What Does Ahafo North’s Commercial Launch Mean for Newmont’s (NEM) Long-Term Growth Ambitions?

• Newmont Corporation recently reported stronger-than-expected third quarter results for 2025, driven by higher revenues, improved profitability, and operational breakthroughs including the declaration of commercial production at the Ahafo North project in Ghana.
• The launch of Ahafo North marks one of West Africa's most significant mining developments in recent years and underscores Newmont's expanding production capacity and long-term presence in key gold-rich regions.
• We will explore how the commencement of commercial production at Ahafo North may reshape Newmont's investment narrative and future growth outlook.

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Newmont Investment Narrative Recap

To be a shareholder in Newmont, you need to believe in the enduring global demand for gold, the company’s disciplined expansion, and its ability to maintain operational efficiency even as mine sequencing and grade variations pose challenges. The commencement of commercial production at Ahafo North strengthens Newmont’s growth platform but does not materially change the most important near-term catalyst, which remains gold price momentum, nor does it eliminate ongoing risks tied to mine output variability and project sequencing.

Among recent announcements, Newmont’s updated 2026 gold production guidance stands out. The company expects next year’s attributable production range to be similar to 2025, but leaning toward the lower end due to scheduled mine sequencing, which highlights why investor attention is fixed on whether new assets like Ahafo North can offset planned declines elsewhere or if cost and productivity improvements can prevent downward pressure on future earnings.

Yet, despite the new capacity coming online, investors should also consider the risks arising if mine sequence headwinds persist and gold output lags targets...

Read the full narrative on Newmont (it's free!)

Newmont's narrative projects $21.6 billion in revenue and $6.4 billion in earnings by 2028. This requires 1.6% yearly revenue growth and an increase of $0.2 billion in earnings from the current $6.2 billion.

Uncover how Newmont's forecasts yield a $100.96 fair value, a 21% upside to its current price.

Exploring Other Perspectives

Twelve fair value estimates from the Simply Wall St Community span a wide range from US$40.60 to US$128.41 per share, reflecting significant differences in individual outlooks. While some are focused on gold’s potential to support long-term revenue, others are watching asset optimization and mine sequencing challenges that could impact results; take a closer look at how these views shape future expectations.

Explore 12 other fair value estimates on Newmont - why the stock might be worth less than half the current price!

Build Your Own Newmont Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Newmont research is our analysis highlighting 4 key rewards that could impact your investment decision.
• Our free Newmont research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Newmont's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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