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Newmont Corporation (NYSE:NEM) is one of the Cheap NYSE Stocks to Buy Now. On December 7, Fahad Tariq from Jefferies reiterated a Buy rating on the stock with a price target of $120. Earlier, on December 1, Daniel Major from UBS raised the price target on Newmont Corporation (NYSE:NEM) from $105.5 to $125, while maintaining a Buy rating.
Tariq from Jefferies noted that they remain bullish on gold equities due to the attractive valuation. However, he remains cautious on silver equities, again due to valuation concerns heading into 2026. The analyst anticipates gold prices to remain elevated in 2026, thereby allowing gold equities to generate more free cash flow and expand margins.
Analyst Daniel Major from UBS also has similar views regarding gold prices. He also anticipates gold prices to continue rising in 2026, driven by broad-based private sector demand. He sees continued buying from central banks and investors throughout the year.
That said, Newmont Corporation (NYSE:NEM) delivered strong results in fiscal Q3 2025. The company delivered $5.52 billion in revenue, reflecting a 19.96% year-over-year increase and surpassing estimates by $251.31 million. The EPS of $1.71 also topped estimates by $0.27. The company produced 1.4 million gold ounces during the quarter, along with 35 thousand tones of copper. Taking confidence from the performance, management also raised the full-year production guidance of gold from 5.6 Moz to 5.9 Moz.
Newmont Corporation (NYSE:NEM) explores and acquires gold properties containing copper, silver, lead, zinc, or other metals. Its operations are divided into the following geographical segments: Canada, Mexico, Suriname, Argentina, Peru, Australia, Papua New Guinea, Ghana, and the US.
While we acknowledge the potential of NEM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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