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NEM to Report Q3 Earnings: What's in the Offing for the Stock?
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Key Takeaways
Newmont is slated to report Q3 results on Oct. 22, with the earnings model predicting a beat.
Higher realized gold prices may lift revenues and margins, with sales estimated to rise 8.8% year over year.
Weaker production and higher costs may weigh on Newmont's results, offsetting pricing gains.
Newmont Corporation (NEM - Free Report) is set to release third-quarter 2026 results after the closing bell on Oct. 22.
The mining giant beat the Zacks Consensus Estimate for earnings in each of the last four quarters. It has a trailing four-quarter earnings surprise of 24.8% on average. While NEM is expected to have benefited from higher realized gold prices in the third quarter, weaker production and higher costs likely weighed on its performance.
NEM’s shares have gained 27.5% in a year, outperforming the Zacks Mining – Gold industry’s 3.9% rise.
Image Source: Zacks Investment Research
Let’s see how things are shaping up for this announcement.
What Our Model Unveils for NEM Stock
Our proven model predicts an earnings beat for Newmont this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: Earnings ESP for NEM is +0.17%. The Zacks Consensus Estimate for the third quarter is currently pegged at $1.96. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: NEM currently carries a Zacks Rank #3.
What do NEM’s Revenue Estimates Indicate?
The Zacks Consensus Estimate for NEM’s third-quarter consolidated sales is currently pegged at $6,010.3 million, calling for an increase of 8.8% from the year-ago quarter’s tally.
Factors Shaping NEM’s Q3 Results
The impact of higher gold prices is expected to be reflected in Newmont’s results for the to-be-reported quarter. Higher realized gold prices are likely to have driven its top line and margins. However, the pricing tailwind is likely to have been weaker in the third quarter compared with the second quarter.
Although gold prices have retreated sharply from their January 2026 peak, they continue to remain at supportive levels. Gold has come under renewed pressure after reaching a more than three-month high near $4,650 per ounce in late August 2026. Bullion prices fell toward $4,300 an ounce following the U.S. Federal Reserve’s interest rate hike, its first in more than three years, and expectations of another increase before the year-end. A stronger U.S. dollar and inflation worries stemming from an uptick in oil prices amid concerns over supply disruptions put pressure on gold in September.
Bullion closed the third quarter at around $4,150 per ounce, roughly 8% higher year over year. Our estimate for the average realized price of gold for NEM stands at $4,428 per ounce for the third quarter, which indicates a roughly 25% year-over-year rise.
Newmont’s third-quarter performance is likely to have been impacted by weaker production and higher costs. It saw lower gold production for the second quarter, partly linked to its strategic divestment of non-core assets. The company reported a roughly 13% year-over-year and 1% sequential decline in attributable gold production to 1.29 million ounces. Lower output from Cadia and reduced grades across certain mines impacted production.
Newmont expects third-quarter production to be largely in line with the second-quarter level. It sees gold production at about 5.26 million ounces for 2026, indicating a year-over-year decline from 5.89 million ounces in 2025.
Weaker production is expected to lead to higher unit costs. Newmont sees a sequential rise in unit costs in the third quarter, mainly due to increased sustaining capital spending and higher oil prices. For 2026, NEM expects AISC to be $1,680 per ounce on a by-product basis, indicating a notable increase from $1,358 per ounce in 2025.
Our estimate for AISC on a co-product basis stands at $1,961 per ounce for the third quarter, which indicates a 25.2% year-over-year increase and a 1.1% sequential rise.
Here are some companies in the basic materials space you may want to consider, as our model shows they too have the right combination of elements to post an earnings beat this quarter:
View the Zacks #1 Rank List
Image: Bigstock
NEM to Report Q3 Earnings: What's in the Offing for the Stock?
Key Takeaways
Newmont Corporation (NEM - Free Report) is set to release third-quarter 2026 results after the closing bell on Oct. 22.
The mining giant beat the Zacks Consensus Estimate for earnings in each of the last four quarters. It has a trailing four-quarter earnings surprise of 24.8% on average. While NEM is expected to have benefited from higher realized gold prices in the third quarter, weaker production and higher costs likely weighed on its performance.
NEM’s shares have gained 27.5% in a year, outperforming the Zacks Mining – Gold industry’s 3.9% rise.
Image Source: Zacks Investment Research
Let’s see how things are shaping up for this announcement.
What Our Model Unveils for NEM Stock
Our proven model predicts an earnings beat for Newmont this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat.
Earnings ESP: Earnings ESP for NEM is +0.17%. The Zacks Consensus Estimate for the third quarter is currently pegged at $1.96. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: NEM currently carries a Zacks Rank #3.
What do NEM’s Revenue Estimates Indicate?
The Zacks Consensus Estimate for NEM’s third-quarter consolidated sales is currently pegged at $6,010.3 million, calling for an increase of 8.8% from the year-ago quarter’s tally.
Factors Shaping NEM’s Q3 Results
The impact of higher gold prices is expected to be reflected in Newmont’s results for the to-be-reported quarter. Higher realized gold prices are likely to have driven its top line and margins. However, the pricing tailwind is likely to have been weaker in the third quarter compared with the second quarter.
Although gold prices have retreated sharply from their January 2026 peak, they continue to remain at supportive levels. Gold has come under renewed pressure after reaching a more than three-month high near $4,650 per ounce in late August 2026. Bullion prices fell toward $4,300 an ounce following the U.S. Federal Reserve’s interest rate hike, its first in more than three years, and expectations of another increase before the year-end. A stronger U.S. dollar and inflation worries stemming from an uptick in oil prices amid concerns over supply disruptions put pressure on gold in September.
Bullion closed the third quarter at around $4,150 per ounce, roughly 8% higher year over year. Our estimate for the average realized price of gold for NEM stands at $4,428 per ounce for the third quarter, which indicates a roughly 25% year-over-year rise.
Newmont’s third-quarter performance is likely to have been impacted by weaker production and higher costs. It saw lower gold production for the second quarter, partly linked to its strategic divestment of non-core assets. The company reported a roughly 13% year-over-year and 1% sequential decline in attributable gold production to 1.29 million ounces. Lower output from Cadia and reduced grades across certain mines impacted production.
Newmont expects third-quarter production to be largely in line with the second-quarter level. It sees gold production at about 5.26 million ounces for 2026, indicating a year-over-year decline from 5.89 million ounces in 2025.
Weaker production is expected to lead to higher unit costs. Newmont sees a sequential rise in unit costs in the third quarter, mainly due to increased sustaining capital spending and higher oil prices. For 2026, NEM expects AISC to be $1,680 per ounce on a by-product basis, indicating a notable increase from $1,358 per ounce in 2025.
Our estimate for AISC on a co-product basis stands at $1,961 per ounce for the third quarter, which indicates a 25.2% year-over-year increase and a 1.1% sequential rise.
Newmont Corporation Price and EPS Surprise
Newmont Corporation price-eps-surprise | Newmont Corporation Quote
Basic Materials Stocks That Warrant a Look
Here are some companies in the basic materials space you may want to consider, as our model shows they too have the right combination of elements to post an earnings beat this quarter:
Freeport-McMoRan Inc. (FCX - Free Report) , scheduled to release earnings on Oct. 27, has an Earnings ESP of +2.60% and carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for FCX’s earnings for the third quarter is currently pegged at 75 cents.
Franco-Nevada Corporation (FNV - Free Report) , scheduled to release earnings on Nov. 11, has an Earnings ESP of +4.44%.
The Zacks Consensus Estimate for FNV’s earnings for the third quarter is currently pegged at $1.95. FNV currently carries a Zacks Rank #3.
Reliance, Inc. (RS - Free Report) , slated to release earnings on Oct. 21, has an Earnings ESP of +3.37% and carries a Zacks Rank #1 at present.
The consensus mark for RS’s third-quarter earnings is currently pegged at $6.76.