What changed
$NEM — WATCHLIST 📊 | 6 MONTHS THESIS
🎯 Q1 2026 | Rev $7.3B | EPS $2.90 vs $2.17 🟢
💡 Consensus already expects elevated gold prices to persist; the earnings beat was likely anticipated. My variant view is that the beat was driven by temporarily high gold prices and may not be repeatable at the same magnitude, but the market is pricing continued strength.
📉 Reward/risk: 1.2:1
🏢 Business Quality: 8 — Newmont is a low-cost, well-managed gold producer with strong assets and a record of operational excellence./10
📊 Valuation: fair — P/CF ~9x on annualized Q1 FCF, ~3.9x sales, in line with historical averages.
🔮 Catalyst: Next quarterly earnings report (est. late July / early August 2026)
💰 Entry: $94.04, stop $85, target $105
📊 Our read: WATCHLIST. Full analysis →
https://stockduty.xyz/s/NEM0625