Newmont Corporation (NEM)

FairStock Score: 87/100 — HIGH CONVICTION

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Newmont as a gold miner first, and that means commodity prices shape results more than any brand or patent. Its edge, if any, is geographic scale, but gold is a commodity, so it has little pricing power. Still, the filed record shows real improvement. In fiscal Q3 2026, the quarter ended 2026-09-30, revenue was $6.4B, net income $2.5B, and diluted EPS $2.35; a year earlier, fiscal Q3 2025 had revenue $5.5B, net income $1.8B, and diluted EPS $1.67. Fiscal 2025 revenue was $22.7B with net income of $7.1B and diluted EPS $6.39, up from fiscal 2024 revenue of $18.7B and net income of $3.3B, after a fiscal 2023 net loss of $2.5B. FairStock accordingly classifies it as a TURNAROUND—returned to profit after a loss within the last three years. Financial health looks solid: FairStock shows debt-to-equity 0.16, Piotroski 8/9, Altman 3.65, and trailing FCF $10.1B, an 8.8% FCF yield. Returns are good, with FairStock ROE 25.91% and ROCE 15.75%. The issue is price. At the 2026-10-26 close of $110.39, FairStock shows P/E 13.90, P/B 3.32, PEG 2.00, EV/EBITDA 6.58, and a Graham Number of $77.91, implying a negative margin of safety of -39.74%. I see a much-improved operator with low leverage and strong cash generation, but not a bargain by conservative value measures; commodity-cycle risk remains central.

In plain English: The company mines gold and other metals in many countries. Business looks strong: recent sales and profit are up, it is generating a lot of cash, and debt is low. At the recent price, the shares look expensive compared with a conservative value estimate, so they do not look cheap.

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Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-09-30) · fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer