Newmont Corporation (NYSE:NEM) is included among the 11 Best Mining Stocks to Buy According to Wall Street. Bank of America Slightly Lowers its Price Target on Newmont Corporation (NEM) to $134 While Maintaining a Buy Rating On February 9, 2026, Bank of America slightly lowered its price target on Newmont Corporation (NYSE:NEM) to $134 from $135 while maintaining a Buy rating. The firm said that the adjustment followed the updates to its model reflecting Newmont Corporation’s newly issued three-year guid ...

Core Viewpoint - Newmont Corporation is a leading gold mining company with a new price target set by Stifel Nicolaus at $175, indicating a potential increase of approximately 45.36% from its current trading price of $120.39 [1][2][6] Group 1: Stock Performance - Newmont's stock has crossed above its 20-day moving average, indicating a short-term bullish trend and gaining momentum with a 6.9% increase over the past four weeks [2][6] - The current stock price is $120.51, reflecting a slight decrease of $0.22 or approximately -0.18% from the previous trading session, with a trading range between $119.62 and $121.23 today [4] - Over the past year, Newmont's stock has experienced significant volatility, with a high of $134.88 and a low of $41.23 [4] Group 2: Market Position and Investor Sentiment - Newmont's market capitalization is approximately $131.5 billion, highlighting its status as a major player in the mining sector [5] - The stock is currently rated as a Zacks Rank 3 (Hold), suggesting a neutral stance and advising investors to remain cautious despite positive technical indicators [3][6] - Today's trading volume for Newmont is 3,066,946 shares, indicating active investor interest [5]

Summary of Australian Lithium & Gold Coverage Industry Overview - The report focuses on the Australian lithium and gold sectors, providing coverage summaries, forecasts, and spot pricing scenarios as of February 6, 2026 Key Companies and Ratings - **Buy Recommendations**: NST, NEM, CMM, BGL, RMS, WGX, PNR, WA1 [4] - **Sell Recommendations**: PLS, LTR, MIN, EVN [4] Company-Specific Insights - **IGO**: Neutral rating, Nickel/Lithium, Market cap: US$4.3 billion, Current price: A$8.21, Downside: 15%, NAV: A$5.28, NTM EV/EBITDA: 12.4x [4] - **PLS**: Sell rating, Spodumene Lithium/Specialties, Market cap: US$9.2 billion, Current price: A$4.10, Downside: 27%, NAV: A$2.68, NTM EV/EBITDA: 14.4x [4] - **LTR**: Sell rating, Spodumene, Market cap: US$3.6 billion, Current price: A$1.64, Downside: 11%, NAV: A$1.07, NTM EV/EBITDA: 19.8x [4] - **MIN**: Sell rating, Fe/Li/Crushing, Market cap: US$7.2 billion, Current price: A$52.43, Downside: 14%, NAV: A$37.40, NTM EV/EBITDA: 6.9x [4] - **NST**: Buy rating, Gold, Market cap: US$26.4 billion, Current price: A$26.57, Upside: 19%, NAV: A$30.14, NTM EV/EBITDA: 7.1x [4] - **EVN**: Sell rating, Gold/Copper, Market cap: US$20.0 billion, Current price: A$14.18, Downside: 10%, NAV: A$12.28, NTM EV/EBITDA: 7.5x [4] - **NEM**: Buy rating, Gold, Market cap: US$118.4 billion, Current price: A$154.72, Upside: 20%, NAV: A$172.72, NTM EV/EBITDA: 6.0x [4] - **CMM**: Buy rating, Gold, Market cap: US$4.2 billion, Current price: A$13.11, Upside: 34%, NAV: A$16.50, NTM EV/EBITDA: 9.7x [4] - **BGL**: Buy rating, Gold, Market cap: US$1.8 billion, Current price: A$1.65, Upside: 21%, NAV: A$1.98, NTM EV/EBITDA: 4.9x [4] - **RMS**: Buy rating, Gold, Market cap: US$5.9 billion, Current price: A$4.29, Upside: 25%, NAV: A$5.19, NTM EV/EBITDA: 9.8x [4] - **WGX**: Buy rating, Gold, Market cap: US$4.5 billion, Current price: A$6.76, Upside: 37%, NAV: A$8.85, NTM EV/EBITDA: 4.4x [4] - **PNR**: Buy rating, Gold, Market cap: US$1.3 billion, Current price: A$4.51, Upside: 67%, NAV: A$6.60, NTM EV/EBITDA: 3.1x [4] - **WA1**: Buy rating, Niobium, Market cap: US$0.8 billion, Current price: A$15.53, Upside: 69%, NAV: A$30.04 [4] Valuation Metrics - **NAV Valuation**: Companies have varying NAVs, with NST having the highest at A$30.14 and PLS the lowest at A$2.68 [4] - **NTM EV/EBITDA Multiples**: Ranges from 3.1x (PNR) to 19.8x (LTR), indicating differing market expectations and valuations across companies [4] Commodity Price Forecasts - **Lithium Carbonate (China)**: Estimated at US$18,366 per ton, down 24% from spot [8] - **Lithium Hydroxide (China)**: Estimated at US$17,856 per ton, down 24% from spot [8] - **Spodumene 6%**: Estimated at US$2,015 per ton, down 45% from spot [8] - **Gold**: Estimated at US$4,778 per ounce, down 20% from spot [8] - **Copper**: Estimated at US$5.88 per pound, down 11% from spot [8] Additional Insights - The report highlights potential conflicts of interest due to Goldman Sachs' business relationships with covered companies [2] - Analysts emphasize the importance of considering this report as one of several factors in investment decisions [2] - The report includes a detailed analysis of market cap, price targets, and upside/downside potential for each company [4] This summary encapsulates the key points from the Australian Lithium & Gold Coverage report, providing insights into company ratings, valuations, and commodity forecasts.

Earnings Overview - More than half of the S&P 500 companies have reported Q4 earnings, with 79% of the 293 companies beating expectations [1] - S&P earnings growth is projected to increase by +8.4% in Q4, marking the tenth consecutive quarter of year-over-year growth [1] - Excluding the Magnificent Seven technology stocks, Q4 earnings are expected to rise by +4.6% [1] Economic Indicators - The Q4 employment cost index is expected to rise by 0.8% [2] - December retail sales are anticipated to increase by +0.4% month-over-month [2] - January nonfarm payrolls are expected to rise by +69,000, with the unemployment rate remaining at 4.4% [2] - January average hourly earnings are projected to increase by +0.3% month-over-month and +3.7% year-over-year [2] - Initial weekly unemployment claims are expected to decrease by -7,000 to 224,000 [2] - January CPI is expected to rise by +2.5% year-over-year [2] Market Movements - The S&P 500 Index is up +0.46%, the Dow Jones is up +0.09%, and the Nasdaq 100 is up +0.61% [6] - Overseas markets are also showing positive movements, with the Euro Stoxx 50 up +0.66% and Japan's Nikkei Stock 225 up +3.89% [7] Sector Performance - Chip makers and AI-infrastructure stocks have rebounded, with Nvidia up more than +3% and AMD, Broadcom, and Western Digital up more than +2% [12] - Mining stocks are performing well, with gold prices up more than +1% and silver prices up more than +6% [13] - AppLovin is up more than +13% after positive client performance news [13] - Oracle is up more than +9% following an upgrade to buy from neutral [14] Company-Specific News - Dynatrace reported Q3 revenue of $515.5 million, exceeding consensus estimates, and raised its full-year revenue forecast [15] - Kyndryl Holdings is down more than -54% after reporting lower-than-expected Q3 revenue and cutting its profit estimate [16] - Hims & Hers Health is down more than -23% after halting sales of a new product [17] - Monday.com is down more than -21% after forecasting lower Q4 revenue [17]

Price Target Adjustments - CIBC raised its price target on Newmont Corporation (NYSE:NEM) to $177 from $112 and reiterated an Outperformer rating, following an increase in gold price forecasts to $6,000 per ounce in 2026 and $6,500 in 2027 [1] - UBS also raised its price target on Newmont Corporation to $160 from $125 while maintaining a Buy rating [2] - Scotiabank lifted its price target to $152 from $114, citing updates across its Gold and Precious Minerals coverage after raising both gold and silver forecasts [3] Market Context - The demand drivers for precious metals observed in 2025 are expected to persist into 2026, supporting the price target increases [1] - Scotiabank highlighted ongoing economic uncertainty, geopolitical risks, and continued central bank buying as key factors for higher long-term metal prices [3] Company Overview - Newmont Corporation is one of the world's largest gold producers, with operations in North America, Latin America, Australia, Africa, and parts of Asia-Pacific, and has exposure to multiple metals including copper, silver, zinc, and lead [4]

Group 1 - Newmont Corporation (NYSE:NEM) is a mining company focused on gold production and exploration, as well as seeking other metals like copper, silver, zinc, and lead [2] - In 2025, Newmont's stock gained 168%, reflecting a significant surge in gold prices [2] - Jim Cramer expressed a preference for Agnico Eagle Mines over Newmont but acknowledged that investing in gold mining stocks is generally favorable given the strong performance of gold [2] Group 2 - There is a belief that certain AI stocks may offer greater upside potential and carry less downside risk compared to Newmont [3] - The article suggests that there are undervalued AI stocks that could benefit from current economic trends, indicating a shift in investment focus [3]

Core Viewpoint - Newmont Corporation's stock has experienced a significant decline, dropping 16.5% from its all-time high, primarily due to falling gold and silver prices [1][2][3]. Group 1: Stock Performance - Newmont's shares are down 5.5% as of Thursday morning, marking a continued downward trend [1]. - The stock has fallen 16.5% since reaching approximately $132 per share on January 28 [1]. Group 2: Commodity Prices - Gold prices peaked at $5,419.80 per ounce on January 28 but have since plummeted to below $4,660, currently standing at $4,816.10 [2]. - Silver prices also peaked on January 28 at $116.58 per ounce, dropping to $79.21 by Monday and further declining to $74.89 [3]. Group 3: Analyst Insights - Newmont's stock is currently priced at 18 times trailing earnings and 16 times projected earnings for the year, with expected earnings growth of 38% next year, resulting in a PEG ratio of 0.5 [4]. - Despite the current challenges, some analysts view Newmont stock as a potential buy [5].

Core Insights - Newmont Corporation (NEM) is enhancing shareholder value through significant dividends and share repurchases, distributing over $5.7 billion in the past two years [1][7] Financial Performance - Newmont generated a record free cash flow of $1.6 billion in Q3, with net cash from operating activities increasing by 40% year-over-year to $2.3 billion [2][7] - The company reduced its debt by approximately $2 billion in Q3, achieving a near-zero net debt position by the end of the quarter [3][7] Capital Allocation - Newmont has doubled its share repurchase authorization to $6 billion, executing $3.3 billion of this buyback as of October 23, 2025 [2] - The company is following a disciplined capital allocation policy, using its cash generation to return capital to shareholders, fund growth projects, and pay down debt [3] Market Position - Newmont's shares have increased by 79.2% over the past six months, outperforming the Zacks Mining – Gold industry, which rose by 64.8% [6] - The company is currently trading at a forward 12-month earnings multiple of 15.23, which is a 15% premium to the industry average of 13.24 [9] Earnings Outlook - The Zacks Consensus Estimate for NEM's earnings implies a year-over-year increase of 81.9% for 2025 and 21.1% for 2026, with EPS estimates trending higher over the past 60 days [10]

Core Viewpoint - The recent sell-off in gold and gold stocks presents a potential buying opportunity for investors, despite the volatility in gold prices and the impact of new Federal Reserve chair Kevin Warch's nomination on market sentiment [1][2]. Company Performance - Gold stocks, particularly Newmont and Barrick, experienced significant declines, with both companies' shares falling by double-digit percentages [2]. - Newmont's all-in sustaining costs (AISC) per ounce were $1,566 in Q3 2025, projected to rise to $1,760 in Q4, while Barrick's AISC was $1,538 in Q3, with Q4 guidance between $1,460 and $1,560 [3]. - As of February 3, 2026, spot gold prices were around $4,622 per ounce, allowing both companies to achieve gross profit margins exceeding 160%, a stark contrast to historical margins that rarely topped 50% [4]. Growth Drivers - The ongoing global demand for gold, driven by central banks increasing their gold reserves due to concerns about the U.S. dollar's stability, remains a key growth driver for Newmont and Barrick [8]. - Copper demand, particularly due to the expansion of AI infrastructure, is another significant growth driver. Data centers may require between 330,000 and 420,000 tonnes of copper annually by 2030 [9]. - Newmont produced 35,000 tonnes of copper in Q3, while Barrick produced 55,000 tonnes, benefiting from increased production at Lumwana mines in Zambia [10]. Market Sentiment - Some investors believe the sell-off in Newmont and Barrick was overdone, as both stocks are already showing signs of recovery [12]. - Despite potential volatility in gold prices, the fundamental demand for gold and copper is expected to persist, supporting continued profitability for both companies [13]. - Newmont's forward price-to-earnings ratio is 15.7, while Barrick's is approximately 12.5, indicating that neither stock is excessively priced despite recent market fluctuations [14].

Group 1 - Investors are taking a bullish stance on Newmont (NYSE:NEM), with significant options trades indicating potential insider knowledge of upcoming events [1] - The sentiment among big-money traders is mixed, with 48% bullish and 40% bearish positions observed in the options market [2] - The price target for Newmont is projected between $47.5 and $150.0 based on the analysis of volume and open interest in options contracts [3] Group 2 - Recent options activity shows a total of 50 uncommon trades for Newmont, with 14 puts amounting to $1,829,853 and 36 calls totaling $2,991,630 [2] - Current trading volume for Newmont is 5,931,900, with the stock price at $119.12, reflecting a 2.44% increase [7] - An industry analyst from Scotiabank maintains a Sector Outperform rating for Newmont, with a target price of $152.0 [6]