Newmont Corporation
- Open
- 93.80
- Day high
- 95.73
- Day low
- 93.80
- Prev close
- 94.81
- Volume
- 4.4M
- Mkt cap
- $101.7B
- P/E (TTM)
- 12.3
- EPS (TTM)
- $7.74
- P/B
- 2.9
- P/S
- 4.2
- Yield
- 1.07%
- Per share
- $1.02
- ▼Insiders net selling -$2.3M over the last 3 months (0 open-market buys, 4 sales)
- 🏛Institutions accumulating (13F)
Newmont Corporation (NEM) is a Basic Materials company listed on NYSE. The stock is up 59% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 4 sales (SEC Form 4). Drillr has 6 published research articles covering NEM.
Newmont Corporation (NEM) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 7 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NEM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $2.07 | $2.90 | +40.1% | $7.3B | +8.0% |
| Feb 19, 2026 | $2.07 | $2.52 | +21.7% | $7.1B | +14.7% |
| Oct 23, 2025 | $1.44 | $1.71 | +18.8% | $5.4B | +3.6% |
| Jul 24, 2025 | $0.91 | $1.43 | +58.0% | $5.3B | +12.3% |
| Apr 23, 2025 | $0.92 | $1.25 | +36.5% | $5.0B | +6.5% |
| Feb 20, 2025 | $1.11 | $1.40 | +26.1% | $5.7B | +11.2% |
| Oct 23, 2024 | $0.86 | $0.81 | -5.8% | $4.6B | -0.7% |
| Jul 24, 2024 | $0.62 | $0.72 | +16.1% | $4.3B | +4.3% |
| Apr 25, 2024 | $0.36 | $0.55 | +53.0% | $4.0B | +9.3% |
| Feb 22, 2024 | $0.51 | $0.50 | -2.0% | $4.0B | -21.2% |
| Oct 26, 2023 | $0.42 | $0.36 | -14.3% | $2.5B | -39.2% |
| Jul 20, 2023 | $0.39 | $0.33 | -15.4% | $2.7B | -37.0% |
NEM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | Toth Peterofficer: EVP, Chief Sustain & Dev Off | Sell | 3,000 | $92.38 |
| May 15, 2026 | Medori Renedirector | Grant | 1,645 | — |
| May 15, 2026 | FitzGerald Emmadirector | Grant | 1,645 | — |
| May 15, 2026 | CLARK MAURA Jdirector | Grant | 1,645 | — |
| May 15, 2026 | Leyva Deborahofficer: Interim Chief People Officer | Grant | 1,938 | — |
| May 15, 2026 | BOYCE GREGORY Hdirector | Grant | 1,719 | — |
| May 15, 2026 | Layman Sally-Annedirector | Grant | 1,645 | — |
| May 15, 2026 | Seaton David Thomasdirector | Grant | 1,645 | — |
| May 15, 2026 | Madero Garza Jose Manueldirector | Grant | 1,645 | — |
| May 15, 2026 | Quintana Julio Mdirector | Grant | 1,645 | — |
| May 15, 2026 | Nelson Janedirector | Grant | 1,645 | — |
| May 15, 2026 | Conger Harry M. IVdirector | Grant | 1,645 | — |
| May 15, 2026 | Brook Bruce Rdirector | Grant | 1,645 | — |
| May 4, 2026 | Wexler Peterofficer: EVP, CLO & Interim CFO | Tax | 5,742 | $107.61 |
| May 4, 2026 | Wexler Peterofficer: EVP, CLO & Interim CFO | Sell | 13,378 | $110.11 |
Source: NEM SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full NEM insider & 13F page →NEM research & analysis
NEM Stock: Gold 6-Month Low and Newmont Mining Reset
Newmont operating leverage 2-3x gold spot. 8-12% spot decline produces 22-28% equity drop. Q1 net cash $3.3B supports cycle.
GOLDAEMCPI Hits 3.3% and Stagflation Fears Return — XOM, CVX, and NEM Top the Defense List
With March CPI surprising at 3.3%, stagflation fears are resurfacing. We analyze six defensive companies across energy, gold, utilities, and consumer staples, finding that Exxon Mobil, Chevron, and Newmont offer the best combination of direct inflation exposure, reasonable valuation, and strong dividends for a stagflationary environment.
XOMCVXNEEStagflation Trade: XOM and NEM Ranked Ahead of GS and NFLX Earnings
Ahead of March PPI and GS/NFLX earnings, stagflation favors XOM, NEM, and COST over vulnerable banks and streamers. Energy and gold lead with strong FCF and margins, while GS faces growth headwinds. Ranked picks emphasize cheap inflation hedges.
TIPGLDXLPStagflation Trades Ranked: NEM, XOM, and COST Lead the April 2026 Inflation Hedges
As April 2026 data confirms building US inflation pressures, stagflation favors NEM, XOM, and COST most strongly among hedges like TIP, GLD, and XLU. Gold miner NEM leads with explosive growth, followed by energy titan XOM's value and Costco's resilience. Ranked plays offer clear portfolio tilts.
TIPGLDCOSTSudan-UAE Rift Squeezes Gold Supply — GLD Up 21%, NEM and GOLD in Focus
Sudan-UAE rift slashes gold exports, risking global supply tightness and lifting U.S. assets: GLD up 21% in 6 months, NEM's Africa ops poised for price tailwinds, GOLD's dealer model thrives on volatility. Bullish on scarcity premium.
GLDGOLDStagflation Trade 2026: 6 Stocks Built to Win — XOM, NEM, COST Lead
Stagflation trades are gaining traction as inflation sticks and growth slows; energy giants XOM and CVX top the list for cash flow, followed by gold miner NEM, staples PG/COST, and utility NEE. Ranked conviction favors commodity producers with strong balance sheets.
XOMCVXCOST
Newmont Corporation company profile
Overview
Newmont Corporation (NYSE:NEM) is one of the world's largest gold mining companies, founded in 1916 and headquartered in Denver, Colorado. The company has grown through strategic acquisitions and organic development to become a leading precious metals producer with operations spanning multiple continents. In November 2023, Newmont completed its transformative acquisition of Newcrest Mining, significantly expanding its global footprint and establishing itself as the world's largest gold producer. Today, the company operates eleven managed gold and copper mines across the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana, with proven and probable gold reserves of 134 million ounces as of 2024.
Business
Newmont Corporation operates in the precious metals mining industry, primarily focused on gold production with significant copper, silver, zinc, and lead as byproducts. The company's core business involves the exploration, development, extraction, processing, and sale of gold and other precious metals from both open-pit and underground mining operations. The gold mining industry is capital-intensive and requires extensive geological expertise, environmental permitting, and sophisticated processing technology. Gold mining typically involves several stages: exploration to identify ore deposits, development to build mining infrastructure, extraction using either open-pit or underground methods, processing ore through crushing and chemical treatment to separate gold from rock, and finally refining to produce sellable gold bars or concentrate. Newmont's business consists of two main segments: 1. Gold Operations (approximately 85% of revenue): The company's primary focus, producing approximately 6.8 million ounces of gold annually from eleven managed operations. Key assets include Tier 1 operations like Cadia in Australia, Lihir in Papua New Guinea, Boddington in Australia, Tanami in Australia, Ahafo in Ghana, and Peñasquito in Mexico. These operations are characterized by large-scale, long-life mines with low production costs and significant reserves. 2. Copper and Other Metals (approximately 15% of revenue): Newmont produces over 150,000 tons of copper annually, primarily as a byproduct from its gold operations, particularly at Cadia, Boddington, and Peñasquito. The company also produces silver, zinc, lead, and molybdenum, which provide additional revenue streams and help reduce the all-in sustaining costs of gold production. The company's operations span the complete mining value chain, from early-stage exploration through mine closure and reclamation, with a focus on maintaining long-life, low-cost assets that can generate consistent cash flows across commodity price cycles.
Revenue model
Newmont generates revenue primarily through direct commodity sales to precious metals dealers, industrial users, and commodity trading companies. The company sells its gold production at prevailing market prices, which are determined by global supply and demand dynamics and traded on international exchanges like the London Bullion Market. The company's customers include precious metals dealers, jewelry manufacturers, electronics companies, central banks, and investment funds. Gold sales typically occur through long-term contracts or spot market transactions, with pricing based on London Bullion Market Association (LBMA) gold prices. Copper and other byproduct metals are sold to industrial customers and commodity traders at market prices. Several factors significantly impact Newmont's profitability margins: Positive margin drivers include higher gold and copper prices driven by inflation hedging demand, geopolitical uncertainty, currency devaluation, and industrial demand growth. Operational efficiency improvements, successful exploration adding low-cost reserves, favorable foreign exchange rates (particularly weaker local currencies in operating countries), and economies of scale from the Newcrest acquisition also enhance margins. Negative margin pressures stem from input cost inflation affecting labor, energy, consumables, and equipment. Regulatory changes including higher royalty rates, environmental compliance costs, and permitting delays can increase expenses. Operational challenges such as declining ore grades, technical difficulties, and safety incidents impact productivity. Additionally, stronger local currencies in operating jurisdictions and higher sustaining capital requirements for aging assets can compress margins. The company's all-in sustaining costs (AISC) averaged $1,651 per ounce in Q1 2025, representing the comprehensive cost to produce and sustain gold production. This metric includes direct production costs, sustaining capital expenditures, general and administrative expenses, and reclamation costs, providing a complete picture of the economic viability of operations at different gold price levels.
Competitive moat
Newmont possesses a moderate to strong competitive moat built on several key advantages, though the mining industry's inherent cyclicality and capital intensity limit the durability of these advantages. The company's primary moat stems from its irreplaceable asset base of large-scale, long-life, low-cost gold deposits. These Tier 1 assets, particularly Cadia, Lihir, Boddington, and Tanami, represent decades of production with established infrastructure and optimized operations that would be extremely difficult and expensive for competitors to replicate. The geological advantages of these deposits, including high-grade ore bodies and favorable metallurgy, provide sustainable cost advantages. Operational scale and expertise create additional competitive advantages. Newmont's size enables superior access to capital markets, better supplier relationships, and the ability to attract top mining talent. The company's technical expertise in complex mining operations, particularly in challenging environments like deep underground mines and remote locations, represents accumulated knowledge that competitors cannot easily duplicate. The geographic diversification across politically stable jurisdictions reduces country-specific risks that affect smaller, more concentrated miners. This diversification also provides operational flexibility and reduces exposure to localized disruptions. However, Newmont's moat faces several challenges. The mining industry is inherently commodity price-dependent, with margins fluctuating based on factors beyond the company's control. Resource depletion is an ongoing concern, requiring continuous exploration and development investment to maintain production levels. Regulatory and environmental pressures are increasing globally, potentially raising operating costs and limiting expansion opportunities. Competitive threats come from other major gold producers like Barrick Gold, Agnico Eagle, and emerging low-cost producers in Africa and Asia. Additionally, technological disruption in mining methods or gold processing could erode current operational advantages. The industry's consolidation trend also means competitors are achieving similar scale benefits through mergers and acquisitions.
Risks & safety
Newmont demonstrates a strong financial position with substantial margin of safety, though commodity price volatility creates inherent risks. • Liquidity and Solvency: Cash and short-term investments of $4.7 billion as of Q1 2025, providing significant financial flexibility. Current ratio of 1.98 indicates strong short-term liquidity. Total debt of approximately $8 billion against $31.4 billion in shareholders' equity results in a conservative debt-to-equity ratio of 0.26. • Cash Generation: Strong free cash flow generation of $1.2 billion in Q1 2025 alone, with $2.9 billion generated in full-year 2024. Operating cash flow of $2.0 billion in Q1 2025 demonstrates consistent cash-generating ability even during operational transitions. • Valuation Metrics: Trading at P/E ratio of 7.2 and EV/EBITDA of 4.5, suggesting reasonable valuation relative to earnings and cash flow generation. Price-to-book ratio of 1.74 appears reasonable given asset quality and reserve base. • Other Considerations: Investment-grade credit rating provides access to capital markets. Substantial proven and probable gold reserves of 134 million ounces provide long-term production visibility. Diversified geographic footprint reduces single-country risk exposure.
Recent development
Over the past two years, Newmont has undergone significant strategic transformation centered around the $15 billion Newcrest acquisition completed in November 2023, which doubled the company's size and established it as the world's largest gold producer. The company has pursued aggressive portfolio optimization, divesting six non-core assets including Akyem, Telfer, and various North American operations to focus on eleven managed Tier 1 operations. These divestments are expected to generate up to $4.3 billion in pretax proceeds while removing approximately $1.8 billion in closure liabilities, significantly improving the portfolio's risk-return profile. Operational integration and synergy realization has been a key focus, with management achieving a $500 million annual synergy run rate from the Newcrest acquisition. The company has implemented comprehensive safety programs including the "Always Safe" initiative and "Respect@Work" program across all operations, responding to safety incidents and cultural integration challenges. Major project developments include the advancement of Ahafo North in Ghana, expected to achieve first gold pour in the second half of 2025, and the Tanami expansion project progressing toward shaft commissioning in 2027. At Cadia, the company is transitioning to new panel caves while investing in tailings facility improvements. Red Chris in Canada has been identified as the most likely next major development project, with feasibility studies ongoing. The company has maintained disciplined capital allocation, returning $2.3 billion to shareholders through dividends and share repurchases in 2024 while reducing debt by $1.5 billion over the past 12 months. Management has established a framework targeting $3 billion in cash balances, debt below $8 billion, and consistent dividend payments of $0.25 per share quarterly. Cost management initiatives focus on achieving $1,620 per ounce all-in sustaining costs in 2025, with ongoing productivity improvements and G&A cost reduction programs. The company expects to stabilize production around 6 million ounces of gold and 150,000 tons of copper annually from its optimized portfolio.
NEM company profile · for informational purposes only — not investment advice.
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