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Bernstein lowered its price target for the gold miner from $147 down to $144. The firm kept its outperform rating, which is a signal that it still expects the stock to do better than the broader market. This small adjustment leaves the target well above the current price of about $123. It also sits higher than the average analyst target of $137. Since the rating did not change, this is a routine update to a price target rather than a shift in how the firm sees the business.
Source: Bernstein
Newmont bought a small stake in Solitario Resources, a junior mining company, for about $117,000. This purchase was made at $0.86 per share under a 2025 agreement that gives Newmont the right to maintain or grow its investment in the smaller firm. While the dollar amount is tiny for a company of Newmont's size, these types of deals are common. Large miners often take small stakes in junior explorers to get a front-row seat to new discoveries without the risk of running the early-stage projects themselves.
Inflation stayed higher than the central bank's 2 percent goal in July. This matters for a gold miner like Newmont because persistent inflation often keeps interest rates higher for longer.
When rates are high, gold can be less attractive to own because it pays no interest. However, if high inflation starts to worry the broader market, some people buy gold as a safe place to store value. For now, this report suggests the Fed may not be ready to lower borrowing costs as quickly as some had hoped.
Raymond James set its target at $140. This is a little higher than the $136 average across all analysts who follow the company. Since the firm did not change its overall rating on the stock, this is a routine update that suggests they see the business as fairly valued at current levels.
Source: Raymond James
Newmont has appointed Peter Beaven as an independent director. He will also join the audit committee, the group responsible for overseeing the company's financial reporting and internal controls. Beaven previously served as the Chief Financial Officer of BHP, one of the world's largest mining companies, for six years.
This is a notable addition because Beaven has deep experience in mergers and acquisitions within the mining industry. His background aligns with Newmont's current focus on selling off smaller mines and integrating its recent multibillion-dollar purchase of Newcrest Mining.
Source: 8-K filing
Management has consistently set conservative bars and cleared them by wide margins, proving they have a firm handle on the business even as they integrate a massive merger.
| Expectation | |
|---|---|
| EPS | $2.16 |
| Revenue | $6.25B |