Newmont(US:NEM)2026-02-10 03:24Summary of Australian Lithium & Gold Coverage Industry Overview - The report focuses on the Australian lithium and gold sectors, providing coverage summaries, forecasts, and spot pricing scenarios as of February 6, 2026 Key Companies and Ratings - Buy Recommendations: NST, NEM, CMM, BGL, RMS, WGX, PNR, WA1 [4] - Sell Recommendations: PLS, LTR, MIN, EVN [4] Company-Specific Insights - IGO: Neutral rating, Nickel/Lithium, Market cap: US$4.3 billion, Current price: A$8.21, Downside: 15%, NAV: A$5.28, NTM EV/EBITDA: 12.4x [4] - PLS: Sell rating, Spodumene Lithium/Specialties, Market cap: US$9.2 billion, Current price: A$4.10, Downside: 27%, NAV: A$2.68, NTM EV/EBITDA: 14.4x [4] - LTR: Sell rating, Spodumene, Market cap: US$3.6 billion, Current price: A$1.64, Downside: 11%, NAV: A$1.07, NTM EV/EBITDA: 19.8x [4] - MIN: Sell rating, Fe/Li/Crushing, Market cap: US$7.2 billion, Current price: A$52.43, Downside: 14%, NAV: A$37.40, NTM EV/EBITDA: 6.9x [4] - NST: Buy rating, Gold, Market cap: US$26.4 billion, Current price: A$26.57, Upside: 19%, NAV: A$30.14, NTM EV/EBITDA: 7.1x [4] - EVN: Sell rating, Gold/Copper, Market cap: US$20.0 billion, Current price: A$14.18, Downside: 10%, NAV: A$12.28, NTM EV/EBITDA: 7.5x [4] - NEM: Buy rating, Gold, Market cap: US$118.4 billion, Current price: A$154.72, Upside: 20%, NAV: A$172.72, NTM EV/EBITDA: 6.0x [4] - CMM: Buy rating, Gold, Market cap: US$4.2 billion, Current price: A$13.11, Upside: 34%, NAV: A$16.50, NTM EV/EBITDA: 9.7x [4] - BGL: Buy rating, Gold, Market cap: US$1.8 billion, Current price: A$1.65, Upside: 21%, NAV: A$1.98, NTM EV/EBITDA: 4.9x [4] - RMS: Buy rating, Gold, Market cap: US$5.9 billion, Current price: A$4.29, Upside: 25%, NAV: A$5.19, NTM EV/EBITDA: 9.8x [4] - WGX: Buy rating, Gold, Market cap: US$4.5 billion, Current price: A$6.76, Upside: 37%, NAV: A$8.85, NTM EV/EBITDA: 4.4x [4] - PNR: Buy rating, Gold, Market cap: US$1.3 billion, Current price: A$4.51, Upside: 67%, NAV: A$6.60, NTM EV/EBITDA: 3.1x [4] - WA1: Buy rating, Niobium, Market cap: US$0.8 billion, Current price: A$15.53, Upside: 69%, NAV: A$30.04 [4] Valuation Metrics - NAV Valuation: Companies have varying NAVs, with NST having the highest at A$30.14 and PLS the lowest at A$2.68 [4] - NTM EV/EBITDA Multiples: Ranges from 3.1x (PNR) to 19.8x (LTR), indicating differing market expectations and valuations across companies [4] Commodity Price Forecasts - Lithium Carbonate (China): Estimated at US$18,366 per ton, down 24% from spot [8] - Lithium Hydroxide (China): Estimated at US$17,856 per ton, down 24% from spot [8] - Spodumene 6%: Estimated at US$2,015 per ton, down 45% from spot [8] - Gold: Estimated at US$4,778 per ounce, down 20% from spot [8] - Copper: Estimated at US$5.88 per pound, down 11% from spot [8] Additional Insights - The report highlights potential conflicts of interest due to Goldman Sachs' business relationships with covered companies [2] - Analysts emphasize the importance of considering this report as one of several factors in investment decisions [2] - The report includes a detailed analysis of market cap, price targets, and upside/downside potential for each company [4] This summary encapsulates the key points from the Australian Lithium & Gold Coverage report, providing insights into company ratings, valuations, and commodity forecasts.