TGM's two-stage DCF values Newmont Corporation (NEM) between $46.57 and $88.95 depending on assumptions, with a base case of $62.88. Growth is taken from the company's own record (5-year revenue CAGR (FCF growth too volatile to use)), fading to 2.5% long-run; the discount rate (7.5%) reflects its beta.
What would today's price require?
$128.46 is justified only if free cash flow grows about +31.2% a year (fading to 2.5% long-run) at a 7.5% required return — faster than the company has actually grown.
| Scenario | FCF growth (fading to 2.5%) | Discount | Value / share |
|---|---|---|---|
| Conservative | 9.7%/yr | 8.5% | $46.57 |
| Base case | 12.7%/yr | 7.5% | $62.88 |
| Optimistic | 15.7%/yr | 6.5% | $88.95 |
| Third-party model estimate (FMP) | independent reference · retrieved Sep 8, 2026 · assumptions not provided | $186.95 | |
The FMP figure is a third-party point estimate. Its cash-flow forecast, discount rate, terminal growth, and valuation date are not included in the stored response, so TGMCharts presents it only as a reference—not as an intrinsic-value conclusion or price target.
Current Price
$128.46
Market-Implied Growth
+31.2%/yr
vs +12.7% 5Y actual
Model Scenario Range
$46.57 – $88.95
model output — not a price target
Edit the assumptions to see how they change the estimated fair value. Opens seeded with TGM's data-driven base case for NEM (growth from its own 5-year record, discount from its beta), so the sandbox starts where the scenarios above leave off. Illustrative model — not investment advice.
Base inputs: FCF $2.0B · 1.05B shares · net cash $2.4B
Estimated Fair Value
$62.88
-51.0% vs $128.46
How the estimated fair value shifts with the discount rate (WACC) and terminal growth, holding your 12.7%/yr FCF growth and 10-year horizon fixed. Green = above today's $128.46; red = below. Your current case is outlined.
| WACC ↓ / Terminal → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|---|---|---|---|---|
| 5.5% | $81.57 | $91.70 | $105 | $124 | $152 |
| 6.5% | $65.07 | $71.15 | $78.73 | $88.48 | $101 |
| 7.5% | $54.10 | $58.09 | $62.88 | $68.73 | $76.04 |
| 8.5% | $46.28 | $49.08 | $52.34 | $56.18 | $60.80 |
| 9.5% | $40.43 | $42.48 | $44.82 | $47.52 | $50.66 |
