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

Newmont (NYSE:NEM) issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $6.27 billion. Newmont had a net margin of 34.73% and a return on equity of 29.81%. Newmont’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.71 earnings per share.

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 Stock Performance

Shares of Newmont stock opened at $108.72 on Monday. The firm has a market capitalization of $112.98 billion, a P/E ratio of 12.64, a PEG ratio of 2.01 and a beta of 0.51. The company has a quick ratio of 2.16, a current ratio of 2.45 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average price of $121.86 and a 200 day moving average price of $110.97. Newmont has a 52 week low of $76.05 and a 52 week high of $135.29.

Newmont Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Wednesday, November 25th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, November 25th. This represents a $1.04 annualized dividend and a dividend yield of 1.0%. Newmont’s dividend payout ratio is 12.09%.

Newmont News Summary

Here are the key news stories impacting Newmont this week:

• Positive Sentiment: Newmont reported third-quarter adjusted EPS of $2.20, above the $1.94 consensus estimate, while revenue rose 15.2% year over year to $6.36 billion, exceeding expectations. Higher gold prices, stronger sales and improved copper output following the Cadia recovery supported results. Newmont beats quarterly profit estimates on higher gold prices
• Positive Sentiment: Operating momentum and cash generation were favorable: third-quarter free cash flow reached approximately $1.9 billion, and management said the company remains positioned to meet its 2026 production guidance. Newmont also declared a quarterly dividend of $0.26 per share. Newmont: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Newmont expects gold production to rebound in 2027, offering a potential future catalyst. RBC Dominion Securities maintained an outperform view and set a $155 price target. RBC Dominion Securities recommendations
• Neutral Sentiment: The company priced the Red Chris block-cave expansion at as much as $4.8 billion, with commercial production targeted for 2033. The project could support long-term growth but adds significant capital requirements and execution risk. Newmont prices Red Chris expansion at up to $4.8B
• Negative Sentiment: Newmont raised its full-year 2026 all-in sustaining cost outlook to approximately $1,520 per ounce. Management also highlighted higher costs, declining silver production and increased capital spending related to Red Chris, tempering the earnings upside. Newmont targets Red Chris production in 2033
• Negative Sentiment: Analyst sentiment was mixed. TD Cowen lowered its price target to $131 from $133, while Freedom Broker downgraded the stock to hold and cut its target to $116. Concerns that Newmont’s strong multiyear rally has already priced in much of its cash-flow potential may be limiting investor enthusiasm. Freedom Broker downgrades Newmont to hold

Analyst Ratings Changes

Several analysts have issued reports on NEM shares. TD increased their target price on Newmont from $127.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Barclays cut their price target on Newmont from $124.00 to $123.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. BMO Capital Markets boosted their price target on Newmont from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 29th. Citigroup upped their price objective on Newmont from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. Finally, Raymond James Financial restated an “outperform” rating and set a $140.00 price objective (up from $131.00) on shares of Newmont in a research note on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.25.

Insider Buying and Selling

In other Newmont news, EVP Peter Toth sold 3,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president owned 34,315 shares of the company’s stock, valued at approximately $3,939,705.15. This trade represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Tabolt sold 11,445 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer directly owned 29,324 shares of the company’s stock, valued at approximately $3,081,659.16. This represents a 28.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 35,973 shares of company stock worth $3,927,169 in the last three months. Corporate insiders own 0.06% of the company’s stock.

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.