Bullish Sentiment Builds as Analysts Revise Targets for Gold Giant Newmont

A potent mix of record-high gold prices, upwardly revised analyst targets, and significant institutional repositioning is fueling a rally in shares of Newmont Mining. The stock advanced robustly, gaining over 4% to trade at $98.22.

The foundation for the current optimism is a solid operational report. For the third quarter of 2025, Newmont posted revenue of $5.52 billion, a figure that not only surpassed the prior year's result by 20% but also exceeded market expectations of $5.14 billion. Earnings per share came in at $1.71, beating forecasts. Demonstrating further operational strength, the company raised its full-year gold production guidance to 5.9 million ounces.

This operational excellence is being magnified by the commodity's market performance. Gold has appreciated more than 60% in value this year, recently trading between $4,210 and $4,219 per ounce. Analysts point to interest rate cuts by the U.S. Federal Reserve, which lowered the key rate to a range of 3.50% to 3.75%, as a primary catalyst for the metal's surge. At these price levels, Newmont is operating with historically elevated margins, creating significant earnings leverage.

Financial Institutions Raise the Bar

In response to this favorable environment, several prominent financial institutions have reassessed their outlook for the mining company, resulting in substantially higher price objectives.

• UBS has taken the most aggressive stance, lifting its valuation from $105.50 to $125 per share.
• Both National Bankshares and Jefferies have established price targets of $120. Jefferies reiterated its buy recommendation alongside this target.

The consensus among researchers is that the combination of rising production and record commodity prices provides a clear path for further share price appreciation.

Should investors sell immediately? Or is it worth buying Newmont Mining?

Major Funds Execute Contrarian Moves

Behind the scenes, a notable reshuffling of positions among institutional investors is underway, revealing divergent strategies.

Notable purchasers in Q2 2025 included:
* Intact Investment Management, which aggressively expanded its holding by 1,173 percent.
* Jump Financial, increasing its stake by 371% to nearly 72,000 shares.
* Investment Management Corp of Ontario and AXA, which also reported net inflows.

Conversely, several funds opted to reduce exposure:
* Slate Path Capital trimmed its position by 370,000 shares.
* Kopernik Global Investors divested approximately 226,000 shares.
* Marshall Wace executed a more substantial sale of over 3.1 million shares.

This activity indicates a market where some funds are capitalizing on gains, while others are leveraging Newmont's current operational strength to build new, sizable positions. The prevailing market view appears to be that the company's fundamental earning power more than offsets the selling pressure from select institutional investors.