YouTube · Q2 2026 · 2026-08-13
NEM · NYSE
Newmont Corp
Gold · United States
USD 118.47-1.2% daily changeQuote 2026-11-11 · USD
- Market cap (USD)
- US$123.11B
- Trailing P/E
- 13.74x
- Forward P/E
- 11.73x
- Quarterly revenue growth
- 15.2%
- Trailing net margin
- 34.7%
- Indicated dividend yield
- 0.9%
Snapshot 2026-11-11 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Company background
Newmont Corporation operates as a gold producer. It also explores for copper, silver, lead, zinc, and other metals. It has operations and/or assets in the United States, Papua New Guinea, Australia, Ghana, Suriname, Argentina, Dominican Republic, Chile, Peru, Ecuador, Mexico, and Canada. The company was founded in 1916 and is headquartered in Denver, Colorado.
Company websiteQ3 2026
Go beyond the headline.
NEM Stock: Gold Lifts Profit — How Much Cash Is Really Spare? | Q3 2026
Published 2026-10-27
Q3 2026 REPORT HIGHLIGHTS
What’s changed for NEM
Newmont earns more from higher gold prices, while mine costs, project spending and the NGM payment test sustainable cash returns.
Higher prices explain much of the improvement.
Gold realized rose 22%, while attributable production fell 8.4%.
The cost distinction matters.
Byproduct AISC was $1,454/oz; co-product AISC was $1,963/oz. Neither equals total owner cash cost.
Cash remains substantial.
Q3 free cash flow was $1.912B, after $856M cash PP&E additions.
Some liquidity is committed.
The expected $1.95B NGM payment precedes major development milestones.
Valuation offers little cushion.
Our $103 base and $109.25 weighted scenario value sit near or below the $110.39 reference.
Comparable businesses
NEM peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | NEMNewmont CorporationSnapshot 2026-11-11Financial period: 2026-09-30 | FNVFranco-Nevada CorporationSnapshot 2026-11-11Financial period: 2026-06-30 | GFIGold Fields LimitedSnapshot 2026-11-11Financial period: 2026-06-30 |
|---|---|---|---|
| Market capMarket value, converted to USD | US$123.11B | US$47.98B | US$33.23B |
| Forward P/EProvider forward earnings estimate | 11.73x | 28.06x | 7.79x |
| EV / EBITDAEnterprise value / trailing EBITDA | 6.90x | 23.15x | 9.63x |
| Revenue growthLatest quarter vs prior-year quarter | 15.2% | 58.2% | 78.9% |
| Operating marginLatest reported quarter | 55.6% | 76.1% | 53.1% |
| Free cash flow yieldTrailing cash flow / market cap | 7.4% | 1.0% | 12.6% |
| Net debt / EBITDANet debt / trailing EBITDA | -0.18x | -0.49x | 0.06x |
| Debt / equityTotal debt / positive book equity | 0.16x | — | 0.29x |
| Trailing P/ETrailing twelve-month earnings | 13.74x | 32.52x | 7.70x |
| Price / bookPrice / positive book equity per share | 3.46x | 5.82x | 7.46x |
| EV / salesEnterprise value / trailing revenue | 4.57x | 21.00x | 6.04x |
| Earnings growthLatest quarter vs prior-year quarter | 40.7% | 43.0% | 81.4% |
| Gross marginTrailing twelve months | 68.0% | 92.1% | 57.8% |
| Net marginTrailing twelve months | 34.7% | 64.2% | 38.7% |
| Return on equityProvider trailing return; positive equity only | 27.3% | 19.9% | 58.7% |
| Free cash flow marginTrailing free cash flow / revenue | 34.4% | 20.4% | 36.7% |
| Dividend yieldIndicated annual dividend / price | 0.9% | 0.7% | 5.7% |
| Earnings payoutProvider trailing dividend payout | 11.9% | 21.4% | 31.8% |
| Current ratioCurrent assets / current liabilities | 2.45x | 9.38x | 1.87x |
| BetaProvider historical market sensitivity | 0.57 | 0.93 | 0.75 |
YouTube · Q2 2026 · 2026-08-13
YouTube · H1 2026 · 2026-08-27
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-11. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for NEM
Q3 20262026-10-27
FREE RESEARCH PACKET · Q3 2026
NEM: Gold Lifts Profit — How Much Cash Is Really Spare?
Newmont earns more from higher gold prices, while mine costs, project spending and the NGM payment test sustainable cash returns.
Research published October 26, 2026 · Download original report
Read Research PacketNEM Stock: Gold Lifts Profit — How Much Cash Is Really Spare? | Q3 2026
Presentation · 2026-10-27 · YouTube
Q2 20262026-07-24
Newmont Stock: Record Gold, Record Cash, a Falling Stock — Why We’re a Cautious BUY (NEM Q2 2026)
Presentation · 2026-07-24 · YouTube
Q1 20262026-04-26
NEM Stock: Earnings Deep Dive — Q1 2026 Earnings Analysis
Presentation · 2026-04-26 · YouTube