CIBC Maintains Outperformer Rating on Newmont (NEM)

Published on April 23, 2026 at 4:47 pm by Jeff Lewis in News

Newmont Corporation (NYSE:NEM) is one of the 8 Best Counter Cyclical Stocks to Buy Right Now.

On April 21, 2026, CIBC analyst Anita Soni lowered the price target on Newmont Corporation (NYSE:NEM) to $176 from $177 previously and maintained an Outperformer rating on the shares. The update comes as part of a Q1 preview across the gold and base metals group. Anita Soni said the roughly 20% selloff in gold from its January high, along with the “flip-flop” in Federal Reserve funds expectations, could “support a bounce in the asset’s price,” adding that current levels present a more attractive entry point. CIBC also adopted a more constructive stance on base metal equities, pointing to supply constraints as a source of ongoing tailwinds.

Meanwhile, National Bank downgraded Newmont Corporation (NYSE:NEM) to Sector Perform from Outperform with a price target of $130, down from $140 previously. The firm cited rising costs from higher diesel prices, a new tax framework in Ghana, and an operations pause at the Cadia mine. It also expects Q1 EBITDA to be affected by lower production at Boddington due to bushfires, scheduled downtime at Nevada Gold Mines, and higher operating costs in Ghana.