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Newmont's Q3 Earnings Beat Estimates as Gold Prices Rise Y/Y

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Key Takeaways

  • Newmont's adjusted Q3 earnings surged to $1.71 per share, beating consensus estimates.
  • Revenues rose 20% year over year to $5.52 billion on stronger realized gold prices.
  • Cash reserves jumped 87% while long-term debt dropped 31.4% compared with last year.

Newmont Corporation (NEM - Free Report) reported third-quarter 2025 earnings of $1.67 per share compared with 80 cents in the year-ago quarter.

Barring one-time items, adjusted earnings were $1.71 per share, up from 81 cents reported in the prior-year quarter. It topped the Zacks Consensus Estimate of $1.29.

NEM’s revenues for the third quarter were $5,524 million, up roughly 20% from $4,605 million reported in the prior-year quarter. The figure topped the Zacks Consensus Estimate of $4,973.8 million. The increase in the top line was primarily due to higher year-over-year realized gold prices. Additionally, costs also declined.

Newmont Corporation Price, Consensus and EPS Surprise

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 third quarter of 1.42 million ounces was 4% lower than the prior quarter’s figure and also down 15% year over year. The figure lagged our estimate of 1.51 million ounces.

Average realized prices of gold rose around 40.5% year over year to $3,539 per ounce. The figure topped our estimate of $3,357 per ounce.

The company’s costs applicable to sales (CAS) for gold were $1,185 per ounce, down 1.8% year over year. The figure was higher than our estimate of $1,035 per ounce.

All-in-sustaining costs (AISC) for gold were down around 2.8% year over year to $1,566 per ounce. The figure was lower than our estimate of $1,626 per ounce.

NEM’s Financials

The company ended the quarter with cash and cash equivalents of $5,639 million, up 87% year over year. At the end of the quarter, the company had a long-term debt of $5,180 million, down 31.4% year over year.

Net cash from continuing operations amounted to $2,298 million in the reported quarter, up from $1,637 million in the year-ago quarter.

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, unchanged from its previous guidance.
 
General and Administrative expenses guidance for 2025 has improved by $85 million, aided by cost savings. Reclamation and Remediation Accretion are projected to improve by $125 million, while exploration and advanced projects expenses are predicted to improve by $75 million.

NEM’s Price Performance

Newmont’s shares have gained 87.3% in the past year compared with a 79.3% rise in the industry.

Zacks Investment Research
Image Source: Zacks Investment Research

NEM’s Zacks Rank & Key Picks

NEM currently sports a Zacks Rank #1 (Strong Buy).

Other top-ranked stocks worth a look in the basic materials space are Royal Gold, Inc. (RGLD - Free Report) , Avino Silver & Gold Mines Ltd. (ASM - Free Report) and Fortuna Mining Corp. (FSM - Free Report) .

Royal Gold is scheduled to report third-quarter results on Nov. 5. The Zacks Consensus Estimate for RGLD’s third-quarter earnings is pegged at $2.30 per share. RGLD’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, with the average surprise being 8.95%. Royal Gold currently flaunts a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Avino Silver is slated to report third-quarter results on Nov. 6. The Zacks Consensus Estimate for third-quarter earnings is pegged at 3 cents per share. ASM’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, with the average surprise being 141.67%. Avino Silver flaunts a Zacks Rank #2 (Buy) at present.

Fortuna Mining is expected to report third-quarter results on Nov. 5. FSM carries a Zacks Rank #2 at present. Fortuna Mining’s earnings beat the consensus estimate in one of the last four quarters and missed thrice.

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