Denver, Colorado-based Newmont Corporation (NEM) is a gold mining company with a market cap of $108.1 billion. While gold remains its primary revenue driver, NEM also produces significant quantities of copper, silver, zinc, and lead. It is expected to announce its fiscal Q1 earnings for 2026 in the near future.
Before this event, analysts expect this gold producer to report a profit of $2.07 per share, up 65.6% from $1.25 per share in the year-ago quarter. The company has topped Wall Street’s bottom-line estimates in each of the last four quarters. Its earnings of $2.52 per share in the previous quarter outpaced the forecasted figure by a notable margin of 24.1%.
For the current fiscal year, ending in December, analysts expect NEM to report a profit of $8.79 per share, up 27.6% from $6.89 per share in fiscal 2025. Furthermore, its EPS is expected to grow 17.6% year-over-year to $10.34 in fiscal 2027.
Shares of NEM have soared 105.6% over the past 52 weeks, notably outperforming both the S&P 500 Index's ($SPX) 13.4% return and the State Street Materials Select Sector SPDR ETF’s (XLB) 13.3% rise over the same time period.
On Mar. 3, global equity markets declined as crude oil prices climbed and bond yields surged, driven by escalating tensions in the Iran conflict, which had entered its fourth consecutive day with no signs of easing. Concerns over potential long-term disruptions in energy supplies heightened fears of rising inflation. Meanwhile, mining stocks, including NEM, saw sharp declines as precious metal prices weakened, with gold dropping over 4% and silver falling more than 7%, weighing heavily on gold and silver producers.
Wall Street analysts are highly optimistic about NEM’s stock, with an overall "Strong Buy" rating. Among 23 analysts covering the stock, 19 recommend "Strong Buy," two suggest "Moderate Buy,” and two indicate “Hold." The mean price target for NEM is $138.81, indicating a 39.2% potential upside from the current levels.
On the date of publication, Neharika Jain did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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