News about NEM

Newmont (NEM) reported third-quarter 2026 adjusted earnings of $2.2 per share, up 28.7% year over year and 13.4% above the Zacks Consensus Estimate of $1.94. Revenue rose 15.2% to $6.36 billion, 5.9% above estimates, as higher realized gold prices offset lower gold volumes. Attributable gold production was about 1.3 million ounces, down 8.5%, while the average realized gold price rose about 22% to $4,317 per ounce. Operating cash flow increased 20.5% to $2.77 billion, and cash and equivalents reached $8.83 billion at the end of September 2026. Newmont kept its 2026 gold production guidance of about 5.26 million ounces and adjusted its cost outlook, while El Niño-related water conditions at Lihir could affect production and costs.

Newmont (NEM) expects gold production to recover in 2027 after this year's trough, with total portfolio output rising by a low- to mid-single-digit percentage, and remains on track for its 2026 target of about 5.3 million attributable gold ounces. Full-year 2026 all-in sustaining cost (AISC) guidance was lowered to about $1,520 per ounce, but fourth-quarter costs are expected at about $1,900 per ounce. For 2027, unit costs may rise on inflation, a roughly 30% drop in Peñasquito silver output and labor cost escalation above the roughly 3% assumed for 2026. The Red Chris project, with development capital of $4.2 billion to $4.8 billion on a 100% basis, is expected to reach a final investment decision early in 2027, with commercial production targeted for 2033. Development capital is expected to rise by about $500 million in 2027, mostly due to Red Chris, while the company has returned about $1.9 billion to shareholders since its previous earnings call.

NEM (Newmont) is set to report third-quarter 2026 results after the close on October 22, and Zacks' model predicts Newmont will beat earnings estimates. The company has beaten Zacks Consensus earnings estimates in each of the last four quarters, averaging a 24.8% surprise; the current-quarter consensus is $1.96 per share and sales of $6,010.3 million, up 8.8% year over year. Higher realized gold prices are expected to support revenue, but weaker production and higher costs could weigh; second-quarter attributable gold output fell about 13% year over year, and 2026 production is seen at 5.26 million ounces versus 5.89 million in 2025. The 2026 all-in sustaining cost guidance, on a by-product basis, is $1,680 per ounce, up from $1,358 in 2025. NEM shares have gained 27.5% in a year, outperforming the 3.9% rise of the Zacks Mining – Gold industry.