Newmont Corporation (NEM) is the world's largest gold producer by output, listed on the NYSE. The central target here is not an official consensus but a simple average I calculated from 13 individually verifiable, current analyst price targets. Those targets range from a low of $119 to a high of $155, producing a mean of about $141.50, rounded to $140 for readability.
Analyst views remain broadly constructive but not unanimous. Several firms maintain Buy or Outperform ratings with targets in the mid-$140s to $155, including RBC Capital ($155), UBS ($155), CIBC ($154), Citigroup ($150), Scotiabank ($149), Jefferies ($146), BMO Capital ($145), and Bernstein ($144). More cautious or neutral voices sit lower: Goldman Sachs ($119), Barclays ($124), TD Cowen ($127), and National Bank Financial ($140, Sector Perform).
Ratings activity underscores the shift in sentiment. Bernstein upgraded NEM to Outperform in February 2026, Barclays initiated coverage at Overweight in May, and TD Cowen lifted its rating to Buy in July. By contrast, National Bank downgraded the shares to Sector Perform in April. The spread between the low and high targets reflects differing assumptions about gold prices, production growth, and cost management rather than any consensus on a single outcome.
At $118.60, NEM trades roughly 12% below its 52-week high of $135.29 but well above its 52-week low of $76.05. The move to $140 equals an 18% advance—a substantial, but not extreme, hurdle. Notably, the target sits just above the prior high, meaning the stock would need to break out to a new all-time-high territory to reach it.
Fundamentally, Newmont's earnings momentum has been strong. The company reported adjusted first-quarter 2026 EPS of $2.90, comfortably above the consensus estimate of $2.18, and followed with roughly $2.10 in the second quarter. Forward earnings estimates are also rising, and the forward P/E (price-to-earnings) ratio sits near 12, which some analysts view as undemanding for the sector leader. A path to $140 would most plausibly run through sustained gold prices, continued delivery on production guidance, and further earnings beats that keep analyst targets grinding higher.
The $135 area—the August 2026 peak—stands out as the key resistance zone; a decisive close above it would open the door toward $140. On the downside, the 50-day moving average near $122 and the 200-day moving average near $112 mark intermediate support levels, with the psychological $100 level below that. The stock's three-month gain of more than 30% reflects strong momentum, but it also leaves the shares extended above longer-term averages, which can increase the risk of pullbacks.
Analyst price targets generally reflect a roughly 12-month research horizon, though individual firms apply their own assumptions and timelines, so the target should not be read as a near-term forecast. Investors should watch the next earnings report, scheduled around late October 2026, along with gold prices, all-in sustaining cost trends, buyback execution, and any further analyst target revisions. Production guidance updates and commentary on the company's copper and by-product operations are also worth tracking.
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The $140 central target—an average of 13 verified analyst price targets rounded from about $141.50—implies roughly 18% upside from the current $118.60 price. Support comes from elevated gold prices, strong earnings delivery, rising analyst targets, and a substantial buyback program. The main obstacles are gold-price volatility, execution and cost pressures, a premium valuation, and a wide $119-to-$155 analyst range that signals real uncertainty. Reaching $140 would require the stock to clear its prior $135 high and hold above it. The outcome ultimately hinges on gold prices and Newmont's ability to keep beating expectations—factors best monitored through earnings, cost data, and ongoing analyst revisions rather than any single forecast.
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A.I.dvisor indicates that over the last year, NEM has been closely correlated with AEM. These tickers have moved in lockstep 89% of the time. This A.I.-generated data suggests there is a high statistical probability that if NEM jumps, then AEM could also see price increases.
| Ticker / NAME | Correlation To NEM | 1D Price Change % |
|---|---|---|
| NEM | 100% | -4.64% |
| NEM (43 stocks) | 93% Closely correlated | -5.94% |
| Precious Metals (55 stocks) | 93% Closely correlated | -5.58% |
| Non Energy Minerals (154 stocks) | 81% Closely correlated | -4.60% |