Gold's record rally has fueled momentum for B and NEM as both mining giants expand projects and strengthen balance sheets.
Recently, Zacks.com users have been paying close attention to Newmont (NEM). This makes it worthwhile to examine what the stock has in store.
Newmont stock is up 26% in three months as gold hits record highs and projects advance, but falling production tempers the case.
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NEM's Q3 capital spending fell 17%, helping free cash flow more than double to a record $1.6B, and 2025 capex cut could support cash flow.
Newmont Corporation (NEM) closed the most recent trading day at $114.63, moving +1.48% from the previous trading session.
Newmont stock is up 26% in three months as gold hits record highs and projects advance, but falling production tempers the case.
Newmont Corporation is my top gold pick for 2026, rated Strong Buy, driven by operational scale, efficiency, and catch-up rally potential. NEM trades at a 20-25% discount to peers, with a 2026 P/E of 14.1x and PEG of 0.30x, reflecting undervaluation versus robust growth. Gold's bullish outlook, supported by central banks demand and geopolitical uncertainty, underpins NEM's earnings growth and sector outperformance.
The latest trading day saw Newmont Corporation (NEM) settling at $103.53, representing a +2.28% change from its previous close.
Newmont Corporation (NEM) closed the most recent trading day at $101.22, moving +1.37% from the previous trading session.
Ahafo North is starting commercial production, adding around 5% low-cost gold volume versus Newmont's current run-rate and supporting margin expansion and free cash flow growth. Ongoing SG&A and project cost reductions from workforce restructuring and organizational simplification should further improve NEMt's margins and cash flow conversion. Majority control of Nevada Gold Mines could unlock additional operational cost efficiencies on an already key 19.4% gold production and sales contributor for NEM.
Newmont's shares surged 81.6% in six months as higher gold prices, strong cash flow and portfolio focus lifted earnings and investor confidence.