Newmont Stock Skyrockets as Gold Rally Hits Record Highs

16 October 2025

NEM Price & Rally: Newmont shares have leapt in 2025, trading around the high $80s–$90s as of mid-October and up roughly 60% over the past six months ^[1]. The stock is near its 52-week high (~$93.93) ^[2] and recently opened around $93.50 on Oct. 16 ^[3].
Analyst Ratings & Targets: Wall Street is generally bullish. The consensus rating is “Moderate Buy,” and Bank of America this week raised its price target to $115 (about 23% above the prior close) ^[4]. Goldman Sachs’ target is ~$104 ^[5], BNP Paribas ~$92 ^[6]. Combined, analysts show 4 “Strong Buy” and 12 “Buy” ratings versus just a few holds or sells ^[7] ^[8].
Technical Indicators: NEM’s technicals are highly bullish. The 50-day SMA (~$89) and 200-day SMA (~$84) both lie below the current price, confirming the uptrend ^[9]. Momentum is very strong – the 14-day RSI is ~86 (deeply overbought) and the MACD is positive (~+2.32), both signaling continued strength ^[10]. All major moving averages (5, 10, 20, 50, 100, 200 days) currently give “Buy” signals ^[11] ^[12].
Fundamentals & Dividends: Newmont’s fundamentals are solid. Q2 2025 EPS came in at $1.43 (beating estimates of $0.95), with revenue +20.8% YoY ^[13]. Forward P/E is only ~16× ^[14], in line with peers. The company pays a quarterly dividend (currently $0.25/share) yielding about 1.1% ^[15], with a low ~20% payout ratio ^[16]. Free cash flow is robust ($1.7B in Q2), and Newmont has $10+ billion of liquidity to fund growth or buybacks ^[17]. Raymond James recently raised its Q3 EPS estimate to $1.30 ^[18], reflecting upbeat expectations.
Gold and Macro Backdrop: Gold prices have surged to historic levels, bolstering Newmont’s outlook. Spot gold recently topped $4,200/oz ^[19] – up over 60% YTD ^[20] – as safe-haven demand grows amid U.S.-China trade tensions and anticipated Fed rate cuts. Traders are now pricing in a nearly certain 25-bp Fed rate cut at the Oct. 28–29 meeting ^[21]. This dovish Fed stance (Fed Governor Waller confirmed he supports an October cut ^[22]) and ongoing U.S. political risks (e.g. government shutdown) have sent investors into gold. In fact, analysts like Fawad Razaqzada note gold “has been on a tear” as investors hedge long-stock positions ^[23], and OANDA’s Zain Vawda warns that if U.S.-China tensions worsen gold could hit ~$5,000/oz ^[24].

Newmont’s stock is benefiting from this perfect storm of factors. Technically, the chart is exceptionally strong – NEM cleared a golden crossover and trades well above key moving averages ^[25] ^[26]. Fundamentally, the company is healthy: it beat latest earnings, has low net debt, and the free cash flow to maintain dividends and buy back stock ^[27] ^[28]. Analysts have lifted estimates accordingly. Zacks notes 2025 EPS consensus is now about $5.50 (roughly +58% YOY), and Q3 EPS is expected to jump ~58% vs. a year ago ^[29].

Expert Commentary: Several strategists point to the gold-friendly environment. For example, Bank of America’s Michael Jalonen reiterated a Buy on NEM, lifting the price target to $115 ^[30]. Validea’s guru-scoring (reported on TS2.tech) gives NEM mixed marks – the Zweig Growth model scores NEM only 54%, citing weak long-term EPS growth and high debt ^[31] – but also notes recent earnings momentum. In practice, however, most analysts remain constructive: Goldman and BNP upgraded their views earlier this year, Stifel and CIBC rate NEM “strong buy”/“outperform” ^[32]. MarketBeat reports Newmont’s consensus target (~$86–88) still implies upside vs. today’s ~$90 price ^[33] ^[34], and firms like Raymond James are raising forecasts.

Market Outlook: The broader commodity context is highly supportive. Gold has “broken the $4,000 barrier” (Bloomberg) and analysts at Goldman Sachs and SocGen see more gains ahead ^[35]. In that scenario, large producers like Newmont typically outperform. Indeed, NEM’s 6-month gain (~61%) has outpaced both the S&P 500 and its gold-mining peers ^[36]. With interest rates poised to fall (the Fed’s neutral rate may head toward ~3%) ^[37] and inflation pressures easing, capital is likely to continue flowing into precious metals. Even as stocks pull back from recent highs (the S&P 500 dipped ~0.4% Oct. 15), gold and miners are holding up.

Analyst Forecasts: Looking ahead, many forecasts remain bullish. The majority of analysts have NEM rated buy or higher ^[38]. Bank of America’s new $115 target suggests ~20–25% upside ^[39]. Zacks (Nasdaq) notes Newmont’s forward P/E (~16.2×) trades at a discount to the industry ^[40], and with earnings set to grow, the stock could rerate higher. On the downside, some caution that gold’s parabolic move is very extended (RSI ~86 ^[41]) and any Fed hawkish surprise could sap momentum. However, near-term catalysts – including the Oct. 23 earnings report and ongoing trade headlines – lean positive.

Bottom Line: In summary, Newmont’s stock is flying high alongside gold. The company’s strong Q2 results, solid balance sheet, and accretive Newcrest acquisition underpin growth. Coupled with a record-breaking gold market and a dovish Fed, investors and analysts remain optimistic. “Soaring bullion prices should boost NEM’s profitability and cash flow,” notes Zacks, calling it a “prudent choice” for investors in this environment ^[42]. With technical indicators flashing buy and multiple price targets well above current levels, Newmont looks positioned for further gains in the coming months.

Sources: Latest market data and company releases; Reuters (Oct 2025) for gold and macro trends ^[43] ^[44]; Nasdaq/Zacks analysis ^[45] ^[46]; MarketBeat/Benzinga for analyst ratings and targets ^[47] ^[48]; TS2.tech guru scores ^[49]; Investing.com technicals ^[50]; GuruFocus summary of BofA ratings ^[51]; DividendMax for yield ^[52].

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Marcin Frąckiewicz Latest posts

CEO of TS2 Space and founder of TS2.tech. Expert in satellites, telecommunications, and emerging technologies, covering trends in space, AI, and connectivity.

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Newmont Stock Skyrockets as Gold Rally Hits Record Highs – Will the Boom Continue?

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