NEWMONT CORPORATION
In the published model solve dated 2026-Q2, anchored at $127.47, NEWMONT CORPORATION (NEM) is priced for -4.8% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 3, 2026 from SEC EDGAR filings.
Newmont is the largest gold miner, with revenue split between gold dore at about 63% and concentrate and other metals at 37%. The balance sheet tells the story of the moment: net cash of about $3.7 billion, a 50.8% operating margin, and a return on invested capital above 33%, all riding a record gold-price environment. At $103.80 (as of June 27, 2026) the price pays only about 9x company-wide operating income, a multiple so low it sits below what even a 5%-per-year operating-profit decline woul
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1,778 institutional managers reported holding NEM in 13F filings for the quarter ended 2026-03-31. Together they hold about 74% of the company; the top 10 hold 40%. 236 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 19.7M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (2.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
NEM's share count grew 35.5% over the past five years even with $5.83B spent on repurchases. It pays a dividend, and has paid one every year in our records (18 and counting); the current rate is $1.00 a share annually. Cash returned over the past three years: $3.31B in dividends and $5.44B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at NEM over the trailing three years: 2024: 1 buy totaling $400k. 23 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
NEM's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-21 | -4.4% | -5.7% |
| 2023-10-27 | +6.0% | +6.2% |
| 2024-03-01 | -6.4% | +27.3% |
| 2024-04-30 | -1.6% | +2.6% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
NEM's latest 8-K filings: 2026-08-20 (items 5.02); 2026-08-13 (items 1.01, 7.01, 9.01); 2026-07-23 (items 2.02, 9.01); 2026-06-15 (items 5.02, 7.01, 9.01); 2026-05-13 (items 5.07).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 3, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.