Newmont CorporationNYSE: NEM
Materials · Gold
$103.98
-1.60%
Vol: 3.5M
Research Digest
Thursday, June 18, 2026
Newmont announced new CFO, COO and CTO appointments within the last day as the gold miner's shares ride record Q1 free cash flow.
Within the last day, Newmont announced a significant leadership reshuffle, naming new CFO, COO and CTO to enhance operational efficiency at the world's largest gold miner. The move follows strong Q1 2026 results that delivered a record $3.1 billion in free cash flow and sent shares up about 9% on the prior Friday, with the stock up roughly 10% over the past week. Analysts view the name as undervalued, averaging a Buy rating with a ~$141 price target implying about 30% upside, and optimism is building around upcoming earnings and buybacks. The bull case rests on elevated gold prices, record cash generation and capital returns. The bear case centers on rising costs and regulatory changes in Ghana that could pressure future operations, plus execution risk from the broad C-suite turnover.
Previous Market Intelligence
13 daysJun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14Newmont shares surged ~9% Friday after record Q1 free cash flow, with BMO raising its price target to $145Positive▶
Newmont shares jumped about 9% on Friday, June 12, 2026, after the gold miner reported record quarterly free cash flow of roughly $3.1 billion and strong attributable gold production of about 1.30 million ounces in Q1 2026, alongside an expanded $6 billion share repurchase authorization. BMO Capital analyst Matthew Murphy raised the firm's price target to $145 from $140 and maintained an Outperform rating. The stock has been volatile, down about 10% over the prior week and 15.4% over the prior month on softer gold prices, but the rally reflects renewed confidence in cash generation. The bull case rests on record free cash flow funding buybacks and dividends. The bear case is exposure to falling gold prices, rising operating costs, and regulatory changes in Ghana that could pressure future operations, with National Bank issuing a downgrade citing production challenges.
May 21Newmont shares fell into a $104-$109 range on May 20 with no material company-specific catalyst overnightNeutral▶
Newmont traded between $104.13 and $109.57 on May 20, 2026, closing around $105.30 as gold-miner sentiment cooled following a sharp 6.2% pullback on May 15. The most recent company-specific news remains the May 13 annual shareholder meeting (directors, pay and auditor all approved) and a May 14 insider acquisition by Interim CPO Deborah Leyva (1,938 shares via award grant). The previously announced $6B share-repurchase expansion and record $3.1B Q1 free cash flow remain the structural bull case, but no fresh overnight catalyst is driving today's move.
May 20Newmont shares fell 6.2% to $109.06 on May 15 as an officer's small open-market buy on May 18 and a Form 144 filing for a 15,082-share insider sale signaled mixed insider conviction.Mixed▶
Newmont's stock plunged 6.2% to $109.06 on May 15, 2026, partially reversing a 3.6% gain earlier that week. On May 18, 2026, Interim Chief People Officer Deborah Leyva acquired 1,938 shares through an award grant, raising her holdings to 17,231 shares. On May 13, 2026, Newmont Overseas Exploration acquired 305,195 shares of Solitario Resources at $0.77 each, expanding its mining-asset stake. A Form 144 filing also disclosed a proposed sale of 15,082 insider shares. The 2026 Annual Meeting on May 12 confirmed all directors and ratified executive compensation with 92.5% approval. Insiders have sold $7.5M of shares over the past three months with no buying activity, though analysts maintain a Strong Buy consensus with a $122.08 average price target.
May 19Newmont shares pull back 6.2% on May 15 after rally as insider acquires shares and shareholders back boardMixed▶
Newmont shares fell 6.2% to $109.06 on May 15, 2026 after recent strength that saw the stock jump 3.6% to $120.67 on May 11 amid year-to-date gains of 21.1%. Shareholders backed directors, executive pay, and the auditor at the May 13 Annual Meeting. Insider Deborah Leyva acquired 1,938 shares via award grant on May 14. The company released its May 2026 investor presentation highlighting Q1 performance tracking to full-year guidance, with Q1 revenue of $7.31 billion exceeding expectations. Dividend ex-date was May 27 with a TTM yield of 0.84%. Analyst consensus is Strong Buy with a 12-month average price target of $122.08. Sentiment is mixed given recent profit-taking despite strong fundamentals.
May 18Newmont stockholders approve all 2026 annual meeting items on May 12 and declare $0.26 quarterly dividend amid 6.2% share drop on May 15Mixed▶
Newmont held its 2026 Annual Meeting on May 12, 2026, with stockholders electing all directors, providing 92.52% say-on-pay support, and ratifying Ernst & Young as auditor with 98.25% support. The company declared a $0.26/share dividend payable June 22 to holders of record May 27. Shares fell 6.2% to $109.06 on May 15 after rising 3.6% to $120.67 on May 11, despite record Q1 2026 free cash flow of $3.1 billion. Newmont also announced acquisition of 305,195 Solitario Resources shares at $0.77 on May 13. The bear case: gold price volatility, energy-cost pressures on production margins, and recent stock weakness suggest the rally may be overextended after a 36% six-month gain.
May 15Newmont shareholders approve all proposals at May 12 AGM; stock up 36% in 6 months on record Q1 cash flow and $6B buybackPositive▶
Newmont held its 2026 Annual Meeting on May 12 where all director nominees were elected with at least 96% support, say-on-pay passed with 92.52%, and EY was ratified as auditor with 98.25%. Q1 2026 revenue of $7.31B rose 45.85% YoY beating consensus by $741.7M, EPS of $2.90 beat $2.07 consensus, and free cash flow hit a record $3.10B. The Board authorized an additional $6B share repurchase program and kept the quarterly dividend at $0.26 (ex-date May 27, payable June 22). Shares climbed 3.6% to $120.67 on May 11 and are up 36.3% over six months on rising gold prices and earnings strength. Solitario Resources issued shares to Newmont on May 13 under an amended investor rights agreement. Consensus rating is Strong Buy from 12 analysts with PT $122.08. Risk: gold-price reversal would unwind recent rally.
May 14Newmont shares jump 3.6% to $120.67 on May 11; shareholders ratify all board nominees with 96%+ support at May 12 annual meeting.Positive▶
On May 11, 2026, Newmont Corporation shares jumped 3.6% to $120.67 on continued gold strength, bringing YTD gains to 21.1%. On May 12, 2026, Newmont held its Annual Meeting of Stockholders where all nominated directors were elected with at least 96% support (many above 99%), the say-on-pay vote was approved with 92.52% support, and EY was ratified as auditor with 98.25% support. The company released a May 2026 investor presentation confirming it is on track for full-year 2026 guidance of 5.3M ounces production, with Q1 having generated record $3.1B quarterly free cash flow and EPS of $2.90 versus $2.24 consensus. Newmont announced a fresh $6B share buyback authorization on top of the just-completed $6B program. Dividend of $0.26/share is payable June 22, 2026 to holders of record May 27. Analyst consensus is Strong Buy with $122.08 average target. Risk is that the stock now trades near consensus target, leaving limited near-term upside if gold consolidates.
May 13Newmont rose 3.6% to $120.67 on May 11 after Q1 2026 EPS of $2.90 beat by 33% with record $3.1B free cash flow and new $6B buyback authorization.Positive▶
Newmont Corp shares rose 3.6% to $120.67 on May 11, 2026. Q1 2026 EPS of $2.90 beat estimates by 33% and revenue of $7.31B exceeded forecasts by 12%. The company posted record quarterly free cash flow of $3.1B with gold production reaching 1.3M ounces. Three catalysts driving momentum: record FCF, a new $6B buyback atop a completed $6B program, and reaffirmed 2026 production guidance of 5.3M ounces with the largest reserve base in the industry. 17 of 18 analysts recommend Buy with an average 12-month price target of $144.01, though GF Value suggests the stock is 70% overvalued at $70.84.
May 12Newmont shares rose 3.6% to $120.67 on May 11 after Q1 2026 EPS of $2.90 crushed $2.18 consensus, record $3.1B FCF, and a new $6B buyback authorization on top of just-completed $6B program.Positive▶
Newmont reported Q1 2026 EPS of $2.90 versus $2.18 consensus (a 33% beat) and revenue of $7.31B versus $6.53B expected, producing approximately 1.3M attributable gold ounces and a record $3.1B in quarterly free cash flow. The company doubled its share repurchase program with an additional $6.0B authorization after fully executing the prior $6B program (with $2.4B repurchased since last earnings call). Newmont reaffirmed full-year production guidance of 5.3M ounces of gold and declared a $0.26 quarterly dividend payable June 22. Shares rose 3.6% to $120.67 on May 11. Insider activity: EVP Wexler sold 13,378 shares at $110.11 on May 1 and EVP Toth sold 3,000 shares.
May 11Newmont 2026 Annual Meeting scheduled for May 12 following record Q1 free cash flow and $6B buyback authorizationPositive▶
Newmont's 2026 Annual Meeting of Stockholders is scheduled for Tuesday, May 12, 2026 at 8:00 a.m. MDT. The company recently reported record Q1 2026 free cash flow of $3.1 billion, EPS of $2.90 versus the $2.24 consensus, and authorized a new $6 billion share repurchase program on top of a completed $6 billion program. Newmont reaffirmed 2026 production guidance of 5.3 million ounces with the industry's largest reserve base. A $0.26 per-share Q1 dividend is payable June 22 to holders of record May 27. Gold mining stocks rose with broad-based strength tied to potential geopolitical de-escalation. Average 12-month price target is $144.01 with 17 Buy and 1 Sell rating.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| NEMNEWMONT | $103.98 | -1.60% | +0.6% | 9.3x | 0.46 | $112.8B |
| LINLINDE | $516.54 | +0.13% | +1.9% | 26.2x | 0.73 | $238.5B |
| FCXFREEPORT | $68.30 | -1.10% | +17.6% | 17.7x | 1.36 | $99.3B |
| SHWSHERWIN | $320.47 | +2.12% | +4.9% | 23.7x | 1.13 | $77.4B |
| ECLECOLAB | $271.40 | +0.87% | +9.5% | 28.0x | 0.91 | $75.7B |
| CRHCRH | $113.12 | +3.39% | +11.0% | 16.4x | 1.19 | $73.1B |
Key Fundamentals
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