
Newmont Mining (NEM) Stock Forecast & Price Target
Newmont Mining (NEM) Analyst Ratings
Bulls say
Newmont's positive outlook is supported by its substantial gold production forecast of approximately 6.8 million ounces in 2024, driven by its robust portfolio of 17 wholly or majority-owned mines and joint ventures. The company benefits from enhanced long-term production visibility due to advancements in its large-scale development projects, which could bolster its production profile post-2028. Furthermore, Newmont's significant reserves, comprising about two decades of gold and various byproducts, strengthen its overall financial stability and growth potential in comparison to its peers.
Bears say
Newmont is facing a negative outlook due to lower near-term production forecasts, coupled with an increase in projected costs and capital spending, leading to below-average free cash flow. The recent acquisition of Newcrest introduces high integration risks and has resulted in a significant reduction of average earnings estimates for 2024-2026, including a 30% drop in free cash flow per share. Additionally, operational challenges at key mines, particularly with geotechnical risks and ongoing underperformance at certain assets, further exacerbate concerns regarding future production and profitability.
This aggregate rating is based on analysts' research of Newmont Mining and is not a guaranteed prediction by Public.com or investment advice.
Newmont Mining (NEM) Analyst Forecast & Price Prediction
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