Newmont reported Q1 revenue of $7.31 billion, beating estimates, and authorized a $6 billion share buyback program.
Newmont Corporation (NEM) saw its price target raised to $145 from $140 by BMO Capital, which maintained an Outperform rating. The adjustment follows a robust first quarter, with revenue reaching $7.31 billion, surpassing consensus estimates of $6.44 billion.
The company produced 1.3 million attributable gold ounces, alongside 9 million ounces of silver and 30 thousand tons of copper. Newmont generated a record $3.1 billion in quarterly free cash flow and remains on track to meet its 2026 guidance targets.
Management expanded its share repurchase program by $6 billion, signaling confidence in sustained operational performance and growth prospects.