Newmont Q3 Adjusted Net Income Hits Record $2.3 Billion at $2.20 a Share; Gold Output 1.30 Million Ounces, Free Cash Flow $1.9 Billion
DENVER — Newmont Corporation (NYSE: NEM), the world's largest gold producer, on October 22 reported third-quarter 2026 results after the North American market close. According to the company's official earnings release issued via Business Wire, net income attributable to Newmont stockholders was $2,475 million, or $2.35 per diluted share; adjusted net income was $2,309 million, or $2.20 per diluted share, a record for a third quarter; and adjusted EBITDA was $3,951 million. The company declared a third-quarter dividend of $0.26 per share, payable on December 21, 2026, to holders of record at the close of business on November 25, 2026.
Attributable gold production rose 1% from the prior quarter to 1,302 thousand ounces, driven by higher production at Cadia after its recovery from a second-quarter seismic event, higher output at Brucejack and higher throughput, grades and recoveries at Peñasquito, partly offset by planned maintenance at Lihir and Boddington and mine-plan sequencing at Yanacocha. Consolidated gold sales were 1,211 thousand ounces. Copper production rose 35% to 23 thousand tonnes and silver production rose 57% to 11 million ounces. The average realized gold price was $4,317 per ounce, down $97 from the prior quarter.
Gold by-product costs applicable to sales were $832 per ounce, down 20% from the prior quarter, and gold by-product all-in sustaining costs were $1,454 per ounce, down 10%. Net cash from operating activities was $2,768 million and free cash flow was $1,912 million. Newmont ended the quarter with $8.8 billion of cash, $12.8 billion of total liquidity and a net cash position of $3.2 billion.
"Newmont remains on track to achieve our full-year 2026 production guidance and improved full-year cost outlook, supported by disciplined operational execution in the third quarter, demonstrating the strength and resilience of our world-class portfolio," said Natascha Viljoen, Newmont's president and chief executive officer. "We produced approximately 1.3 million attributable gold ounces, and generated $1.9 billion of free cash flow." The release said the company has repurchased $1.6 billion of stock since the last earnings call, with $2.8 billion remaining under its $6.0 billion authorization, and has cut its share count by more than 115 million shares, about 10%, since February 2024.
For the full year, Newmont kept its attributable gold production guidance at about 5.26 million ounces and improved its unit-cost guidance to by-product CAS of $925 per ounce and AISC of $1,520 per ounce, expecting the fourth quarter to be its strongest production quarter of the year. The company also announced an amended Nevada Gold Mines joint-venture agreement bringing in previously excluded assets — Barrick's Fourmile and Newmont's Fiberline and Mike — under which it expects to pay Barrick $1.95 billion in the fourth quarter. The Red Chris block cave project is advancing toward a full-funds investment decision in early 2027, and shaft construction at Tanami Expansion 2 is complete, with commercial production now expected in the first half of 2027.
Published by GSM · USA (original Chinese edition)
Photo: 图：纽蒙特旗下内华达州Gold Quarry金矿航拍（资料图）。照片：Uncle Kick-Kick，CC BY-SA 2.0，经Wikimedia Commons。Aerial view of Newmont's Gold Quarry mine in Nevada (file photo). Photo: Uncle Kick-Kick, CC BY-SA 2.0, via Wikimedia Commons.
