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Newmont Stock Rises 2.1% as UBS, RBC Hike Targets to $155

Newmont Corporation IR2 min read6 sources

Why is Newmont stock up today?

Newmont (NEM) stock rose 2.1% to $124.37 on Thursday after UBS and RBC raised price targets to $155, citing the cleared Fourmile dispute and capacity for a $6 billion buyback.

Key numbers

NEM stock price$124.37+2.1% today; +25.4% YTD vs S&P 500 +11.6%
Analyst price targets$155UBS from $120, RBC from $135 — both raised Sep 16
Gold spot price$4,345/oz+1.9% on Sep 17; down ~22% from Jan 2026 all-time high
NEM cash on hand$9.0B$13.0B total liquidity as of Q2 2026
Q2 2026 free cash flow$2.2Brecord quarter; H1 2026 total $5.5B; full-year guidance >$11B
Buyback remaining$4.3Bof $6.0B authorization; 100M+ shares repurchased since Feb 2024

What happened

Newmont (NEM) stock rose 2.1% to $124.37 on Thursday after UBS and RBC raised price targets to $155, citing the cleared Fourmile dispute and capacity for a $6 billion buyback. Gold spot prices climbed 1.9% to about $4,345 per ounce on the day, recovering from weakness after Wednesday's Federal Reserve rate hike. Both banks — UBS from $120 and RBC from $135 — pointed to August's settlement with Barrick Mining, which brought the Fourmile gold discovery in Nevada into the companies' shared joint venture in exchange for $1.95 billion in cash. Newmont's $9 billion cash pile and $4.3 billion remaining in its buyback program underpin the analysts' confidence.

Why it matters

Newmont is the world's largest gold miner, so when multiple banks raise price targets in the same week, it signals a shift in how Wall Street values the sector. The Fourmile settlement removed a years-long dispute that had clouded Newmont's Nevada assets, letting investors value its $9 billion cash pile more cleanly. Gold is also recovering after the Federal Reserve's first rate hike in three years, making the metal's defensive qualities more attractive as equity markets stay volatile.

Who this affects

Marketbullish
Medium impact
Gold miners broadly rise as Newmont upgrade lifts sector sentiment.
Companybullish
High impact
Newmont shareholders benefit from higher targets and buyback support.
Competitorsbullish
Low impact
Barrick, Agnico, and Kinross gain as gold sector rallies.
Industrybullish
Medium impact
Gold sector repriced higher as disputed assets and returns clarify.

Newmont vs Barrick Mining, Agnico Eagle, Kinross

NewmontNEM$131B+2.1%+25.4%13.4x
Barrick MiningB$71.9B+2.7%+0.4%10.4x
Agnico EagleAEM$102B+3.0%+19.6%13.4x
Kinross GoldKGC$33.8B+2.4%-0.5%9.1x

As of 2026-09-17

How we got here

  1. Q2 earnings show record $2.2B free cash flow; cash pile hits $9.0B.

  2. Fourmile dispute settled; Newmont pays Barrick $1.95B, secures Nevada gold asset.

  3. UBS raises NEM target to $155 from $120; RBC follows to $155 from $135.

  4. Gold rebounds 1.9% to $4,345/oz; NEM closes at $124.37, up 2.1%.

What to watch

  • Barrick's North American IPO of Nevada Gold Mines, including Fourmile, expected.Q4 2026
  • Newmont's buyback pace; $4.3B remains under $6B authorization.Q3 2026
  • Gold price direction after Fed's first rate hike in three years.2026-11-05

Educational content only. Not investment advice.

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