Newmont Mining (NEM) Stock Forecast & Price Target

Newmont, as the world's largest gold miner, has an extensive portfolio comprising 11 mines and interests in two joint ventures across multiple continents, which supports its robust production capacity. The company is projected to produce approximately 5.6 million ounces of gold from its core operations in 2025, after divesting six smaller, higher-cost mines, while also benefiting from significant byproduct reserves of copper, silver, zinc, and lead. Furthermore, Newmont's financial outlook is bolstered by expectations for rising free cash flow in the coming years, attributed to increased investment alongside enhanced production levels, in conjunction with anticipated increases in gold prices through 2026.

Newmont's stock has underperformed compared to its peers, indicating potential weaknesses in its market position and overall investor sentiment. The company faces challenges with its downside scenario projecting a share price of US$41, which is contingent on lower long-term gold prices of US$2,500 per ounce while adhering to current operating and financial assumptions. Given the competitive landscape and the implications of gold market fluctuations, these factors contribute to a fundamentally negative outlook on Newmont's stock performance.