Newmont Corporation faces lowered earnings forecasts amid bullish technical trends

Newmont Corporation (NEM) is seeing shifts in analyst expectations and technical market interest. Zacks Research has lowered its Q3 2026 earnings per share (EPS) estimate for the company to $1.92, down from a previous forecast of $2.19.

Recent financial performance for the company included a Q2 earnings per share of $2.10, which exceeded consensus estimates, though revenue of $6.12 billion fell below expectations. The company reported a record Q2 free cash flow of $2.2 billion, driven by high gold prices, despite rising unit costs and operational disruptions at Cadia.

Technical analysis suggests a potential bullish pattern for the stock. Following a recent 20% weekly gain, analysts are watching for a breakout above the $118-$120 range, which could lead to a challenge of the $131-$135 all-time high region. Various brokerage firms have issued updated price targets and ratings, with the consensus rating currently sitting at a "Moderate Buy."