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NEM's Q1 Earnings and Sales Trounce Estimates on Higher Gold Prices
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Key Takeaways
NEM Q1 earnings and revenues surged year over year, beating estimates on higher gold prices.
Realized gold prices jumped 66.4% YoY, offsetting declines in production volumes.
Newmont boosted cash levels and cut debt, while reaffirming 2026 production and cost outlook.
Newmont Corporation (NEM - Free Report) reported first-quarter 2026 earnings (as reported) of $3 per share compared with $1.68 in the year-ago quarter.
Barring one-time items, adjusted earnings were $2.90 per share, up from $1.25 reported in the prior-year quarter. It topped the Zacks Consensus Estimate of $2.07.
NEM’s revenues for the first quarter were $7,307 million, up roughly 45.9% from $5,010 million reported in the prior-year quarter. The figure topped the Zacks Consensus Estimate of $6,360.7 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 first quarter of 1.3 million ounces was 10.3% lower than the prior quarter’s figure and down 15.6% year over year. The figure beat our estimate of 1.23 million ounces.
Average realized prices of gold rose around 66.4% year over year to $4,900 per ounce. The figure was below our estimate of $4,934 per ounce.
The company’s costs applicable to sales (CAS) for gold (co-product) were $1,307 per ounce, up 6.5% year over year. The figure was above our estimate of $1,233.5 per ounce.
All-in-sustaining costs (AISC) for gold (co-product) were up around 3.5% year over year to $1,709 per ounce. The figure was higher than our estimate of $1,684 per ounce.
NEM’s Financials
The company ended the quarter with cash and cash equivalents of $8,775 million, up 87% year over year. At the end of the quarter, the company had a long-term debt of $5,079 million, down 32.3% year over year.
Net cash from continuing operations amounted to $3.8 billion in the reported quarter, up from $2 billion in the year-ago quarter.
Newmont’s 2026 Outlook
Newmont anticipates gold production for 2026 at about 5.26 million ounces. The company also projects total CAS (by-product) for gold at $1,055 per ounce and an AISC (by-product) of $1,680 per ounce.
General and Administrative expenses for 2026 are expected to be around $375 million, aided by cost savings. Reclamation and Remediation Accretion is projected to be about $385 million, while exploration and advanced projects expenses are predicted to be around $525 million.
NEM’s Price Performance
Newmont’s shares have gained 105.9% in the past year compared with the 80% rise of the industry.
Image Source: Zacks Investment Research
NEM’s Zacks Rank & Key Picks
NEM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Aura Minerals Inc. (AUGO - Free Report) , Air Products and Chemicals, Inc. (APD - Free Report) and Albemarle Corporation (ALB - Free Report) .
Aura Minerals is slated to report first-quarter 2026 results on May 6. The Zacks Consensus Estimate for earnings is pegged at $1.84 per share, indicating 397.3% year-over-year growth. AUGO sports a Zacks Rank #1 (Strong Buy) at present. You can seethe complete list of today’s Zacks #1 Rank stocks here.
Air Products is scheduled to report second-quarter fiscal 2026 results on April 30. The Zacks Consensus Estimate for APD’s second-quarter earnings per share is pegged at $3.05, indicating 13.38% year-over-year growth. APD carries a Zacks Rank #2 (Buy) at present.
Albemarle is slated to report first-quarter 2026 results on May 6. The consensus estimate for ALB’s earnings per share is pegged at $1.07. ALB presently carries a Zacks Rank #2.
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NEM's Q1 Earnings and Sales Trounce Estimates on Higher Gold Prices
Key Takeaways
Newmont Corporation (NEM - Free Report) reported first-quarter 2026 earnings (as reported) of $3 per share compared with $1.68 in the year-ago quarter.
Barring one-time items, adjusted earnings were $2.90 per share, up from $1.25 reported in the prior-year quarter. It topped the Zacks Consensus Estimate of $2.07.
NEM’s revenues for the first quarter were $7,307 million, up roughly 45.9% from $5,010 million reported in the prior-year quarter. The figure topped the Zacks Consensus Estimate of $6,360.7 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 first quarter of 1.3 million ounces was 10.3% lower than the prior quarter’s figure and down 15.6% year over year. The figure beat our estimate of 1.23 million ounces.
Average realized prices of gold rose around 66.4% year over year to $4,900 per ounce. The figure was below our estimate of $4,934 per ounce.
The company’s costs applicable to sales (CAS) for gold (co-product) were $1,307 per ounce, up 6.5% year over year. The figure was above our estimate of $1,233.5 per ounce.
All-in-sustaining costs (AISC) for gold (co-product) were up around 3.5% year over year to $1,709 per ounce. The figure was higher than our estimate of $1,684 per ounce.
NEM’s Financials
The company ended the quarter with cash and cash equivalents of $8,775 million, up 87% year over year. At the end of the quarter, the company had a long-term debt of $5,079 million, down 32.3% year over year.
Net cash from continuing operations amounted to $3.8 billion in the reported quarter, up from $2 billion in the year-ago quarter.
Newmont’s 2026 Outlook
Newmont anticipates gold production for 2026 at about 5.26 million ounces. The company also projects total CAS (by-product) for gold at $1,055 per ounce and an AISC (by-product) of $1,680 per ounce.
General and Administrative expenses for 2026 are expected to be around $375 million, aided by cost savings. Reclamation and Remediation Accretion is projected to be about $385 million, while exploration and advanced projects expenses are predicted to be around $525 million.
NEM’s Price Performance
Newmont’s shares have gained 105.9% in the past year compared with the 80% rise of the industry.
Image Source: Zacks Investment Research
NEM’s Zacks Rank & Key Picks
NEM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Aura Minerals Inc. (AUGO - Free Report) , Air Products and Chemicals, Inc. (APD - Free Report) and Albemarle Corporation (ALB - Free Report) .
Aura Minerals is slated to report first-quarter 2026 results on May 6. The Zacks Consensus Estimate for earnings is pegged at $1.84 per share, indicating 397.3% year-over-year growth. AUGO sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Air Products is scheduled to report second-quarter fiscal 2026 results on April 30. The Zacks Consensus Estimate for APD’s second-quarter earnings per share is pegged at $3.05, indicating 13.38% year-over-year growth. APD carries a Zacks Rank #2 (Buy) at present.
Albemarle is slated to report first-quarter 2026 results on May 6. The consensus estimate for ALB’s earnings per share is pegged at $1.07. ALB presently carries a Zacks Rank #2.