Newmont Price Target Raised to $177 as Gold Forecast Climbs
On February 4, CIBC raised its price target on Newmont Corporation to $177 from $112 and maintained an Outperform rating, reflecting expectations of stronger metals prices. The firm lifted its 2026 gold forecast to $6,000 per ounce and $6,500 for 2027 while increasing copper assumptions.
1. CIBC Upgrade Details
On February 4, CIBC raised Newmont’s price target from $112 to $177 and reiterated an Outperform rating, signaling confidence in the company’s future cash flow potential amid stronger commodity pricing.
2. Analyst Consensus Growth
In the past two weeks, UBS increased its target to $160 from $125 and Scotiabank boosted its target to $152 from $114, as analysts across the sector revised forecasts higher for precious metals.
3. Commodity Price Forecasts
CIBC advanced its gold price outlook to $6,000 per ounce for 2026 and $6,500 for 2027, and increased copper assumptions, citing persistent demand drivers seen in 2025 such as central bank buying and geopolitical uncertainty.
4. Valuation and Market Impact
The wave of analyst upgrades and higher metal price assumptions may enhance Newmont’s valuation and investor sentiment, leveraging its diversified exposure to gold, copper and other base metals.