Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.75, read 2026-11-03
Ethical passes the values gate
Price107.47 USD
Fair value112.45
Ethical score90.0/100
Value readFairas of 3 Nov 2026
Our investment reviews on this name
2026-10-22Read Markdown115.79-7.2% to today ✓Distribution gives way to Markdown first Markdown read since October
2026-10-20Read Distribution115.79-7.2% to today ✓Markdown gives way to Distribution
2026-10-11Read Markdown121.43-11.5% to today ✓Distribution gives way to Markdown with results news in the headlines
2026-10-02Read Distribution121.43-11.5% to today ✓Markup gives way to Distribution first Distribution read since July
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Newmont holds its Distribution at $107.47. Consolidating, no directional conviction, held for 4 days.
As held on the ledger · 2026-11-03
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 4 days
Price at the screen
$107.47
Valuation
12.97 trailing · 11.13 forward price to earnings
Values screen
PASS· score 90.0
Beta
0.53
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
9.78%
Below 33%
Interest-bearing debt is just 9.8% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.30%
Below 33%
Cash held in interest-bearing accounts and securities is 0.3% of assets, under the one-third limit.
Pass
Receivables
15.26%
Below 49%
Money owed to the company is 15.3% of assets, under the 49% limit.
Pass
Revenue purity
0.94%
Below 5%
Only 0.9% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Newmont clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 10%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-11-04. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when NEM's ethical verdict changes
Today NEM passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Fair vs our fair value, as of 3 Nov 2026: it trades at roughly a 4% discount to our $112.45 fair value, strong competitive moat, 15.20% revenue growth.
Fair value range in USD, drawn from the 2026-11-03 screen. The gold marker is the market price at the same screen. A 4.4% discount to the base estimate.
Where our models see it going: fair-value estimate $112.45, with a range of $63.68 to $129.32, dated to the 2026-11-03 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Why it is worth knowing
A quality business: a strong moat and 35% profit margins. It trades close to our $112.45 fair value, so the easy discount is gone; you would be paying up for the quality.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
NEM trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-29Markdown$113.92-1.6%Entry 22
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.6% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 79%. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (21 analysts) rates it buy, with a mean price target of $136.
2026-10-22Markdown · changed$115.79+0.0%Entry 21
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 79%. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (21 analysts) rates it buy, with a mean price target of $137. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Distribution$115.79+0.0%Entry 20
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 79%. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (21 analysts) rates it buy, with a mean price target of $137. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 79%. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (21 analysts) rates it buy, with a mean price target of $137. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-19Markdown$115.79+0.0%Entry 18
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 79%. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (21 analysts) rates it buy, with a mean price target of $137. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Markdown$115.79+0.0%Entry 17
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 79%. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (21 analysts) rates it buy, with a mean price target of $137. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-17Markdown$115.79+0.0%Entry 16
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 79%. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (21 analysts) rates it buy, with a mean price target of $137. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-16Markdown$115.79-1.7%Entry 15
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.7% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 79%. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (21 analysts) rates it buy, with a mean price target of $137. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-15Markdown$117.84-3.0%Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 79%. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (21 analysts) rates it buy, with a mean price target of $137. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-11Markdown · changed$121.43+0.0%Entry 13
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 79%. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (21 analysts) rates it buy, with a mean price target of $137.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
