Key Highlights
- Citi maintained its Buy stance while boosting NEM’s price target from $118 to $150
- Bernstein elevated NEM to Outperform status and increased its price objective from $121 to $157, backed by optimistic gold projections
- The company exceeded earnings forecasts in all four recent quarters, including a Q4 EPS beat of +24.14%
- Wall Street’s EPS projection for the ongoing fiscal year stands at $8.65, representing a 25.5% annual increase
- NEM delivered a +0.8% gain during the previous month, while the S&P 500 declined by 2.7% over the identical timeframe
The gold mining giant’s attributable mineral reserves decreased to 118.2 million ounces by the close of 2025, compared to 134.1 million ounces in the previous year, primarily attributed to divestiture activities. Despite this reduction, the corporation maintains substantial reserves of 12.5 million tonnes of copper and 442 million ounces of silver.
During the fourth quarter, Newmont reported total revenues reaching $6.82 billion, marking a robust 20.6% increase compared to the prior year period. Earnings per share hit $2.52, significantly higher than the $1.40 recorded twelve months earlier.
Both metrics surpassed Wall Street’s projections. The revenue figure exceeded the Street’s consensus forecast of $6.06 billion by 12.58%, while earnings per share outperformed expectations by 24.14%.
This marks the fourth consecutive quarter where the mining company has delivered earnings results above consensus predictions. Revenue performance has similarly exceeded analyst estimates throughout this entire period.
Analysts are projecting Q1 EPS of $1.91, which would represent a substantial 52.8% improvement versus the comparable period last year. This consensus figure has been revised upward by 10.4% during the last 30 days.
Regarding full-year expectations, the Street’s consensus EPS forecast is positioned at $8.65, indicating 25.5% expansion compared to the previous fiscal year. This projection has experienced an 11.2% upward revision over just the past month.
Wall Street Target Price Increases
Citi announced its revised price target on March 3, elevating NEM’s objective to $150 from the previous $118 while maintaining its Buy recommendation.
Bernstein acted slightly earlier on February 27, upgrading its rating from Market Perform to Outperform while simultaneously raising the price target from $121 to $157.
Bernstein’s rationale centered on an optimistic outlook for gold commodity prices. The firm additionally highlighted new leadership with a defined strategic vision, what it characterized as realistic operational guidance, and strengthening ties with Newmont’s principal joint venture collaborator.
Investment Rating and Valuation Metrics
Zacks has assigned NEM a #1 Strong Buy ranking. This classification reflects the magnitude and trajectory of recent upward revisions to earnings projections.
From a valuation perspective, Newmont receives a C grade within the Zacks Value Style Score framework, indicating the stock is priced comparably to industry peers — neither undervalued nor overextended.
During the past 30 days, NEM shares advanced 0.8%, contrasting with the S&P 500’s 2.7% decline. The Zacks Mining – Gold sector climbed 4.6% during this same interval.
For the present quarter, analyst consensus calls for revenues of $5.87 billion, representing a 17.2% year-over-year advance. Full-year revenue projections stand at $24.01 billion and $27.65 billion for fiscal years 2025 and 2026 respectively.
