NEM
Newmont Corporation
NEM's fundamentals are strong and it looks cheap: trading at 13x earnings, below its usual 16x. Analysts expect earnings growth, though they disagree widely on how much.
NEM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
NEM's revenue, profitability, cash flow and balance sheet are all currently healthy.
NEM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $113 | — |
| Cheap | 13x | $114 | +1.6% |
| Current | 13x | $113 | — |
| Fair | 16x | $141 | +25% |
| Expensive | 37x | $320 | +184% |
Historical ranges are pointers, not guarantees.
NEM's PE is in its cheap range at 13x. If earnings grow as analysts expect, today's price would be 12x next year's earnings.
NEM Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect NEM's earnings to grow and its profitability to improve, with its revenue holding steady. However, they disagree widely on these estimates.
NEM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.52 | +11% |
| Q3 2026 | $8.60 | +34% |
| Q2 2026 | $7.92 | +42% |
| Q1 2026 | $7.71 | +73% |
| Q4 2025 | $6.39 | +119% |
| Q3 2025 | $6.43 | +$8.54 |
| Q2 2025 | $5.56 | +$8.27 |
| Q1 2025 | $4.45 | +$7.71 |
| Q4 2024 | $2.92 | +$5.89 |
NEM's earnings per share have climbed steadily: $8.60 over the past year, up 34% from the year before, and higher year over year for eight quarters in a row.
NEM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $6.4B | +15% |
| Q2 2026 | $6.1B | +15% |
| Q1 2026 | $7.3B | +46% |
| Q4 2025 | $6.8B | +21% |
| Q3 2025 | $5.5B | +20% |
| Q2 2025 | $5.3B | +21% |
| Q1 2025 | $5B | +25% |
| Q4 2024 | $5.7B | +43% |
NEM's revenue has grown year over year for 12 quarters in a row: $6.4B last quarter, up 15% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 50% | +3.1 points |
| Q2 2026 | 51% | -7.1 points |
| Q1 2026 | 61% | +16 points |
| Q4 2025 | 45% | +10 points |
| Q3 2025 | 47% | +22 points |
| Q2 2025 | 58% | +34 points |
| Q1 2025 | 45% | +35 points |
| Q4 2024 | 35% | +106 points |
NEM's operating margin was 50% last quarter, up 3.1 points from the same quarter a year ago.
NEM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.9B | +22% |
| Q2 2026 | $2.2B | +29% |
| Q1 2026 | $3.1B | +161% |
| Q4 2025 | $2.8B | +72% |
| Q3 2025 | $1.6B | +104% |
| Q2 2025 | $1.7B | +188% |
| Q1 2025 | $1.2B | +$1.3B |
| Q4 2024 | $1.6B | +$1.9B |
NEM generated $10.1B in free cash flow over the past year, up 65% from the year before.
NEM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.5% | -16M shares |
| 1 year | -4.5% | -49M shares |
| 3 years | +32% | +256M shares |
| 5 years | +31% | +248M shares |
| Available history | +28% | +231M shares |
NEM has 1.1B diluted shares, down 4.5% from a year ago, with $5.7B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1.8B |
| Q2 2026 | $1.6B |
| Q1 2026 | $1.9B |
| Q4 2025 | $428M |
| Q3 2025 | $516M |
| Q2 2025 | $1B |
| Q1 2025 | $348M |
| Q4 2024 | $798M |
NEM spent $5.7B buying back its own shares over the past year, up 112% from the year before.
NEM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.3x | Net Cash |
| Q1 2026 | -0.2x | Net Cash |
| Q4 2025 | -0.2x | Net Cash |
| Q3 2025 | -0.0x | Net Cash |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | 0.3x | Very low |
| Q4 2024 | 0.7x | Very low |
NEM has more cash than debt.
NEM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.0 | Neutral |
| Stochastic | 43.5 | Neutral |
NEM's weekly RSI is 50 (neutral) and its Stochastic is 44 (neutral).
NEM PE vs Basic Materials Sector
| Metric | NEM | Sector median | Relative |
|---|---|---|---|
| PE | 13x | 19x | 30% below |
| PE % | 15 | 40 | 25 pts below |
NEM is trading at 13x earnings, a 30% discount to the Basic Materials sector's median of 19x.
NEM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $115.3 | 2.3% below |
| 20 week MA | $113.0 | 0.3% below |
| 50 week MA | $111.1 | 1.4% above |
| 100 week MA | $85.8 | 31% above |
| 200 week MA | $64.4 | 75% above |
NEM has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 75% above its 200-week average.
NEM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $42.7 | $60.5 | +42% |
| 2021 | $60.5 | $59.5 | -1.6% |
| 2022 | $59.5 | $47.9 | -20% |
| 2023 | $47.9 | $41.4 | -14% |
| 2024 | $41.4 | $37.8 | -8.6% |
| 2025 | $37.8 | $105.8 | +180% |
| 2026 YTD | $105.8 | $112.6 | +6.5% |
NEM has finished lower in four of the last six years. It's up 6.5% so far in 2026.