Analyst Consensus ?
ConsensusBuy37 ratings
Bullish2773.0%
Neutral1027.0%
Bearish00.0%
Newmont Corporation · NEM · FY2026 Q3 · Calendar Q4 2026
Newmont Holds 2026 Guidance as Projects Set Up 2027 Growth
Newmont's Q3 showed robust cash generation and maintained 2026 guidance, while project execution supports management's stated 2027 growth outlook.
Reported After market closeNYSEBasic Materials
$120.24B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.20
Consensus $1.96
EPS surprise
+12.2%
Reported versus consensus
Reported revenue
$6.36B
Consensus $6.27B
Revenue surprise
+1.4%
Reported versus consensus
Market reaction
close-to-close (session unavailable)
Stock move
-2.6%
Event window
SPY move
-1.2%
Same window
Abnormal move
-1.4%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
NEMSPY benchmark
Ask FN2 about NEM FY2026 Q3
Transcript, numbers and history already loaded
Why did NEM fall 2.6% after beating EPS estimates in FY2026 Q3?What changed in NEM's guidance and outlook in FY2026 Q3?Give me the bull and bear case for NEM after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, Newmont disclosed the Nevada joint-venture asset sale, advanced Red Chris toward a final investment decision, improved its full-year all-in sustaining cost outlook, and highlighted potential Lihir water risk tied to El Niño.
Guidance delta
2026 production and cost guidance was reaffirmed; the full-year all-in sustaining cost outlook improved to $1.52k/oz, about 10% better than prior guidance.
Key takeaways
- Q3 free cash flow was $1.9 billion, supporting dividends, repurchases, and reinvestment.
- Red Chris advanced toward a final investment decision expected early next year, with construction targeted for 2027.
- Management indicated production growth is expected to resume in 2027, while Lihir water availability and project execution remain risks.
Management priorities
- Advance Red Chris, Tanami, PC2-1, and Yanacocha projects
- Maintain cost discipline and capital allocation across dividends, repurchases, and reinvestment
- Prepare for higher-grade ore access and production acceleration
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$114.11Current
$57Low
$107.5Average
$175High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 23, 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 |
|---|---|---|---|---|
| Freedom Broker | Hold | Buy | Downgrade | Oct 22, 2026 |
| Citigroup | Buy | Buy | Maintain | Oct 20, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 19, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Sep 16, 2026 |
| Bernstein | Outperform | Outperform | Maintain | Sep 9, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Aug 12, 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 |
| 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 $114.11. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Analyst unavailable | $123 | $118.6 | +7.8% | Oct 19, 2026 |
| CIBC | Analyst unavailable | $154 | $119.56 | +35.0% | Oct 16, 2026 |
| Bernstein | Analyst unavailable | $144 | $127.09 | +26.2% | Sep 9, 2026 |
| Raymond James | Brian MacArthur | $140 | $130.96 | +22.7% | Aug 24, 2026 |
| CIBC | Analyst unavailable | $170 | $117.85 | +49.0% | Aug 14, 2026 |
| Scotiabank | Analyst unavailable | $149 | $119.62 | +30.6% | Aug 12, 2026 |
| Argus Research | Alexandra Yates | $110 | $93.87 | -3.6% | Aug 3, 2026 |
| CIBC | Anita Soni | $168 | $91.64 | +47.2% | Jul 28, 2026 |
| Barclays | Richard Garchitorena | $124 | $93.47 | +8.7% | Jul 28, 2026 |
| Barclays | Analyst unavailable | $125 | $95.04 | +9.5% | Jul 15, 2026 |
| Scotiabank | Analyst unavailable | $147 | $94.88 | +28.8% | Jul 14, 2026 |
| RBC Capital | Josh Wolfson | $135 | $94.52 | +18.3% | Jul 9, 2026 |
| Jefferies | Analyst unavailable | $146 | $97.04 | +27.9% | Jul 6, 2026 |
| UBS | Analyst unavailable | $120 | $92.34 | +5.2% | Jun 30, 2026 |
| CIBC | Anita Soni | $175 | $107.23 | +53.4% | Jun 1, 2026 |
| Barclays | Analyst unavailable | $133 | $108.33 | +16.6% | May 21, 2026 |
| TD Securities | Steven Green | $129 | $120.7 | +13.0% | Apr 27, 2026 |
| BMO Capital | Matthew Murphy | $145 | $117.87 | +27.1% | Apr 24, 2026 |
| CIBC | Anita Soni | $176 | $110.51 | +54.2% | Apr 21, 2026 |
| National Bank | Shane Nagle | $130 | $113.41 | +13.9% | Apr 16, 2026 |
| UBS | Analyst unavailable | $140 | $102.1 | +22.7% | Mar 27, 2026 |
| BMO Capital | Matthew Murphy | $140 | $121.02 | +22.7% | Feb 20, 2026 |
| Stifel Nicolaus | Analyst unavailable | $175 | $120.39 | +53.4% | Feb 10, 2026 |
| CIBC | Analyst unavailable | $177 | $114.36 | +55.1% | Feb 4, 2026 |
| UBS | Analyst unavailable | $160 | $117.25 | +40.2% | Jan 30, 2026 |
| Scotiabank | Analyst unavailable | $152 | $128.69 | +33.2% | Jan 26, 2026 |
| Raymond James | Analyst unavailable | $111 | $100.47 | -2.7% | Dec 29, 2025 |
| Jefferies | Fahad Tariq | $120 | $89.76 | +5.2% | Dec 7, 2025 |
| BNP Paribas | Analyst unavailable | $97 | $90.72 | -15.0% | Dec 5, 2025 |
| UBS | Daniel Major | $125 | $91.82 | +9.5% | Dec 1, 2025 |
| Raymond James | Brian MacArthur | $99 | $83.31 | -13.2% | Oct 24, 2025 |
| Scotiabank | Analyst unavailable | $114 | $87.01 | -0.1% | Oct 23, 2025 |
| UBS | Analyst unavailable | $105.5 | $93.58 | -7.5% | Oct 16, 2025 |
| Goldman Sachs | Analyst unavailable | $104.3 | $85.14 | -8.6% | Oct 12, 2025 |
| Raymond James | Brian MacArthur | $96 | $85.21 | -15.9% | Oct 10, 2025 |
| CIBC | Analyst unavailable | $112 | $85.21 | -1.8% | Oct 10, 2025 |
| RBC Capital | Josh Wolfson | $95 | $75.92 | -16.7% | Sep 9, 2025 |
| Macquarie | Andrew Bowler | $72 | $74.4 | -36.9% | Sep 1, 2025 |
| CIBC | Anita Soni | $74 | $57.35 | -35.2% | Jul 15, 2025 |
| Argus Research | John Eade | $63 | $53.68 | -44.8% | Apr 25, 2025 |
| Raymond James | Analyst unavailable | $66 | $53.94 | -42.2% | Apr 25, 2025 |
| UBS | Daniel Major | $54 | $47.8 | -52.7% | Oct 30, 2024 |
| RBC Capital | Josh Wolfson | $53 | $57.74 | -53.6% | Oct 24, 2024 |
| Jefferies | Matthew Murphy | $63 | $53.04 | -44.8% | Oct 4, 2024 |
| Jefferies | Matthew Murphy | $54 | $51.3 | -52.7% | Sep 10, 2024 |
| Argus Research | John Eade | $58 | $51.83 | -49.2% | Aug 29, 2024 |
| Scotiabank | Tanya Jakusconek | $59 | $51.19 | -48.3% | Aug 19, 2024 |
| BMO Capital | Jackie Przybylowski | $57 | $47.7 | -50.0% | Jul 25, 2024 |
| CIBC | Anita Soni | $61 | $45.36 | -46.5% | Jul 10, 2024 |
| UBS | Daniel Major | $50 | $40.97 | -56.2% | Jun 17, 2024 |
| Scotiabank | Tanya Jakusconek | $48 | $41.28 | -57.9% | May 23, 2024 |
| Goldman Sachs | Emily Chieng | $67 | $41.02 | -41.3% | Dec 15, 2023 |
| RBC Capital | Josh Wolfson | $60 | $45.61 | -47.4% | Jul 27, 2022 |
| Canaccord Genuity | Carey MacRury | $60 | $46.14 | -47.4% | Jul 26, 2022 |
| Canaccord Genuity | Analyst unavailable | $80 | $73.43 | -29.9% | Apr 26, 2022 |
| Fundamental Research | Siddharth Rajeev | $63.1 | $55.25 | -44.7% | Nov 8, 2021 |
| CIBC | Anita Soni | $69 | $53.09 | -39.5% | Oct 29, 2021 |
| TD Securities | Greg Barnes | $70 | $58.82 | -38.7% | Jul 26, 2021 |
| Desjardins | John Sclodnick | $85.94 | $71.39 | -24.7% | May 20, 2021 |
| Argus Research | David Coleman | $73 | $62.68 | -36.0% | May 5, 2021 |
| BMO Capital | Andrew Kaip | $85 | $60.33 | -25.5% | 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 |
|---|---|---|---|---|
| SCCO Southern Copper Corporation | FY2026 Q3 · Calendar Q4 2026 | +6.4% | -2.1% | Southern Copper: Record Q3 results, projects advance amid execution risks |
| RS Reliance Steel & Aluminum Co. | FY2026 Q3 · Calendar Q4 2026 | +17.4% | -0.7% | Reliance posts record quarter as pricing and volume gains drive results |
| CRS Carpenter Technology Corporation | FY2027 Q1 · Calendar Q4 2026 | — | -22.3% | Carpenter Technology sees strong aerospace demand, maintains outlook |
| DOW Dow Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +1.2% | Dow Q3: Pricing, self-help and AI demand support outlook |
Latest beats and misses
Who reports nextBeat on EPS
- ALLEFY2026 Q3 · October 22, 2026+4.0% EPS+11.0% move
- CBREFY2026 Q3 · October 22, 2026+4.6% EPS-2.5% move
- RFY2026 Q3 · October 22, 2026+4.3% EPS+10.5% move
- WDCFY2027 Q1 · October 22, 2026+12.9% EPS-6.4% move
- MEDPFY2026 Q3 · October 21, 2026+9.0% EPS-1.3% move
- MOHFY2026 Q3 · October 21, 2026+12.7% EPS+0.8% move
Missed on EPS
- SSBFY2026 Q3 · October 21, 2026-4.2% EPS+2.4% move
- ROLFY2026 Q3 · October 21, 2026-1.4% EPS+5.6% move
- GGGFY2026 Q3 · October 21, 2026-2.5% EPS-16.6% move
- GL-PDFY2026 Q3 · October 21, 2026-1.2% EPS— move
- GLFY2026 Q3 · October 21, 2026-1.2% EPS-3.8% move
- METAFY2026 Q3 · October 21, 2026-41.4% EPS+0.5% move
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 · 2026-10-23T01:03:55.192697+00:00
- FN2 earnings calendar · 2026-10-23T01:23:12.835668+00:00
- Polygon adjusted daily market bars · 2026-10-23T01:30:41.482860+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-23T01:30:41.479621+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 2026-10-23. For educational purposes only; not investment advice.