BUZZ-Newmont climbs after TD Cowen upgrades to 'buy'

Newmont Corporation

Newmont Corporation

NEM

0.00

** Shares of Newmont NEM.N rise 5.08% to $87.83 after TD Cowen upgrades to "buy" from "hold," saying a recent pullback in the gold miner's shares has created an attractive entry point

** Tuesday rise in gold prices also supporting the stock GOL/

** TD Cowen says Newmont can repurchase more than $5 billion of shares in 2026, supported by about $3.7 billion in net cash, ongoing free cash flow; NEM recently approved $6 billion share buyback

** Brokerage forecasts 2026 production of 5.39 million ounces of gold versus the company's view of 5.26 million ounces

** Trims price target to $127 from $129 to reflect updated commodity price assumption

** The new PT still represents a 36.4% upside to the stock's last close

** 21 of 24 brokerages rate the stock "buy" or higher and 3 "hold"; their median PT is $137 according to data compiled by LSEG

** NEM is down 2% so far this year


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.