NEM

AI Research

+184% past year + 2026 guidance 5.3M oz → NEM gold rally benefits despite lower production

Newmont Corporation has surged 184% over the past year, riding a powerful gold bull market with spot prices near $3,050/oz as investors seek inflation hedges and safe-haven assets amid geopolitical uncertainty. The company issued 2026 gold production guidance of 5.3 million ounces, slightly below 2025 levels due to mine sequencing at its Boddington and Lihir operations, but maintained strong free cash flow generation above $2 billion. Analysts hold a Buy consensus with gold price leverage as the primary upside driver, while operational execution risks at its large portfolio of acquired Newcrest assets remain a key watch item.