Newmont Tops Q3 Earnings Estimates on Strong Gold Sales; Lowers 2026 Cost Outlook

Newmont Corporation surpassed analyst expectations in the third quarter with adjusted earnings of $2.20 per share versus the $1.94 consensus. Higher gold sales volumes and elevated metal prices drove profitability even as realized gold prices fell quarter-over-quarter. Attributable production climbed 7% to 1.3 million ounces.

The miner lowered its full-year 2026 cost guidance, cutting AISC to $1,520 per ounce from $1,590 and costs applicable to sales to $925. Annual production guidance remains at 5.9 million ounces. Operating cash flow reached $2.8 billion and free cash flow totaled $1.9 billion.

CEO Natascha Viljoen confirmed the company is on track for its targets thanks to disciplined execution. The balance sheet stays strong with $8.8 billion in cash and $12.8 billion in liquidity. The Tanami Expansion 2 shaft was completed ahead of schedule, with commercial production now slated for the first half of 2027.