• Citigroup maintains a "Buy" rating for Newmont Corporation (NYSE:NEM), raising its price target from $104 to $118, indicating confidence in the company's growth potential.
• Newmont is considered a top gold pick for 2026, trading at a 20-25% discount compared to peers, highlighting its undervaluation and strong growth prospects.
• The bullish outlook for gold, coupled with Newmont's projected 2026 price-to-earnings ratio of 14.1x and a price/earnings to growth ratio of 0.30x, positions it to outperform the sector.

Newmont Corporation (NYSE:NEM) is a leading gold mining company with a significant presence in the industry. It operates large-scale mining projects and is known for its efficiency and operational scale. As a major player in the gold sector, Newmont competes with other mining giants like Barrick Gold and AngloGold Ashanti.

On January 12, 2026, Citigroup maintained its "Buy" rating for Newmont, while the action remains as "hold." At that time, the stock price was $112.92. Citigroup also raised Newmont's price target from $104 to $118, as highlighted by TheFly. This reflects confidence in Newmont's potential for growth and value appreciation.

Newmont is identified as a top gold pick for 2026, with a strong buy rating. The company's operational scale and efficiency, along with its potential for a catch-up rally, make it an attractive investment. Currently, Newmont trades at a 20-25% discount compared to its peers, indicating its undervaluation despite strong growth prospects.

The bullish outlook for gold, driven by demand from central banks and geopolitical uncertainty, is expected to support Newmont's earnings growth. With a projected 2026 price-to-earnings ratio of 14.1x and a price/earnings to growth ratio of 0.30x, Newmont is well-positioned to outperform the sector.

Today, NEM is priced at $112.96, reflecting an increase of approximately 3.64% or $3.97. The stock has fluctuated between a low of $111.89 and a high of $113.715, marking its highest price over the past year. With a market capitalization of approximately $123.27 billion, Newmont remains a significant player in the gold mining industry.