Newmont Corporation (NEM)

Hold Recap: Q1 2026

A Record Quarter and a Doubled Buyback, With Gold at $4,900: A Superb Business at the Wrong Price, Maintaining Hold

Hold Recap: Q4 2025

A Record Year, an Enhanced Capital Framework, and a Trough Year Ahead: Taking the Gain and Downgrading Newmont to Hold

Outperform Recap: Q3 2025

Record Cash, Improved Cost Guidance, and a Sell-the-News Tape: Upgrading Newmont to Outperform

Hold Recap: Q2 2025

Record Free Cash Flow and a Doubled Buyback, But the Windfall Rides the Gold Price: Initiating Newmont at Hold