Newmont (NYSE:NEM) Announces Earnings Results, Beats Estimates By $0.26 EPS

Newmont (NYSE:NEM) announced its earnings results on Thursday. The basic materials company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.26, FiscalAI reports. The company had revenue of $6.36 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Newmont had a return on equity of 29.10% and a net margin of 33.36%. Newmont’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the firm earned $1.71 EPS.

Here are the key takeaways from Newmont’s conference call:

• Strong third-quarter financial performance: Newmont generated $1.9 billion in free cash flow, reported adjusted earnings of $2.20 per share, and returned approximately $1.9 billion to shareholders through dividends and share repurchases.
• The company improved its 2026 gold all-in sustaining cost outlook to approximately $1,520 per ounce, about 10% below its initial guidance, while remaining on track for full-year production and capital targets.
• Newmont expects production to grow by a low- to mid-single-digit percentage in 2027, supported by higher grades at Lihir and Boddington, the Tanami expansion, Cerro Negro’s Vine Zone, and additional Yanacocha ounces.
• The Red Chris block-cave project is advancing toward a potential early-2027 investment decision, with expected annual production of 275,000–325,000 ounces of gold and 65,000–85,000 tons of copper after ramp-up.
• Red Chris requires estimated development capital of $4.2 billion–$4.8 billion, while 2027 development spending is expected to rise by about $500 million; Newmont also warned that 2027 unit costs may increase due to inflation, lower silver by-product credits, and other macroeconomic pressures.

Newmont Price Performance

NEM stock traded down $3.55 during trading on Thursday, reaching $113.63. The company’s stock had a trading volume of 9,667,765 shares, compared to its average volume of 8,526,616. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. The company’s fifty day moving average is $122.05 and its 200-day moving average is $111.00. The company has a market capitalization of $119.73 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 2.16 and a beta of 0.51. Newmont has a 1 year low of $76.05 and a 1 year high of $135.29.

Insider Activity

In related news, CFO Brian Tabolt sold 11,445 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total transaction of $1,202,755.05. Following the completion of the sale, the chief financial officer owned 29,324 shares in the company, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $114.81, for a total value of $344,430.00. Following the sale, the executive vice president directly owned 34,315 shares in the company, valued at $3,939,705.15. This trade represents a 8.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 35,973 shares of company stock worth $3,927,169 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NEM shares. Canaccord Genuity Group reduced their price target on Newmont from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. TD Securities raised Newmont from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Wall Street Zen cut Newmont from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. The Goldman Sachs Group cut their price objective on Newmont from $122.50 to $111.40 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Finally, Royal Bank Of Canada boosted their price objective on Newmont from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $134.06.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont reported third-quarter adjusted EPS of $2.20, above the $1.96 consensus estimate, while revenue of $6.36 billion exceeded expectations of $6.26 billion. The company benefited from higher gold prices and stronger sales volumes. Newmont beats quarterly profit estimates on higher gold prices, Cadia recovery
• Positive Sentiment: Net profit rose to approximately $2.48 billion from $1.83 billion a year earlier. The results were supported by elevated gold prices, improved gold sales and recovery at the Cadia operation, reinforcing the company’s operating leverage to bullion prices. Newmont Logs Higher Profit, Revenue on Higher Gold Sales
• Positive Sentiment: Management said Newmont remains on track to achieve full-year 2026 production guidance and described the quarter as record-setting for adjusted net income. Investors also responded favorably to expectations that the company could return to growth in 2027. Newmont Reports Third Quarter 2026 Results
• Positive Sentiment: RBC Dominion Securities raised its view to “outperform” with a $155 price target, implying substantial upside from recent trading levels. Newmont also declared a quarterly dividend of approximately $0.26 per share. RBC Dominion Securities Newmont rating
• Neutral Sentiment: Newmont filed its September-quarter Form 10-Q, providing the detailed financial disclosures behind the earnings release. The dividend declaration and updated payment terms were also reported for the company’s CDI holders. Newmont Files September Quarter Form 10-Q
• Negative Sentiment: Higher costs remain a concern. Coverage noted that Newmont raised its 2026 cost outlook, which could limit the benefit of strong gold prices and reduce confidence in margins. Newmont beats third-quarter earnings expectations
• Negative Sentiment: Analyst sentiment was mixed: Freedom Broker maintained a “hold” rating but cut its target to $116 from $130, while National Bank Financial also lowered expectations. These cautious revisions likely tempered the positive reaction to the earnings beat.

About Newmont

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.