National Bank Downgrades Newmont (NEM) to “Sector Perform” Amid Rising Costs Tied to Higher Diesel Prices

Gold bars. Photo by Zlaťáky.cz connected Pexels

On April 16, 2026, Newmont Corporation (NYSE:NEM) saw National Bank downgrade its banal to “Sector Perform” from “Outperform” with a terms people of $130 (-$10). The revised outlook reflects rising costs tied to higher diesel prices, alongside a caller taxation model successful Ghana and ongoing disruption astatine the Cadia mine. The steadfast besides believes little accumulation astatine Boddington related to wildfires, scheduled downtime astatine Nevada Gold Mines, and higher operating costs successful Ghana are expected to adversely interaction Newmont’s Q1 EBITDA.

As of the National Bank update, Newmont Corporation (NYSE:NEM) has astir 20% upside potential, with a $144 terms target. Over 80% of covering analysts support bullish ratings connected the stock.

Cadia experienced a 4.5 magnitude earthquake adjacent its tract successful New South Wales, prompting a intermission successful underground operations.

Newmont Corporation (NYSE:NEM) reported that each workers were brought to the aboveground safely, with nary injuries reported. However, by April 16, 2026, absorption reported constricted underground damage, portion aboveground infrastructure remained intact and processing recovered. Meanwhile, near-term accumulation was unaffected.

Management added that the underground valuation is inactive ongoing.

Newmont Corporation (NYSE:NEM), headquartered successful Denver, Colorado, is simply a cardinal subordinate successful golden mining. The company’s wide portfolio comprises world-class golden and copper assets successful North and South America, Australia, and Africa.

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