Headquartered in Denver, Colorado, Newmont Corporation (NEM) is a leading global gold mining company. With a market cap of $48.6 billion, Newmont is dedicated to responsible mining, delivering long-term value through sustainable operations and strategic asset management. The company’s diverse portfolio includes world-class gold and copper assets across North America, South America, Australia, and Africa, supported by a commitment to environmental stewardship, innovation, and operational excellence.
Shares of Newmont have outperformed the broader market over the past year. Over the past 52 weeks, NEM stock has gained 25.3% compared to the S&P 500 Index’s ($SPX) 20.9% returns. In 2025, NEM is up 15.9%, compared to the SPX’s 1.9% gains on a YTD basis.
However, zooming in further, NEM has underperformed the Ishares MSCI Global Gold Miners ETF’s (RING) 48.5% returns over the past 52 weeks and 17.1% gains on a YTD basis.
On Jan. 2, NEM stock gained over 3% as gold prices climbed more than 1% to a two-week high. Earlier, on Nov. 18, shares climbed more than 2% after the company agreed to sell its Musselwhite operation to Orla Mining Ltd (ORLA) for $850 million.
On Oct. 23, Newmont reported its Q3 earnings, causing shares to drop over 14%. Revenue increased 84.7% year over year to $4.61 billion, but adjusted EPS of $0.81 missed the consensus estimate of $0.83. Additionally, Newmont partnered with MKS PAMP to launch a traceable mine-to-market gold bar, available through the largest U.S. wholesaler, reinforcing its commitment to transparent sourcing.
For the fiscal year, which ended in December 2024, analysts expect Newmont’s EPS to grow 90.1% year over year to $3.06. The company’s earnings surprise history is mixed. It beat the consensus estimate in two of the past four quarters while missing the forecasts on two other occasions.
Among the 18 analysts covering the NEM stock, the consensus rating is a “Moderate Buy.” That’s based on nine “Strong Buy” ratings, one “Moderate Buy,” and eight “Holds.”
This configuration is more bullish than three months ago, with seven analysts recommending a “Strong Buy.”
On Jan. 28, Raymond James analyst Brian MacArthur lowered Newmont's price target to $58 from $59 while maintaining an “Outperform” rating. The adjustment follows Newmont’s agreement to sell its Porcupine operation in Ontario to Discovery Silver.
NEM’s mean price target of $53.75 represents a premium of 24.7% from current price levels. The Street-high target of $72.32 indicates an ambitious potential upside of 67.7%.
