Newmont's Rating Lowered to Hold by National Bank Financial

Analysts downgrade the gold mining company's stock from 'strong-buy' to 'hold'.

Apr. 18, 2026 at 11:22am

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A dramatic, high-contrast close-up of heavy, rugged mining machinery and equipment, conveying the industrial might and physical scale of Newmont's gold mining operations.An extreme close-up of Newmont's industrial mining equipment highlights the company's focus on large-scale, capital-intensive gold production.Greenwood Village Today

Newmont Corporation (NYSE: NEM), a leading global gold mining company, has been downgraded by analysts at National Bank Financial from a 'strong-buy' rating to a 'hold' rating in a research report issued on Thursday. The downgrade comes as several other equity research firms have recently adjusted their price targets and ratings for Newmont.

Why it matters

Newmont is one of the world's largest gold producers, so changes to its stock rating can impact investor sentiment and the broader gold mining industry. The downgrade suggests analysts see fewer near-term growth opportunities for the company compared to its peers.

The details

In the research report, National Bank Financial cited a number of factors for the rating change, including Newmont's current valuation and the firm's outlook for the company's future performance. Other analysts have maintained buy ratings on Newmont's stock, with price targets ranging from $122.30 to $175.00.

  • The rating downgrade was issued on Thursday, April 18, 2026.

The players

Newmont Corporation

A leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. Newmont is headquartered in Greenwood Village, Colorado and was founded in 1921.

National Bank Financial

A Canadian investment bank and financial services firm that provides research coverage and ratings for various public companies, including Newmont.

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The takeaway

The downgrade of Newmont's stock by National Bank Financial reflects a more cautious outlook on the company's near-term growth prospects compared to some of its peers in the gold mining industry. Investors will be closely watching to see if other analysts follow suit or maintain their more bullish stances on Newmont.