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Newmont Corporation
S&P 500
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$145.5B
Market Cap
15.6
P/E
0.22
PEG
19.5%
ROCE
21.0%
ROE
0.16
D/E
48.4%
OPM
0.0%
% from 52W High
88
α RS
🔍 NEM is showing a high-conviction setup because it matches 34 of 37 tracked screener presets, Sector RRG has Materials in the Leading quadrant with the trail still strengthening, and RS Rating is 88. Net: Broad signal stack, not a recommendation. ? Conviction RRG RS Rating
Sources
Conviction 34/37 · Materials in Leading quadrant · RS Rating 88
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🌏 Global Investor Returns
Currency-adjusted total returns for NEM including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Newmont Corporation operates as a gold producer. It also explores for copper, silver, lead, zinc, and other metals. It has operations and/or assets in the United States, Papua New Guinea, Australia, Ghana, Suriname, Argentina, Dominican Republic, Chile, Peru, Ecuador, Mexico, and Canada.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 1.67M $180.9M 0.28% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
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Good quarter Investor Presentation One-Pager? Q2 2026
Adjusted EBITDA
$3.8B
N/A
Net Income
$2.2B
N/A
Adjusted Net Income
$2.2B ($2.10/diluted share)
N/A
Free Cash Flow
$2.2B
Record Q2
Gold Production
1.3M oz
N/A
What Went Right
  • Record Q2 free cash flow of $2.2B on $2.9B operating cash flow
  • Produced 1.3M oz gold with ~50k oz pulled forward from H2 – still on track for FY guidance
  • Returned ~$1.9B to shareholders; 100M+ shares repurchased since Feb 2024
  • Red Chris Block Cave received key BC regulatory approvals
What to Watch
  • Oil at ~$100/bbl pressuring Q3 diesel, fuel and indirect costs; $60M full-year impact per $10/bbl
  • Cadia cave establishment paused until regulator approvals after April seismic event
  • Barrick JV dispute unresolved – notice of default still active, no enforcement timeline
Management Guidance
  • Q3 total portfolio production broadly in line with Q2; Q4 expected to be strongest
  • FY2026: 5.3M gold oz; gold AISC by-product $1,680/oz; sustaining capex $1.95B; development capex $1.4B
  • H1 production ~49% of FY plan, H2 ~51%; sustaining capex 58% weighted to H2, development capex 63% weighted to H2
Investor Lens
The investment thesis is stronger after this call: record free cash flow, disciplined cost management, and confirmation of full-year guidance support the capital returns story. Watch items are oil-price pass-through, Cadia's regulatory restart, and the Barrick JV overhang, but none derail near-term cash generation. Sustained buybacks and a potential $0.27 quarterly dividend in Feb 2027 signal confidence.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Strong quarter with record $2.2B FCF and 1.3M gold oz
Revenue
Top-line revenue was not disclosed on the call; Newmont reported $2.9B operating cash flow and $3.8B adjusted EBITDA.
Profitability
Adjusted net income was $2.2B, or $2.10 per diluted share, with reported net income also $2.2B. Realized gold price was $4,414/oz, up ~$1,100/oz year-over-year.
Margins
Gold AISC came in at $1,621/oz on a by-product basis, below the full-year guidance of $1,680/oz. Costs rose sequentially on lower volumes, higher fuel and Ghana royalties, partially offset by productivity improvements.
Balance Sheet
Ended Q2 with $3.4B net cash, $9.0B cash and $13.0B total liquidity. Q2 sustaining capex was $438M and development capex $285M, with H2 capex expected to be higher.
Key Risks
Management flagged ~$100/bbl oil translating into lagged diesel, freight and indirect cost pressure. Cadia's cave establishment remains halted pending regulator approvals, and the Barrick JV notice of default is still unresolved with no timeline.
Outlook
FY2026 gold production guidance is maintained at 5.3M oz with AISC of $1,680/oz. Q3 production is expected to be in line with Q2, followed by a stronger Q4, while capex is heavily back-half weighted.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-23
Strong Q2 results with $3.8B adjusted EBITDA and $2.2B free cash flow, maintaining cost discipline and returning $1.8B to shareholders. Production and capital spending are weighted to H2, with key projects advancing and cost pressures monitored.
Q1 2026 Q1 2026 2026-04-23
Strong Q1 2026 results featured record free cash flow, robust production, and margin expansion, with cost discipline offsetting energy price pressures. A new $6B share repurchase was authorized, and full-year guidance is maintained despite operational headwinds.
Q4 2025 Q4 2025 2026-02-19
Achieved record 2025 earnings and free cash flow, met production and cost guidance, and returned $3.4B to shareholders. 2026 guidance targets 5.3M oz gold at $1,680/oz AISC, with strong project pipeline and enhanced capital allocation prioritizing sustainable dividends and buybacks.
Q3 2025 Q3 2025 2025-10-23
Record Q3 results featured $3.3B adjusted EBITDA, $1.6B free cash flow, and a near-zero net debt position. Asset divestments and cost discipline drove improved 2025 guidance, while commercial production at Ahafo North and a streamlined structure position the company for long-term value.
Q2 2025 Q2 2025 2025-07-24
Q2 2025 saw record free cash flow and strong gold/copper production, with robust capital returns and a solid balance sheet. Guidance for 2025 remains unchanged, though H2 will see higher capital spend and lower grades at key mines. A major safety incident at Red Chris is under active management.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
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Information Sources:
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