Valued at a market cap of $117.3 billion, Newmont Corporation (NEM) is a Denver, Colorado-based leading gold mining company and a significant producer of copper, silver, zinc, and lead.
This gold mining company has significantly outperformed the broader market over the past 52 weeks. Shares of NEM have rallied 103.2% over this time frame, while the broader S&P 500 Index ($SPX) has gained 28.3%. Moreover, on a YTD basis, the stock is up 7.8%, compared to SPX’s 4.2% rise.
Zooming in further, NEM has also notably outpaced the VanEck Gold Miners ETF (GDX), which rose 77.9% over the past 52 weeks and increased marginally on a YTD basis.
On Apr. 23, NEM delivered impressive Q1 2026 earnings results, prompting its shares to surge 8.7% in the following trading session. The company’s revenue increased 45.8% year-over-year to $7.3 billion, while its adjusted EPS more than doubled from the year-ago quarter, reaching $2.90. Additionally, NEM generated a record $3.1 billion in quarterly free cash flow, keeping it firmly on track to meet its fiscal 2026 guidance.
For the current fiscal year, ending in December, analysts expect NEM’s EPS to grow 36% year over year to $9.37. The company’s earnings surprise history is promising. It exceeded the consensus estimates in each of the last four quarters.
Among the 22 analysts covering the stock, the consensus rating is a “Strong Buy,” which is based on 16 “Strong Buy,” two "Moderate Buy,” and four “Hold” ratings.
The configuration is less bullish than a month ago, with 19 analysts suggesting a "Strong Buy” rating.
On Apr. 29, The Goldman Sachs Group, Inc. (GS) analyst Hugo Nicolaci maintained a “Buy” rating on NEM and set a price target of $125.10, indicating a 16.3% potential upside from the current price levels.
The mean price target of $143.25 implies a 33.1% premium to its current price, while the Street-high price target of $176 implies a 63.6% potential upside from current levels.
