New York, Jan 27, 2026, 21:09 EST — Market closed.
- Newmont ended the day 0.86% higher at $127.00, with intraday swings from $121.56 to $127.10.
- Gold surged to a fresh high on safe-haven demand, drawing renewed attention to miners ahead of the Fed’s announcement.
- Scotiabank raised its price target on Newmont to $152.
Newmont Corp shares ended Tuesday up 0.86% at $127.00, boosted by a fresh surge in gold prices that drew funds back into major miners. The stock swung between $121.56 and $127.10 during the session and showed a modest uptick in after-hours trading.
Gold surged more than 3% on Tuesday, with spot prices climbing to $5,181.84 an ounce after breaking past $5,000 the day before. The boost came from a familiar cocktail of geopolitics, tariff news, and fiscal concerns. Traders also prepared for the Federal Reserve’s two-day meeting that kicked off Tuesday, plus Fed Chair Jerome Powell’s press conference on Wednesday. “Rallies normally end because the drivers that took people into the gold market originally dissipate – and that’s just not the case,” said Michael Widmer, commodities strategist at Bank of America. Reuters
This hits Newmont hard since its earnings hinge closely on gold prices. When the metal shifts, miners often react even more sharply than bullion, as investors quickly adjust margins, cash flow, and balance-sheet leverage.
The stage has been set since Monday, when miners surged as gold hit a record near $5,100. That day, Newmont climbed about 3%, while Barrick Mining added 2.3%, with the whole sector moving higher. “It is difficult to see what really forces this market to roll over, aside from a wave of profit-taking,” said Fawad Razaqzada, market analyst at City Index. Reuters
Analyst sentiment is heating up alongside gold’s rally. On Jan. 26, Scotiabank’s Tanya Jakusconek reaffirmed a Buy rating on Newmont, raising her price target sharply from $114 to $152, according to TipRanks data.
Traders are zeroing in on two key signals: if gold stays above $5,000 and how U.S. interest rates and the dollar behave, since shifts there can sap demand for “safe-haven” assets — those investments people flock to for protection during turbulent times.
It’s not all smooth sailing, though. Zacks Investment Research pointed out rising production costs, including higher all-in sustaining costs (AISC)—a key metric miners use to track ongoing production and maintenance expenses. They also noted lower gold output and elevated sustaining capital, factors that could squeeze cash flow despite higher metal prices.
Newmont plans to report its fourth-quarter and full-year 2025 earnings after North American markets close on Thursday, Feb. 19. The company will hold a conference call at 5:30 p.m. Eastern that day.
Wednesday’s Fed statement stands as the immediate trigger for the next session — it will determine if Tuesday’s gold-fueled rally in Newmont sticks or slips into fresh profit-taking.
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