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Newmont's Q2 Earnings Outpace Estimates on Higher Gold Prices
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Key Takeaways
NEM posted Q2 adjusted EPS of $1.43, up 99% year over year and above the $1.04 consensus estimate.
Revenue rose 20.8% to $5.32B on a 41% jump in realized gold prices.
NEM's AISC rose 2% to $1,593/oz, while cash surged 138% and debt fell 18% year over year.
Newmont Corporation (NEM - Free Report) reported second-quarter 2025 earnings from continuing operations of $1.85 per share compared with 73 cents in the year-ago quarter.
Barring one-time items, adjusted earnings were $1.43 per share, up from 72 cents reported in the prior-year quarter. It topped the Zacks Consensus Estimate of $1.04 per share.
NEM’s revenues for the second quarter were $5,317 million, up 20.8% from $4,402 million reported in the prior-year quarter. The figure topped the Zacks Consensus Estimate of $4,582.5 million. The increase in the top line was primarily due to higher year-over-year realized gold prices.
Newmont Corporation Price, Consensus and EPS Surprise
Newmont's attributable gold production in the second quarter of 1.48 million ounces was 8.1% lower than the prior-year quarter’s figure. The figure beat our estimate of 1.42 million ounces.
Average realized prices of gold rose around 41.4% year over year to $3,320 per ounce. The figure topped our estimate of $2,953 per ounce.
The company’s costs applicable to sales (CAS) for gold were $1,215 per ounce, up 5.5% year over year. The figure lagged our estimate of $1,228 per ounce.
All-in-sustaining costs (AISC) for gold were up around 2% year over year to $1,593 per ounce. The figure missed our estimate of $1,657 per ounce.
NEM’s Financials
The company ended the quarter with cash and cash equivalents of $6,185 million, up 137.7% year over year. At the end of the quarter, the company had a long-term debt of $7,132 million, down 17.9% year over year.
Net cash from continuing operations amounted to $2,384 million in the reported quarter, up from $1,428 million in the year-ago quarter.
NEM’s board authorized an additional $3 billion share repurchase program.
Newmont’s 2025 Outlook
Newmont anticipates maintaining its expected gold production for 2025 at about 5.9 million ounces. The company also projects total CAS for gold at $1,200 per ounce and an AISC of $1,630 per ounce.
General and Administrative expenses are forecasted at $475 million. Reclamation and Remediation Accretion are projected at $475 million, while exploration and advanced projects expenses are predicted at $525 million.
NEM’s Price Performance
Newmont’s shares have gained 31.7% in the past year compared with a 43.9% rise in the industry.
Image Source: Zacks Investment Research
NEM’s Zacks Rank & Key Picks
NEM currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth a look in the basic materials space include Royal Gold, Inc. (RGLD - Free Report) , Kinross Gold Corporation (KGC - Free Report) and Agnico Eagle Mines (AEM - Free Report) .
Royal Gold is slated to report second-quarter results on Aug 6. The Zacks Consensus Estimate for earnings is pegged at $1.70. RGLD beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 9%. RGLD carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kinross is scheduled to report second-quarter results on July 30. The Zacks Consensus Estimate for KGC’s second-quarter earnings is pegged at 27 cents. KGC beat the Zacks Consensus Estimate in three of the last four quarters, with the average earnings surprise being 16.1%. KGC currently carries a Zacks Rank #1.
Agnico Eagle is slated to report second-quarter results on July 30. The consensus estimate for AEM’s earnings is pegged at $1.66. AEM, carrying a Zacks Rank #1, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 12.3%.
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Newmont's Q2 Earnings Outpace Estimates on Higher Gold Prices
Key Takeaways
Newmont Corporation (NEM - Free Report) reported second-quarter 2025 earnings from continuing operations of $1.85 per share compared with 73 cents in the year-ago quarter.
Barring one-time items, adjusted earnings were $1.43 per share, up from 72 cents reported in the prior-year quarter. It topped the Zacks Consensus Estimate of $1.04 per share.
NEM’s revenues for the second quarter were $5,317 million, up 20.8% from $4,402 million reported in the prior-year quarter. The figure topped the Zacks Consensus Estimate of $4,582.5 million. The increase in the top line was primarily due to higher year-over-year realized gold prices.
Newmont Corporation Price, Consensus and EPS Surprise
Newmont Corporation price-consensus-eps-surprise-chart | Newmont Corporation Quote
Newmont’s Operational Highlights
Newmont's attributable gold production in the second quarter of 1.48 million ounces was 8.1% lower than the prior-year quarter’s figure. The figure beat our estimate of 1.42 million ounces.
Average realized prices of gold rose around 41.4% year over year to $3,320 per ounce. The figure topped our estimate of $2,953 per ounce.
The company’s costs applicable to sales (CAS) for gold were $1,215 per ounce, up 5.5% year over year. The figure lagged our estimate of $1,228 per ounce.
All-in-sustaining costs (AISC) for gold were up around 2% year over year to $1,593 per ounce. The figure missed our estimate of $1,657 per ounce.
NEM’s Financials
The company ended the quarter with cash and cash equivalents of $6,185 million, up 137.7% year over year. At the end of the quarter, the company had a long-term debt of $7,132 million, down 17.9% year over year.
Net cash from continuing operations amounted to $2,384 million in the reported quarter, up from $1,428 million in the year-ago quarter.
NEM’s board authorized an additional $3 billion share repurchase program.
Newmont’s 2025 Outlook
Newmont anticipates maintaining its expected gold production for 2025 at about 5.9 million ounces. The company also projects total CAS for gold at $1,200 per ounce and an AISC of $1,630 per ounce.
General and Administrative expenses are forecasted at $475 million. Reclamation and Remediation Accretion are projected at $475 million, while exploration and advanced projects expenses are predicted at $525 million.
NEM’s Price Performance
Newmont’s shares have gained 31.7% in the past year compared with a 43.9% rise in the industry.
Image Source: Zacks Investment Research
NEM’s Zacks Rank & Key Picks
NEM currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth a look in the basic materials space include Royal Gold, Inc. (RGLD - Free Report) , Kinross Gold Corporation (KGC - Free Report) and Agnico Eagle Mines (AEM - Free Report) .
Royal Gold is slated to report second-quarter results on Aug 6. The Zacks Consensus Estimate for earnings is pegged at $1.70. RGLD beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 9%. RGLD carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Kinross is scheduled to report second-quarter results on July 30. The Zacks Consensus Estimate for KGC’s second-quarter earnings is pegged at 27 cents. KGC beat the Zacks Consensus Estimate in three of the last four quarters, with the average earnings surprise being 16.1%. KGC currently carries a Zacks Rank #1.
Agnico Eagle is slated to report second-quarter results on July 30. The consensus estimate for AEM’s earnings is pegged at $1.66. AEM, carrying a Zacks Rank #1, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 12.3%.