Feb. 23, 2026 1:39 AM ETNewmont Corporation (NEM) StockGLD, IAU, AU, B, ABX:CAKenio Fontes2.02K FollowersCommentsNewmont is closely tied to gold prices, with current sentiment and valuation reflecting widespread enthusiasm for gold exposure.NEM's 2026 guidance implies robust margins and ~$9.85B in FCF at $4,500/oz gold, but valuation multiples are elevated versus history and peers.Reserve life stands at ~22 years, limiting long-term terminal value and making future cash flows highly dependent on ongoing reserve replacement.I assign a Sell rating to NEM, as current multiples price in optimistic gold scenarios, leaving little margin for error if gold prices or production disappoint.