UBS lifts Newmont target to $155 after Fourmile overhang clears

On 16 September 2026, UBS Securities raised its 12-month price target for Newmont U.S. shares to $155.00 from a previous target of $120.00, while reiterating a Buy rating. The bank also set a price target of 210.00 Australian dollars for Newmont shares listed on the ASX.

UBS stated that the market continues to underappreciate the resolution of the Fourmile overhang. Following an August 2026 settlement, Newmont agreed to pay 1.95 billion dollars in net cash consideration to Barrick Mining to integrate assets into their Nevada Gold Mines joint venture.

Under the expanded structure, Newmont maintains a 38.5% ownership interest in Nevada Gold Mines, while Barrick retains 61.5%. Following the agreement, Newmont shares outperformed Barrick by 12% and outperformed the broader GDX index by up to 5%.