We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
NEM Q3 Earnings Beat Estimates on Higher Gold Prices, Strong Sales
Read MoreHide Full Article
Key Takeaways
Newmont's Q3 adjusted EPS rose 28.7% to $2.20, beating estimates, while revenues climbed 15.2% to $6.36B.
NEM's realized gold prices jumped 22% to $4,317 per ounce, offsetting an 8.5% decline in gold production.
Newmont maintained its 2026 gold output target of 5.26M ounces and lowered CAS and AISC cost guidance.
Newmont Corporation (NEM - Free Report) reported third-quarter 2026 adjusted earnings of $2.2 per share, up 28.7% from $1.71 in the year-ago quarter. The figure topped the Zacks Consensus Estimate of $1.94 by 13.4%.
Revenues rose 15.2% year over year to $6.36 billion, beating the Zacks Consensus Estimate of $6.01 billion by 5.9%. Higher realized gold prices supported sales growth, partly offset by lower gold volumes.
Newmont Corporation Price, Consensus and EPS Surprise
Newmont’s attributable gold production in the third quarter of 2026 was approximately 1.3 million ounces, down 8.5% year over year. The figure surpassed our estimate of 1.26 million.
The average realized price of gold rose approximately 22% year over year to $4,317 per ounce, but declined from $4,414 in the preceding quarter. The figure lagged our estimate of $4,427.6 per ounce.
The company’s CAS for gold on a co-product basis was $1,449 per ounce, up 22.3% year over year. The figure declined from $1,463 per ounce in the prior quarter. The figure was above our estimate of $1,337.6 per ounce.
AISC for gold on a co-product basis increased 25.4% year over year to $1,963 per ounce. The figure was up from $1,938 per ounce in the preceding quarter. The figure exceeded our estimate of $1,961 per ounce.
NEM's Cash Flow and Balance Sheet Remain Strong
Net cash provided by operating activities increased 20.5% year over year to $2.77 billion from $2.3 billion. Free cash flow rose 22.4% to $1.91 billion from $1.56 billion in the prior-year quarter.
Cash and cash equivalents totaled $8.83 billion at the end of September 2026, up 56.5% year over year. Debt stood at approximately $5.09 billion, down 1.8% from the year-ago level.
Newmont ended the quarter with approximately $12.8 billion in total liquidity, including available revolving credit capacity. Its net cash position was approximately $3.2 billion, providing financial flexibility for capital investment and shareholder returns.
Newmont Maintains Production Guidance, Cuts Cost Outlook
Newmont remains on track to achieve its full-year 2026 attributable gold production guidance of approximately 5.26 million ounces. The company expects the fourth quarter to be its strongest production period of the year.
Higher output is anticipated at Tanami, Cerro Negro, Ahafo North and Lihir. However, ongoing El Niño-related conditions affecting water availability at Lihir could impact production and costs.
Newmont improved its full-year gold by-product CAS guidance to $925 per ounce and AISC guidance to $1,520 per ounce. Sustaining capital expenditures are projected at $1.35 billion, while development capital expenditures are expected to total $900 million.
NEM’s Price Performance
Shares of Newmont have gained 28.3% over the past year compared with the 9.1% rise in its industry.
Image Source: Zacks Investment Research
NEM’s Zacks Rank & Key Picks
NEMcurrently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Reliance, Inc. (RS - Free Report) , Cabot Corporation (CBT - Free Report) and Avient Corporation (AVNT - Free Report) .
The Zacks Consensus Estimate for RS’ 2026 earnings is pegged at $23.70 per share, indicating a 66.2% year-over-year surge. RSshares have gained 50.8% over the past year.
The Zacks Consensus Estimate for CBT’s current fiscal-year earnings is pinned at $6.35 per share. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, with an average surprise of 4.56%.CBTshares have gained 4.2% over the past year.
The Zacks Consensus Estimate for AVNT’s fiscal 2026 earnings is pegged at $3.2 per share, indicating a year-over-year rise of 13.48%. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 3.4%.
View the Zacks #1 Rank List
Image: Bigstock
NEM Q3 Earnings Beat Estimates on Higher Gold Prices, Strong Sales
Key Takeaways
Newmont Corporation (NEM - Free Report) reported third-quarter 2026 adjusted earnings of $2.2 per share, up 28.7% from $1.71 in the year-ago quarter. The figure topped the Zacks Consensus Estimate of $1.94 by 13.4%.
Revenues rose 15.2% year over year to $6.36 billion, beating the Zacks Consensus Estimate of $6.01 billion by 5.9%. Higher realized gold prices supported sales growth, partly offset by lower gold volumes.
Newmont Corporation Price, Consensus and EPS Surprise
Newmont Corporation price-consensus-eps-surprise-chart | Newmont Corporation Quote
Operational Highlights
Newmont’s attributable gold production in the third quarter of 2026 was approximately 1.3 million ounces, down 8.5% year over year. The figure surpassed our estimate of 1.26 million.
The average realized price of gold rose approximately 22% year over year to $4,317 per ounce, but declined from $4,414 in the preceding quarter. The figure lagged our estimate of $4,427.6 per ounce.
The company’s CAS for gold on a co-product basis was $1,449 per ounce, up 22.3% year over year. The figure declined from $1,463 per ounce in the prior quarter. The figure was above our estimate of $1,337.6 per ounce.
AISC for gold on a co-product basis increased 25.4% year over year to $1,963 per ounce. The figure was up from $1,938 per ounce in the preceding quarter. The figure exceeded our estimate of $1,961 per ounce.
NEM's Cash Flow and Balance Sheet Remain Strong
Net cash provided by operating activities increased 20.5% year over year to $2.77 billion from $2.3 billion. Free cash flow rose 22.4% to $1.91 billion from $1.56 billion in the prior-year quarter.
Cash and cash equivalents totaled $8.83 billion at the end of September 2026, up 56.5% year over year. Debt stood at approximately $5.09 billion, down 1.8% from the year-ago level.
Newmont ended the quarter with approximately $12.8 billion in total liquidity, including available revolving credit capacity. Its net cash position was approximately $3.2 billion, providing financial flexibility for capital investment and shareholder returns.
Newmont Maintains Production Guidance, Cuts Cost Outlook
Newmont remains on track to achieve its full-year 2026 attributable gold production guidance of approximately 5.26 million ounces. The company expects the fourth quarter to be its strongest production period of the year.
Higher output is anticipated at Tanami, Cerro Negro, Ahafo North and Lihir. However, ongoing El Niño-related conditions affecting water availability at Lihir could impact production and costs.
Newmont improved its full-year gold by-product CAS guidance to $925 per ounce and AISC guidance to $1,520 per ounce. Sustaining capital expenditures are projected at $1.35 billion, while development capital expenditures are expected to total $900 million.
NEM’s Price Performance
Shares of Newmont have gained 28.3% over the past year compared with the 9.1% rise in its industry.
Image Source: Zacks Investment Research
NEM’s Zacks Rank & Key Picks
NEMcurrently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Reliance, Inc. (RS - Free Report) , Cabot Corporation (CBT - Free Report) and Avient Corporation (AVNT - Free Report) .
RS currently sports a Zacks Rank #1 (Strong Buy), while CBT and AVNT carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here
The Zacks Consensus Estimate for RS’ 2026 earnings is pegged at $23.70 per share, indicating a 66.2% year-over-year surge. RSshares have gained 50.8% over the past year.
The Zacks Consensus Estimate for CBT’s current fiscal-year earnings is pinned at $6.35 per share. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, with an average surprise of 4.56%.CBTshares have gained 4.2% over the past year.
The Zacks Consensus Estimate for AVNT’s fiscal 2026 earnings is pegged at $3.2 per share, indicating a year-over-year rise of 13.48%. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 3.4%.