • Gold-price cash generation

    Strong realized gold prices can expand free cash flow from Newmont's portfolio and fund capital returns and reinvestment.

  • Portfolio optimization

    Completing non-core divestitures and concentrating capital on higher-return managed assets can improve portfolio quality and operating focus.

  • Capital-return framework

    A net-cash position and expanded repurchase authorization can increase per-share exposure to portfolio cash generation when commodity conditions remain supportive.

Principal risks

  • Metal-price volatility

    Lower gold and co-product prices would reduce revenue, reserve economics, free cash flow and capital-return capacity.

  • Mine execution and cost

    Grade variability, weather, maintenance, labor, energy and project execution can disrupt production and lift all-in sustaining costs.

  • Jurisdiction and reclamation

    Permitting, fiscal changes, community relations and reclamation obligations across multiple jurisdictions can delay projects and increase liabilities.

Latest earnings research

Q1 2026

Newmont reported first-quarter 2026 results with record quarterly earnings and free cash flow, reaffirmed production guidance and expanded its share-repurchase authorization.

Valuation interpretation

  • Current cash generation should be viewed through a normalized gold-price lens because commodity prices can dominate near-term earnings and capital returns.
  • Portfolio simplification and balance-sheet strength improve resilience, while mine-life replacement, sustaining capital and jurisdictional obligations remain central to long-term value.

Peer research

LINFCXSHW

Recent news

Zacks · 13小时前

Is Trending Stock Newmont Corporation (NEM) a Buy Now?

Proactive · 3天前

Surface Metals advances Nevada Gold and Lithium projects toward key milestones

Trefis · 4天前

Make Your FCX Shares Pay You 15% While You Hold Them

Zacks · 4天前

Should You Buy, Sell or Hold AEM Stock After a 31% Drop in 3 Months?

Zacks · 4天前

Newmont Corporation (NEM) Outperforms Broader Market: What You Need to Know

Simply Wall St. · 4天前

Newmont (NEM) Stock Looks Cheap On Earnings While Cash Flow Looks Fair

Data and research sources

Research updated: 2026년 7월 12일 AM 12:00 UTC
3 verified sources
Newmont Generates Record Quarterly Earnings and Free Cash Flow, Reports First Quarter 2026 ResultsNewmont Corporation · earningsVerified

Fetched: 2026. 7. 12. AM 12시 0분 0초 UTC

Published: 2026. 4. 23. AM 12:00:00

Open original source
Newmont Investor RelationsNewmont Corporation · companyVerified

Fetched: 2026. 7. 12. AM 12시 0분 0초 UTC

Open original source
Form 10-Q for the Quarter Ended March 31, 2026Newmont Corporation · filingVerified

Fetched: 2026. 7. 12. AM 12시 0분 0초 UTC

Published: 2026. 4. 23. AM 12:00:00

Open original source

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