10:31 AM EDT, 09/10/2025 (MT Newswires) -- Newmont's ( NEM ) lagging share price presents a tactical buying opportunity as the company makes progress in its operational turnaround efforts amid rising gold prices, RBC Capital Markets said in a Tuesday research report.

The brokerage said it expects gold prices to exceed $4,000 per ounce in H2 2026. Meanwhile, Newmont ( NEM ) is delivering on its plan to divest non-core assets, generate free cash flow, and return excess capital to shareholders. The company is well-positioned to achieve these targets, the RBC analysts said.

RBC expects the gold mining company to record stable production in 2026 and 2027 and forecasts modest production growth upside of under 5% over 2028 and 2029.

While Newmont ( NEM ) has assessed the potential to advance its growth portfolio, including the Red Chris block cave project and potentially Yanacocha Sulphides and Wafi Golpu, the timing and capital for these projects are yet to be clearly defined. Updates in early 2026 could enhance visibility into the company's long-term growth, according to the note.

RBC upgraded Newmont ( NEM ) to outperform from sector perform and raised its price target to $95 per share from $66.

Newmont ( NEM ) shares rose 3% higher in recent trading.

Price: 78.07, Change: +2.15, Percent Change: +2.83