Newmont Shares Rise After Analysts Lift Price Targets Despite Reserve Drop
Newmont’s shares rallied after several analysts raised price targets, a move that outweighed news that attributable gold mineral reserves declined to 118.2 million ounces by end-2025 from 134.1 million ounces a year earlier. The reserve drop was largely driven by asset divestments the company executed over the period, but investors appeared focused on the bigger-picture outlook reflected in fresh analyst optimism.
The company still holds meaningful non-gold assets — 12.5 million tonnes of copper and 442 million ounces of silver — which provide diversified exposure to industrial metals and precious metals markets. For market participants, the episode highlights how portfolio optimization and metal mix can matter as much as headline reserve metrics; it may also influence sentiment in commodity-linked and tokenized metals markets where investor flows follow broader risk and price expectations.