Newmont (NYSE:NEM) Issues Earnings Results

Newmont (NYSE:NEM) issued its quarterly earnings results on Thursday. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.05, Zacks reports. The company had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.36 billion. Newmont had a net margin of 33.87% and a return on equity of 27.84%. During the same period in the prior year, the firm earned $1.43 earnings per share.

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

• Newmont reported a strong second quarter, with 1.3 million ounces of gold production, $2.9 billion of operating cash flow, and a record $2.2 billion of free cash flow, while saying it remains on track to meet full-year 2026 guidance.
• The company returned about $1.8 billion to $1.9 billion to shareholders through dividends and share repurchases in the quarter and has now repurchased more than 100 million shares since starting the buyback program.
• Newmont received key regulatory approvals for Red Chris in British Columbia and is now finishing the feasibility study and evaluating the project for a board decision later this year, though capital costs are expected to be higher than originally assumed.
• Management said Cadia recovery is progressing after the April seismic event, with operating caves back online in mid-June, while cave-establishment work for future caves still needs additional regulatory and technical steps before restarting.
• Costs remain within full-year guidance, but Newmont flagged higher fuel-related pressure in the second half and expects third-quarter unit costs to rise modestly as sustaining capital increases and oil prices remain elevated.

Newmont Stock Performance

NYSE NEM opened at $93.89 on Friday. Newmont has a 1-year low of $61.76 and a 1-year high of $134.88. The company has a market capitalization of $100.23 billion, a P/E ratio of 12.45, a PEG ratio of 1.14 and a beta of 0.46. The business has a 50 day moving average price of $100.25 and a 200 day moving average price of $110.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 2.17.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NEM shares. Macquarie Infrastructure lowered their price objective on Newmont from $133.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, June 15th. BNP Paribas Exane cut their price objective on shares of Newmont from $128.00 to $111.00 and set a “neutral” rating on the stock in a report on Thursday, June 18th. BMO Capital Markets cut their price objective on shares of Newmont from $145.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Royal Bank Of Canada lowered their target price on shares of Newmont from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, The Goldman Sachs Group dropped their price objective on Newmont from $122.50 to $111.40 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Newmont has an average rating of “Moderate Buy” and a consensus target price of $136.26.

Insider Buying and Selling at Newmont

In related news, insider David John Thornton sold 2,296 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total transaction of $252,812.56. Following the sale, the insider owned 23,163 shares in the company, valued at approximately $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Natascha Viljoen sold 3,882 shares of Newmont stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $105.32, for a total transaction of $408,852.24. Following the completion of the sale, the chief executive officer directly owned 142,999 shares of the company’s stock, valued at $15,060,654.68. The trade was a 2.64% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 28,556 shares of company stock worth $3,058,146. 0.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Newmont

Several large investors have recently added to or reduced their stakes in NEM. Swiss RE Ltd. purchased a new stake in Newmont in the 4th quarter valued at about $26,000. JPL Wealth Management LLC purchased a new position in shares of Newmont during the 3rd quarter worth about $27,000. Wilkerson Advisory Group LLC purchased a new position in shares of Newmont in the 4th quarter worth about $42,000. Kemnay Advisory Services Inc. purchased a new position in Newmont in the fourth quarter valued at approximately $43,000. Finally, Bank of Jackson Hole Trust lifted its holdings in shares of Newmont by 130.0% during the 4th quarter. Bank of Jackson Hole Trust now owns 575 shares of the basic materials company’s stock valued at $57,000 after acquiring an additional 325 shares in the last quarter. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Newmont

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont reported Q2 earnings of $2.10 per share, edging past estimates of $2.05 and sharply improving from $1.43 a year ago, signaling stronger operating performance. Article Title
• Positive Sentiment: The company said it generated record second-quarter free cash flow of $2.2 billion and produced about 1.3 million attributable gold ounces, highlighting strong cash generation and production resilience. Article Title
• Positive Sentiment: Newmont reaffirmed full-year guidance, which reassures investors that the quarter’s weaker gold-price backdrop has not derailed its operating outlook. Article Title
• Positive Sentiment: The company also declared a dividend of $0.261 per share, reinforcing shareholder-return support. Article Title
• Neutral Sentiment: Revenue came in at $6.12 billion versus estimates of $6.36 billion, so top-line results were softer than expected even as earnings outperformed. Article Title
• Negative Sentiment: Earlier commentary noted a 13% gold-price correction during the quarter, which remains a risk for margins if bullion prices stay pressured. Article Title

Newmont Company Profile

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.