Analyst Consensus ?
ConsensusBuy37 ratings
Bullish2875.7%
Neutral924.3%
Bearish00.0%
Newmont Corporation · NEM · FY2025 Q2 · Calendar Q3 2025
Newmont pairs record cash flow with project and safety risks
The evidence is constructive but mixed: record free cash flow, strong production and maintained guidance support Newmont's operating trajectory, while safety issues, H2 production pressure and rising project spend temper the case.
Reported After market closeNYSEBasic Materials
$119.64B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.43
Consensus $0.91
EPS surprise
+58.0%
Reported versus consensus
Reported revenue
$5.28B
Consensus $4.70B
Revenue surprise
+12.3%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+6.9%
Event window
SPY move
+0.4%
Same window
Abnormal move
+6.5%
Stock minus SPY
Volume
2.6×
Versus trailing sessions
Subsequent drift
+7.6%
Up to 20 sessions
NEMSPY benchmark
Ask FN2 about NEM FY2025 Q2
Transcript, numbers and history already loaded
Why did NEM rise 6.9% after beating EPS estimates in FY2025 Q2?What changed in NEM's guidance and outlook in FY2025 Q2?Give me the bull and bear case for NEM after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior analysis, the company delivered another strong operating quarter, reported record free cash flow, expanded share-repurchase authorization, and faced a significant Red Chris safety incident. The outlook also now emphasizes H2 production declines from panel-cave transitions and higher project spending.
Guidance delta
Maintained; management reaffirmed 2025 guidance.
Key takeaways
- Q2 analysis highlights record free cash flow and strong gold and copper production.
- Management maintained guidance while expecting lower H2 production from panel-cave transitions.
- Capital allocation emphasizes debt reduction, dividends and share repurchases.
- The Red Chris safety incident remains a material operational and execution risk.
- The organic project pipeline supports growth, but requires continued spending and delivery.
Management priorities
- Complete the Red Chris rescue and investigate the incident.
- Advance Ahafo North toward first gold and commercial production.
- Continue Tanami upgrades and Cadia panel-cave development.
- Maintain share repurchases and debt reduction.
- Pursue organic growth including Wafi-Golpu.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$115.55Current
$57Low
$108.04Average
$175High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 9, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Sep 16, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Sep 9, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Aug 12, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 28, 2026 |
| TD Cowen | Buy | Hold | Upgrade | Jul 14, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 9, 2026 |
| Jefferies | Buy | Buy | Maintain | Jul 6, 2026 |
| UBS | Buy | Buy | Maintain | Jun 30, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Apr 24, 2026 |
| CIBC | Outperform | Outperform | Maintain | Apr 21, 2026 |
| Citigroup | Buy | Buy | Maintain | Mar 3, 2026 |
| Freedom Broker | Buy | Buy | Maintain | Sep 30, 2025 |
| Raymond James | Outperform | Outperform | Maintain | Sep 23, 2025 |
| Macquarie | Neutral | Outperform | Downgrade | Sep 2, 2025 |
| JP Morgan | Overweight | Neutral | Upgrade | Nov 19, 2024 |
| Argus Research | Buy | Hold | Upgrade | Aug 29, 2024 |
| TD Securities | Hold | Hold | Maintain | Apr 29, 2024 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 21, 2023 |
| Canaccord Genuity | Buy | Hold | Upgrade | Mar 14, 2023 |
| Exane BNP Paribas | Outperform | Neutral | Upgrade | Feb 13, 2023 |
| Credit Suisse | Neutral | Outperform | Downgrade | Apr 19, 2022 |
| Deutsche Bank | Buy | Buy | Maintain | Jun 17, 2020 |
| B. Riley Securities | Buy | Buy | Maintain | May 19, 2020 |
| B. Riley FBR | Buy | Buy | Maintain | May 19, 2020 |
| B. Riley | Buy | Neutral | Upgrade | Jan 13, 2020 |
| Citi | Buy | Neutral | Upgrade | May 23, 2019 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | Jun 12, 2018 |
| Argus | Hold | Buy | Downgrade | May 5, 2018 |
| Bank of America | Buy | Buy | Maintain | Feb 26, 2018 |
| Standpoint Research | Buy | Hold | Upgrade | Dec 29, 2016 |
| Mackie Research | Buy | Hold | Upgrade | Oct 31, 2016 |
| Clarksons Platou | Neutral | Buy | Downgrade | Apr 18, 2016 |
| Clarkson Capital Markets | Neutral | Buy | Downgrade | Apr 18, 2016 |
| FBR Capital | Market Perform | Market Perform | Maintain | Jan 28, 2016 |
| HSBC | Hold | Buy | Downgrade | Oct 26, 2015 |
| BB&T Capital | Hold | Buy | Downgrade | Nov 3, 2014 |
| Cowen & Co. | Outperform | Market Perform | Upgrade | Sep 9, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $115.55. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Bernstein | Analyst unavailable | $144 | $127.09 | +24.6% | Sep 9, 2026 |
| Raymond James | Brian MacArthur | $140 | $130.96 | +21.2% | Aug 24, 2026 |
| CIBC | Analyst unavailable | $170 | $117.85 | +47.1% | Aug 14, 2026 |
| Scotiabank | Analyst unavailable | $149 | $119.62 | +28.9% | Aug 12, 2026 |
| Argus Research | Alexandra Yates | $110 | $93.87 | -4.8% | Aug 3, 2026 |
| CIBC | Anita Soni | $168 | $91.64 | +45.4% | Jul 28, 2026 |
| Barclays | Richard Garchitorena | $124 | $93.47 | +7.3% | Jul 28, 2026 |
| Barclays | Analyst unavailable | $125 | $95.04 | +8.2% | Jul 15, 2026 |
| Scotiabank | Analyst unavailable | $147 | $94.88 | +27.2% | Jul 14, 2026 |
| RBC Capital | Josh Wolfson | $135 | $94.52 | +16.8% | Jul 9, 2026 |
| Jefferies | Analyst unavailable | $146 | $97.04 | +26.4% | Jul 6, 2026 |
| UBS | Analyst unavailable | $120 | $92.34 | +3.9% | Jun 30, 2026 |
| CIBC | Anita Soni | $175 | $107.23 | +51.4% | Jun 1, 2026 |
| Barclays | Analyst unavailable | $133 | $108.33 | +15.1% | May 21, 2026 |
| TD Securities | Steven Green | $129 | $120.7 | +11.6% | Apr 27, 2026 |
| BMO Capital | Matthew Murphy | $145 | $117.87 | +25.5% | Apr 24, 2026 |
| CIBC | Anita Soni | $176 | $110.51 | +52.3% | Apr 21, 2026 |
| National Bank | Shane Nagle | $130 | $113.41 | +12.5% | Apr 16, 2026 |
| UBS | Analyst unavailable | $140 | $102.1 | +21.2% | Mar 27, 2026 |
| BMO Capital | Matthew Murphy | $140 | $121.02 | +21.2% | Feb 20, 2026 |
| Stifel Nicolaus | Analyst unavailable | $175 | $120.39 | +51.4% | Feb 10, 2026 |
| CIBC | Analyst unavailable | $177 | $114.36 | +53.2% | Feb 4, 2026 |
| UBS | Analyst unavailable | $160 | $117.25 | +38.5% | Jan 30, 2026 |
| Scotiabank | Analyst unavailable | $152 | $128.69 | +31.5% | Jan 26, 2026 |
| Raymond James | Analyst unavailable | $111 | $100.47 | -3.9% | Dec 29, 2025 |
| Jefferies | Fahad Tariq | $120 | $89.76 | +3.9% | Dec 7, 2025 |
| BNP Paribas | Analyst unavailable | $97 | $90.72 | -16.1% | Dec 5, 2025 |
| UBS | Daniel Major | $125 | $91.82 | +8.2% | Dec 1, 2025 |
| Raymond James | Brian MacArthur | $99 | $83.31 | -14.3% | Oct 24, 2025 |
| Scotiabank | Analyst unavailable | $114 | $87.01 | -1.3% | Oct 23, 2025 |
| UBS | Analyst unavailable | $105.5 | $93.58 | -8.7% | Oct 16, 2025 |
| Goldman Sachs | Analyst unavailable | $104.3 | $85.14 | -9.7% | Oct 12, 2025 |
| Raymond James | Brian MacArthur | $96 | $85.21 | -16.9% | Oct 10, 2025 |
| CIBC | Analyst unavailable | $112 | $85.21 | -3.1% | Oct 10, 2025 |
| RBC Capital | Josh Wolfson | $95 | $75.92 | -17.8% | Sep 9, 2025 |
| Macquarie | Andrew Bowler | $72 | $74.4 | -37.7% | Sep 1, 2025 |
| CIBC | Anita Soni | $74 | $57.35 | -36.0% | Jul 15, 2025 |
| Argus Research | John Eade | $63 | $53.68 | -45.5% | Apr 25, 2025 |
| Raymond James | Analyst unavailable | $66 | $53.94 | -42.9% | Apr 25, 2025 |
| UBS | Daniel Major | $54 | $47.8 | -53.3% | Oct 30, 2024 |
| RBC Capital | Josh Wolfson | $53 | $57.74 | -54.1% | Oct 24, 2024 |
| Jefferies | Matthew Murphy | $63 | $53.04 | -45.5% | Oct 4, 2024 |
| Jefferies | Matthew Murphy | $54 | $51.3 | -53.3% | Sep 10, 2024 |
| Argus Research | John Eade | $58 | $51.83 | -49.8% | Aug 29, 2024 |
| Scotiabank | Tanya Jakusconek | $59 | $51.19 | -48.9% | Aug 19, 2024 |
| BMO Capital | Jackie Przybylowski | $57 | $47.7 | -50.7% | Jul 25, 2024 |
| CIBC | Anita Soni | $61 | $45.36 | -47.2% | Jul 10, 2024 |
| UBS | Daniel Major | $50 | $40.97 | -56.7% | Jun 17, 2024 |
| Scotiabank | Tanya Jakusconek | $48 | $41.28 | -58.5% | May 23, 2024 |
| Goldman Sachs | Emily Chieng | $67 | $41.02 | -42.0% | Dec 15, 2023 |
| RBC Capital | Josh Wolfson | $60 | $45.61 | -48.1% | Jul 27, 2022 |
| Canaccord Genuity | Carey MacRury | $60 | $46.14 | -48.1% | Jul 26, 2022 |
| Canaccord Genuity | Analyst unavailable | $80 | $73.43 | -30.8% | Apr 26, 2022 |
| Fundamental Research | Siddharth Rajeev | $63.1 | $55.25 | -45.4% | Nov 8, 2021 |
| CIBC | Anita Soni | $69 | $53.09 | -40.3% | Oct 29, 2021 |
| TD Securities | Greg Barnes | $70 | $58.82 | -39.4% | Jul 26, 2021 |
| Desjardins | John Sclodnick | $85.94 | $71.39 | -25.6% | May 20, 2021 |
| Argus Research | David Coleman | $73 | $62.68 | -36.8% | May 5, 2021 |
| BMO Capital | Andrew Kaip | $85 | $60.33 | -26.4% | Apr 30, 2021 |
Track every rating change on NEM the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationNewmont Corporation is primarily involved in the mining and exploration of gold resources. Additionally, the company undertakes prospecting for other base and precious metals, including copper, silver, zinc, and lead. Its operations and assets are geographically widespread, located across various countries such as the United States, Canada, Mexico, the Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of the close of 2021 (December 31st), Newmont reported substantial proven and probable gold reserves, totaling 92.8 million ounces, and managed a vast land portfolio covering 62,800 square kilometers. Founded in 1916, the company's corporate headquarters are situated in Denver, Colorado.
Historical context
All NEM earningsBasic Materials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| RPM RPM International Inc. | FY2027 Q1 · Calendar Q4 2026 | +1.5% | +3.2% | RPM posts record quarter, but input costs narrow the outlook |
Latest beats and misses
Who reports nextBeat on EPS
Get the NEM recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-09T03:20:43.483808+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-09T03:20:43.480970+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-09. For educational purposes only; not investment advice.