Bank of America Slightly Lowers its Price Target on Newmont Corporation (NEM) to $134 While Maintaining a Buy Rating

Newmont Corporation (NYSE:NEM) is included among the 11 Best Mining Stocks to Buy According to Wall Street.

On February 9, 2026, Bank of America slightly lowered its price target on Newmont Corporation (NYSE:NEM) to $134 from $135 while maintaining a Buy rating. The firm said that the adjustment followed the updates to its model reflecting Newmont Corporation’s newly issued three-year guidance, as well as the revised year-end 2025 reserves and resources from Barrick Mining.

Earlier in the month, analyst sentiment leaned more bullish. On February 4, 2026, CIBC raised its price target on Newmont Corporation (NYSE:NEM) to $177 from $112 previously and reiterated an Outperformer rating. The move came as CIBC lifted targets across its precious metals coverage after raising its gold price forecast to $6,000 per ounce in 2026 and $6,500 in 2027, while also increasing copper assumptions. The firm said that the demand drivers that supported the sector in 2025 remain intact heading into 2026, with heightened geopolitical uncertainty adding further support for precious metals prices.

Newmont Corporation (NYSE:NEM) engages in the production and exploration of gold properties. NEM is one of the world’s largest gold producers, with a diversified portfolio of mining operations and development assets across North America, Latin America, Australia, Africa, and Asia-Pacific, alongside exposure to copper, silver, zinc, lead, and other metals.

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