NEM's Earnings and Sales Top Estimates in Q4 on Higher Gold Prices

Newmont Corporation NEM reported fourth-quarter 2025 earnings of $1.19 per share compared with $1.24 in the year-ago quarter.

Barring one-time items, adjusted earnings were $2.52 per share, up from $1.40 reported in the prior-year quarter. It topped the Zacks Consensus Estimate of $2.03.

NEM’s revenues for the fourth quarter were $6,818 million, up roughly 20.6% from $5,652 million reported in the prior-year quarter. The figure topped the Zacks Consensus Estimate of $6,056 million. The increase in the top line was primarily due to higher year-over-year realized gold prices.

Newmont Corporation Price, Consensus and EPS Surprise

Newmont Corporation price-consensus-eps-surprise-chart | Newmont Corporation Quote

Newmont’s Operational Highlights

Newmont's attributable gold production in the fourth quarter of 1.45 million ounces was 2% higher than the prior quarter’s figure and down 23.7% year over year. The figure beat our estimate of 1.42 million ounces.

Average realized prices of gold rose around 59.5% year over year to $4,216 per ounce. The figure topped our estimate of $3,560 per ounce.

The company’s costs applicable to sales (CAS) for gold (co-product) were $1,166 per ounce, up 6.4% year over year. The figure was below our estimate of $1,175 per ounce.

All-in-sustaining costs (AISC) for gold (co-product) were up around 10.7% year over year to $1,620 per ounce. The figure was higher than our estimate of $1,531 per ounce.

NEM’s Financials

The company ended the quarter with cash and cash equivalents of $7,647 million, up 111.3% year over year. At the end of the quarter, the company had a long-term debt of $5,115 million, down 32.3% year over year.

Net cash from continuing operations amounted to $3,621 million in the reported quarter, up from $2,511 million in the year-ago quarter.

Newmont’s 2026 Outlook

Newmont anticipates gold production for 2026 at about 5.26 million ounces. The company also projects total CAS (by-product) for gold at $1,055 per ounce and an AISC (by-product) of $1,680 per ounce.
 
General and Administrative expenses for 2026 are expected to be around $375 million, aided by cost savings. Reclamation and Remediation Accretion is projected to be about $385 million, while exploration and advanced projects expenses are predicted to be around $525 million.

NEM’s Price Performance

Newmont’s shares have gained 176.6% in the past year compared with the 144.4% rise of the industry.

NEM’s Zacks Rank & Key Picks

NEM currently sports a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Orla Mining Ltd. ORLA, Compania de Minas Buenaventura S.A.A. BVN and Avino Silver & Gold Mines Ltd. ASM.

Orla Mining is scheduled to report fourth-quarter results on March 19. The Zacks Consensus Estimate for ORLA’s fourth-quarter earnings is pegged at 38 cents, indicating 442.86% year over year growth. It beat the consensus estimate in each of the last four quarters, with an average surprise of 9%. ORLA currently flaunts a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here. 

Buenaventura is slated to report fourth-quarter results on Feb. 26. The Zacks Consensus Estimate for earnings is pegged at 59 cents per share, indicating 353.9% year over year growth. It beat the consensus estimate in three of the last four quarters, with an average surprise of 28.02%. BVN sports a Zacks Rank #1 at present.

Avino Silver is slated to report fourth-quarter results on March 11. The consensus estimate for ASM’s earnings is pegged at 6 cents. ASM, presently carrying a Zacks Rank #2 (Buy), beat the consensus estimate in the last four quarters, the average earnings surprise being 150%.

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This article originally published on Zacks Investment Research (zacks.com).

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