--- title: "Weekly Recap | Newmont +11.74%, closing in on record highs" type: "News" locale: "en" url: "https://longbridge.com/en/news/296669574.md" description: "Newmont (NEM) delivered a strong week, rallying 11.74% to close at $131.58, comfortably outpacing the S&P 500’s 1.43% decline by roughly 13.17 percentage points. The stock opened Monday (18 Aug) at $119.39 and edged higher before dipping to a weekly low of $115.83 on Tuesday (19 Aug). Buying momentum kicked in from Wednesday (20 Aug) onward, with the share price climbing steadily through Thursday and Friday. NEM hit a fresh 60-day high of $132." datetime: "2026-08-22T05:22:06.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296669574.md) - [en](https://longbridge.com/en/news/296669574.md) - [zh-HK](https://longbridge.com/zh-HK/news/296669574.md) generator: "portal-rs" --- # Weekly Recap | Newmont +11.74%, closing in on record highs ## The Week Newmont (NEM) delivered a strong week, rallying 11.74% to close at $131.58, comfortably outpacing the S&P 500’s 1.43% decline by roughly 13.17 percentage points. The stock opened Monday (18 Aug) at $119.39 and edged higher before dipping to a weekly low of $115.83 on Tuesday (19 Aug). Buying momentum kicked in from Wednesday (20 Aug) onward, with the share price climbing steadily through Thursday and Friday. NEM hit a fresh 60-day high of $132.335 on Friday (21 Aug) before settling at $131.58. Weekly average daily volume stood at 8.6m shares, about 10% above the 60-day median, indicating a notable pickup in activity. ## Key Events Gold miners were in favour this week, with Newmont leading the charge among large-cap names. Early in the week, a bounce in US Treasury yields briefly pressured gold and sent NEM down 3.57% on Tuesday. The narrative shifted mid-week when the US Treasury announced a buyback programme, weakening the dollar and pushing gold towards $4,460/oz. NEM surged over 7% intraday on Wednesday, extending gains into the following sessions. On the company-specific front, Newmont reported record free cash flow and robust shareholder returns for Q2 2026, while appointing former BHP CFO Peter Beaven to its board and audit committee. In a separate transaction, StrikePoint Gold agreed to acquire Newmont’s Northumberland gold project in Nevada for $70m upfront, underscoring the company’s ongoing portfolio optimisation. By Friday, gold topped $4,500/oz for the first time in three months, and NEM added another 3%-plus gain. ## Analyst Ratings As of this week, 23 brokers cover Newmont. Of these, 15 rate it buy, 5 rate it overweight, 2 rate it hold, and 1 rates it sell, with no underweight or no-opinion ratings. The consensus recommendation is buy, and the consensus target price is $132.44, implying a modest 0.65% upside from the current share price of $131.58. Individual target prices range from $67.00 to $170.00, reflecting a wide dispersion of views on long-term valuation. Within the gold sector, NEM ranks second out of 49 peers, well above the industry mean and median scores of 8 and 7, respectively, signalling strong institutional endorsement. ## The Week Ahead The macro calendar will take centre stage next week, with a batch of US housing data – FHFA and Case Shiller indices – and the Conference Board consumer confidence gauge due on Tuesday (25 Aug). The consumer confidence figure (prior 90.8, forecast 90.1) will be closely watched for clues on the resilience of the US economy. For gold miners like Newmont, the direction of the dollar and Treasury yields, which these data points often influence, will remain the dominant short-term driver. ## In Short Newmont clocked a double-digit gain this week, buoyed by a combination of surging gold prices, high-quality earnings, and a boardroom refresh. The analyst consensus remains firmly positive – most brokers rate it buy or overweight – though the wide range of target prices suggests the market is still debating fair value. In the latest trading session, retail-sized flows were slightly net buyers, while large-lot flows were broadly balanced. For now, the gold price and its sensitivity to macro data remain the central story; next week’s housing and consumer confidence readings will be the next test for the precious metals trade. *This article is generated by LongbridgeAI from market data, for information only and not investment advice.* ### Related Stocks - [NEM.US](https://longbridge.com/en/quote/NEM.US.md) ## Related News & Research - [Abacus FCF Advisors LLC Makes New Investment in Newmont Corporation $NEM](https://longbridge.com/en/news/296448682.md) - [Why Newmont Mining rallied today](https://longbridge.com/en/news/296404409.md) - [Barrick Mining (TSX:ABX) After Earnings Growth And Newmont Deal Still Looks Slightly Undervalued](https://longbridge.com/en/news/296529222.md) - [Newmont Appoints Peter Beaven to Board of Directors | NEM Stock News](https://longbridge.com/en/news/296535724.md) - [Newmont names former BHP CFO Peter Beaven to board, audit committee](https://longbridge.com/en/news/296532116.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**