Newmont Corporation (NEM) Stock Price & How to Invest

Newmont (NEM) is the world's largest gold producer and a leading name in precious-metals mining. It explores for, mines, and sells gold, with meaningful byproduct production of copper, silver, zinc, and lead from a global portfolio of tier-one operations across North America, South America, Australia, Africa, and Papua New Guinea. Gold is the company's core driver, and its revenue and profits move closely with the gold price, which it does not control and which tends to rise with inflation fears, falling real interest rates, and market or geopolitical stress. Newmont expanded its scale and reserves through the 2023 acquisition of Newcrest Mining and has since worked to streamline the combined portfolio around its highest-quality, longest-life assets while returning cash through dividends and buybacks. As a commodity producer, Newmont's earnings swing with gold and byproduct prices as well as mining costs. Headquartered in Denver, Colorado, it is widely viewed as a large-cap, liquid way to gain equity exposure to gold, often held as a diversifier or an inflation and safe-haven hedge rather than as a steady compounder.

Newmont is a commodity producer, so its revenue and profits swing with the gold price and byproduct metal prices it does not control, and those prices can fall sharply. Mining is capital intensive and carries operational, geological, environmental, permitting, and safety risks, and unexpected mine problems can cut production. Its global footprint exposes it to country-specific political, regulatory, tax, currency, and labor risks. All-in sustaining costs have risen with energy, labor, and input inflation, squeezing margins if gold does not keep pace. Large acquisitions like Newcrest carry integration and execution risk. The stock is volatile and tied to gold sentiment, real interest rates, and the US dollar. It is a cyclical position, not a steady income or defensive holding.

21 analysts publish price targets on NEM, averaging $129.27 against a $93.71 price as of August 2026, or +37.9%. The published targets run from $67.00 to $168.00, a wide spread, and the ratings split 20 buy, 2 hold, 1 sell. Over the last six months there has been 1 raise and 10 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full NEM forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Newmont Corporation. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Leveraged exposure to gold. Gold is a long-standing store of value and safe-haven asset that investors turn to during inflation, falling real rates, and market or geopolitical stress. The most optimistic published target, $168.00, assumes this works close to its best case.

The case against. Newmont is a commodity producer, so its revenue and profits swing with the gold price and byproduct metal prices it does not control, and those prices can fall sharply. The most pessimistic target, $67.00, is roughly what NEM is worth if this bites instead.

Read the full bull and bear case on NEM, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Newmont Corporation's investor relations page or your broker.

• Revenue (TTM): ~$20 billion (varies with gold prices)
• Primary product: gold, with byproduct copper, silver, zinc, and lead
• Gold production (2025): ~5.9 million attributable ounces
• Gold AISC (2025): ~$1,358 per ounce by-product basis; guided higher for 2026
• Net income: highly cyclical with gold and byproduct prices
• P/E (TTM): variable; cyclical and gold-price-dependent
• Dividend: base dividend of ~$0.26 per share per quarter as of late 2025 (~1% yield range)
• Headquarters: Denver, Colorado; primary listing NYSE

Newmont's valuation is inherently cyclical because earnings move with the gold price and mining costs the company does not fully control. A normal P/E can look low near the top of the gold cycle and high or not meaningful at the bottom, so the stock often trades on the gold-price outlook, real interest rates, and cost trends rather than trailing earnings. Rising all-in sustaining costs can compress margins even when gold is firm. Figures are approximate and move with commodity prices; verify current numbers before relying on them.

If you want NEM exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

These are the investment theses NEM naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to NEM: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get NEM exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (GDX, XME, GNR), which spreads the position across many companies. Or build it into a focused thematic portfolio, so NEM sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where NEM fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Newmont (NEM) is the world's largest gold producer, with a global portfolio of long-life mines and byproduct copper, silver, zinc, and lead. Gold's role as an inflation and safe-haven asset gives it a durable demand story, but Newmont's profits swing with the gold price and mining costs it cannot fully control. In a portfolio it behaves as a cyclical, gold-leveraged position and a potential diversifier, not a defensive income holding.

Whether NEM is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is NEM a buy or a sell?, and where the stock could go from here in the NEM stock forecast.

For income investors, whether NEM pays a dividend and how the payout looks is covered in does NEM pay a dividend? And to weigh NEM against a peer, read the full side-by-side comparisons: NEM vs PLD and NEM vs AMT.