Freedom Broker Cuts Newmont (NEM) Price Target to $116

Freedom Broker lowered its price target on Newmont Corporation (NYSE: NEM) to $116 from $130 on October 22, 2026, while assigning a Hold rating to the shares. The update was shared in a research note issued on the day of the rating change. Newmont closed at $114.11 on October 22, 2026.

NEM Newmont Corporation

$117.18 ▲ +16.52% year to date

1M 3M YTD

Daily close · Oct 21, 2026

Freedom Broker's Call on Newmont Corporation

In its October 22, 2026 research note, Freedom Broker adjusted its outlook for the gold producer by taking the target down to $116 from $130 and setting a Hold rating. The new target sits close to where the shares recently traded.

Other Institutional Activity in Newmont Corporation

Large financial institutions continue to adjust their positions in Newmont. Van Eck Associates Corporation reduced its holdings by 3,884,291 shares, ending with 32,114,698 shares worth about $3.66 billion. Meanwhile, Bank Of New York Mellon Corporation grew its holdings by 818,727 shares, ending with 13,056,801 shares worth about $1.49 billion.

Newmont Corporation Stock Down 2.4%

Newmont shares recently traded around $113.96 as of October 22, 2026, staying roughly level with the event-day close of $114.11. The stock trades below its 50-day moving average of $121.85 and above its 200-day moving average of $112.43. The share price sits 15.8% below its 52-week high of $135.29 and 49.8% above its 52-week low of $76.05.

Recent Earnings

Newmont posted trailing twelve-month revenue of $25.77 billion and basic earnings of $7.93 per share. The business recorded a net profit margin of 33.4% and a return on equity of 25.9%.

Dividend

Newmont pays an annual dividend rate of $1.04 per share, translating to a dividend yield of 0.89% based on recent trading levels. The dividend payout ratio stands at 12.9%.

Insider Buying and Selling at Newmont Corporation

Executive leadership at Newmont completed several stock sales prior to the recent analyst update. Chief Executive Officer Natascha Viljoen sold 7,764 shares on August 5, 2026, at an average price of $104.00 for a total value of $807,456, and later sold 3,882 shares on September 1, 2026, at $123.00 per share totaling $477,486. Chief Financial Officer Brian Tabolt sold 11,445 shares on August 5, 2026, at $105.09 per share for a total value of $1,202,755. Officer Peter Toth sold 3,000 shares on September 1, 2026, at $123.00 per share for a total value of $369,000.

Analysts Set New Price Targets

Wall Street firms maintain varied stances on Newmont. Bernstein maintained an Outperform rating with a $144.00 price target on September 9, 2026. RBC Capital maintained an Outperform rating and raised its target from $135.00 to $155.00 on September 16, 2026. Barclays maintained an Overweight rating with a target of $123.00 on October 19, 2026, while Citigroup maintained a Buy rating and lifted its target to $140.00 from $125.00 on October 20, 2026. Across the broader analyst community, the stock holds a consensus Buy recommendation backed by 21 analyst opinions and a mean price target of $136.62.

About Newmont Corporation

Headquartered in Denver, Colorado, Newmont Corporation operates as a primary gold producer while also exploring for copper, silver, lead, zinc, and other metals. The company manages mining operations and assets across the United States, Australia, Ghana, Canada, and several other countries around the world. Founded in 1916, the firm relies on a diverse global portfolio to supply industrial metals.

Bottom Line

Freedom Broker's lower target reflects a more cautious stance on Newmont as shares trade near the $114 mark. Investors will look to upcoming operational updates and broader metal price trends for further direction on the stock.