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The Week

Newmont (NEM) fell 8.2% this week to close at $108.87, trailing the S&P 500 by about 7.73 percentage points after the benchmark lost 0.47%. The stock started Monday at $117.95 and touched a weekly high of $119.24 before losing momentum. It drifted between roughly $116 and $118 on Tuesday and Wednesday, then came under heavier selling from Thursday. Friday broke below the $110 level, hitting a low of $107.81 and finishing near the bottom of the weekly range. The week’s amplitude was 9.69%, with turnover running above the 60-day median.

Key Events

The main story was the third-quarter earnings report released before Friday’s open. Newmont posted record adjusted EPS of $2.20 for the quarter, beating estimates, and generated $1.9 billion in free cash flow while saying the 2026 guidance remained on track. At the same time, attributable gold production fell year over year, quarterly output rose only 1% quarter over quarter, the average realised gold price dropped to $4,317 per ounce, and the company warned that fourth-quarter unit costs would rise. Gold miners had already pulled back twice earlier in the week as bullion prices edged lower, and after the report cost and output concerns outweighed the earnings beat. The stock fell in premarket trading and slid 3.77% on Friday.

Analyst Ratings

Among the 23 firms covering Newmont, 14 rate it buy, 5 overweight, 3 hold, and 1 sell. The consensus rating is buy, with a consensus target of $136.09524, about 25.01% above the latest close. The range is wide, from a low of $70 to a high of $165, showing real disagreement over costs and the gold price path. Within the gold industry, Newmont ranks second out of 49 peers on analyst ratings.

The Week Ahead

The earnings digestion continues, with the focus shifting to US macro data next week. Tuesday brings durable goods orders, FHFA house prices, new home sales, and consumer confidence, and gold’s sensitivity to rate expectations will be in play. On the company front, the next report is the Q4 release on 18 February 2027, when the market will test whether the higher fourth-quarter cost guidance actually plays out.

In Short

This week Newmont faced a tension between record earnings and rising costs with falling output. The consensus rating stays at buy and the consensus target sits about 25% above spot, with a strong ranking within the industry. But the latest session’s money flow showed large-lot net selling, and the stock broke below its 20-day moving average toward the 60-day line. Concern over fourth-quarter unit costs outweighed the profit beat. What matters next is whether bullion stabilises and whether Newmont can signal a clearer path on costs.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.