topstockalerts
Oct 22, 8:44 PM
Freedom Broker downgraded gold miner Newmont to Hold from Buy and cut its price target to
$116 from
$130, signaling limited near-term upside. Analyst Vitaly Kononov cited an unfavorable balance between earnings growth, execution risk and valuation potential compared with major gold producers. Rising costs across Newmont’s Australian portfolio and performance risks at its Lihir and Cadia mines are key concerns for its 2027 EBITDA outlook.
The downgrade was part of a broader reassessment of North American gold miners, with Freedom Broker also cutting ratings on Agnico Eagle Mines and Barrick Mining amid lower near-term EBITDA forecasts, persistent operational risks and valuation constraints.
Newmont was scheduled to report quarterly earnings after Thursday’s market close. Wall Street expected EPS of
$1.96 and revenue of
$6.01 billion, while Freedom Broker forecast
$6.44 billion in revenue,
$3.96 billion in adjusted EBITDA and adjusted EPS of
$2.25.
$NEM $B $GC_F
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