Newmont Corporation NEM 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, Cabot Corporation CBT and Avient Corporation AVNT.
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%.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This innovative software-as-a-service firm upped its user base +22% year over year. That rate is increasing and margins are expanding as AI efficiencies take effect. Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Newmont Corporation (NEM): Free Stock Analysis Report
Reliance, Inc. (RS): Free Stock Analysis Report
Cabot Corporation (CBT): Free Stock Analysis Report
Avient Corporation (AVNT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).