Newmont Corporation (NEM) reported second-quarter earnings on July 30, 2026, posting a profit of $2.06 per share compared to $1.85 in the same quarter last year. Adjusted earnings increased by 46.9% to $2.10, surpassing the Zacks Consensus Estimate of $2.05. Revenues reached approximately $6.12 billion, up 15.1% year-over-year but fell short of expectations at $6.35 billion, primarily due to higher gold prices offset by lower sales volumes.
The company produced around 1.29 million ounces of gold, a decrease of 12.5% from the previous year, yet exceeding estimates of 1.23 million ounces. The average realized price of gold rose to $4,414 per ounce, a 33% increase, although it lagged behind the estimate of $4,913. Newmont’s cash and equivalents stood at roughly $9 billion, up 45.7% year-over-year, while net cash provided by operating activities was $2.92 billion, up 22.7% from the previous year.
Looking ahead, Newmont expects total gold production of approximately 5.26 million ounces for 2026, with a forecast for gold by-product costs at $1,055 per ounce and all-in sustaining costs at $1,680 per ounce. The company’s shares have seen a 44% increase over the past year.
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