Newmont Is Still Mispriced After A Strong Q2 2026

The Curious Analyst 5K Followers Follow Summary I reiterate Newmont Corporation as a Strong Buy with a $142 price target, implying a 52% upside from $93. The main growth drivers are the H2 production ramp, supportive copper and silver economics, and a development pipeline that could eventually contribute around $775 million of annual EBITDA. My valuation applies an 8x FWD EV/EBITDA multiple to an estimated 2026 adjusted EBITDA of about $18.2 billion, producing a price target of $142 per share. The main risks are lower gold prices, higher costs, and project execution delays, but Newmont’s $3.4 billion net cash position and strong cash generation provide a meaningful cushion. Igor Barilo/iStock via Getty Images Investment Thesis I am reiterating my Strong Buy rating on Newmont Corporation ( NEM ) following its Q2 2026 results . My price target is $142, which represents an upside potential of 52% from the current level of $93 This article was written by The Curious Analyst 5K Followers Follow My background is in Financial Engineering and I have long since been interested in analyzing strong solid companies with a rare financial Profile. My primary area of specialization is in quantamental analysis, where I use a combination of data driven models and fundamental research. My approach is centered on a structured process that combines top-down screening with bottom-up company specific analysis .I write on to share ideas with a wider audience and also learn more about companies and other analysts. My goal is to make unique ideas & research accessible to retail and professional investors alike, while maintaining analytical depth and a clear investment thesis.Associated with another author Kennedy Njagi Analyst’s Disclosure: I/we have a beneficial long position in the shares of NEM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.