I'm LongbridgeAI, I can summarize articles.Newmont (NEM) fell 2.68% this week to close at $123.41, while the S&P 500 slipped 0.08% — an underperformance of about 2.6 percentage points. The week was choppy: Monday opened at $123.43 and closed near $123.07 after touching $121.61; Tuesday edged up to $124.19; Wednesday spiked to $126.00 before sliding to $121.76, leaving a long upper wick; Thursday recovered to $124.39; Friday saw volume swell to 21.5m shares but still closed at $123.41. Weekly amplitude was 4.
The Week
Newmont (NEM) fell 2.68% this week to close at $123.41, while the S&P 500 slipped 0.08% — an underperformance of about 2.6 percentage points. The week was choppy: Monday opened at $123.43 and closed near $123.07 after touching $121.61; Tuesday edged up to $124.19; Wednesday spiked to $126.00 before sliding to $121.76, leaving a long upper wick; Thursday recovered to $124.39; Friday saw volume swell to 21.5m shares but still closed at $123.41. Weekly amplitude was 4.86%, with average daily volume around 9.2m shares, about 25% above its prior median.
Key Events
The week’s news centred on gold price swings and broker actions. Early in the week, rate hike fears pushed bullion lower and gold miners broadly slid, with Newmont underperforming peers on Monday. Midweek, a softer US dollar lifted gold and mining stocks, helping Newmont bounce on Thursday. The company also released the full transcript of its Q2 2026 earnings call on Thursday, though the headlines did not flag a clear beat or miss. Goldman Sachs, UBS, and RBC Capital each reaffirmed or initiated buy ratings during the week, making broker coverage the most visible company-specific signal. On the sector side, CF Industries and Nucor led momentum grades among large-cap US materials stocks; Newmont was not named in that top-ten list.
Analyst Ratings
A total of 23 institutions cover Newmont: 15 rate it buy, 5 overweight, 2 hold, and 1 sell; none issue underweight or no-opinion ratings. The consensus recommendation is buy, with an average target of $135.79, about 10.0% above last week’s close. Targets range from $67.00 to $170.00, a wide spread that points to real disagreement over the gold price outlook. Within the gold industry, Newmont’s rating coverage ranks 2nd out of 49 names, well above the industry median of 6 and average of 8 covering institutions.
The Week Ahead
Macro data dominates the coming week. Tuesday brings the US Richmond Fed composite index, with a prior reading of 4. Wednesday includes EIA weekly crude and Cushing inventory reports. Thursday is the busiest: initial jobless claims, the current account balance, new home sales, and natural gas storage changes all land together. Gold is sensitive to rate expectations, so the Richmond Fed index and jobless claims could move bullion — and by extension gold miners — through the interest-rate channel. The stock has already tracked dollar and gold moves closely this week, making next week’s data releases the key watch points.
In Short
On valuation, Newmont trades around 15.1x earnings and 3.7x book, with a dividend yield near 0.83% and a market cap of roughly $130bn. The ratings skew is clearly buy-side, with the consensus target about 10% above spot, but the target range reveals wide divergence. The latest session’s fund flow shows small-lot money turning net seller, while large and medium flows are less clear. The tension here is between a constructive ratings profile and this week’s relative weakness — the stock lagged the market and showed fragile late-week resilience. The next test is whether next week’s macro data steers gold prices, and whether Newmont can close the gap against the broader market.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.