Jun 2026 (Q2 FY26) — Jul 23, 2026
Newmont Q2 FY26 — Strong Operational Performance Drives Record Free Cash Flow and Shareholder Returns
Read the full callNewmont (NEM) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Newmont earnings: last reported Thu, 23 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 6,118 | +15.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 2,202 | +6.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
18 of 24 judged targets kept · 24 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Full recovery of Cadia after the April 2026 seismic event | full recovery by the end of the second quarter of 2026 | Mar 2026 | Production from the operating caves resumed in mid-June | Achieved |
| Completion of the Tanami underground materials handling system | materials handling system complete by the end of the second quarter of 2026 | Mar 2026 | the second expansion at Tanami continues to progress to plan with all underground infrastructure expected to be completed by the end of the third quarter | Missed |
| Access to Kapit ounces from the Lihir nearshore barrier | over 5 million ounces unlocked, mine life extended beyond 2040 | Dec 2025 | mobilization of the nearshore barrier will ramp up in the third quarter, unlocking access to more than 5 million ounces beginning in 2028 | On Track |
6 of NEWMONT Corp /DE/'s 48 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 45 more targets are in the full ledger.
Claimed
- Produced 1.3 million ounces of gold, 17,000 tonnes of copper, and 7 million ounces of silver from the full portfolio in Q2 FY26.
- Generated a second quarter record of $2.2 billion in free cash flow.
- Returned approximately $1.9 billion to shareholders since the last earnings call through dividends and share repurchases.
- Reduced share count by over 100 million shares, or approximately 9%, since the repurchase program began over two years ago.
- Red Chris block cave project received key regulatory approvals, including an amended Environmental Assessment Certificate.
Qualified
- Higher oil prices contributed to an expected increase in second quarter costs, with a potential $60 million impact for every $10 per barrel change in oil price on a full-year basis.
- Working capital was a modest use of cash during the quarter, primarily reflecting reclamation spending, inventory builds, and timing of cash tax payments.
- Cadia's PC1-2 cave establishment remains halted pending regulatory approvals following the April seismic event, though operating caves have resumed.
- Ongoing discussions with Barrick regarding the Nevada Gold Mines joint venture have several key issues still unresolved, including the proposed IPO and contribution process for excluded properties.
Price
$118.01 −0.50% · −$0.59
Performance +30.0% 1Y
1Y: $90.77 on 17 Oct 2025 → $118.01. High $135.14 (25 Aug 2026), low $78.63 (27 Oct 2025).
- Previous close
- $118.6
- 52-week range
- $78.63 – $135.14
- One year
- +24.37%
Overview
- Symbol
- NEM
- Sector
- Materials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
18 of 24 judged targets kept · 24 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Full recovery of Cadia after the April 2026 seismic event | full recovery by the end of the second quarter of 2026 | Mar 2026 | Production from the operating caves resumed in mid-June | Achieved |
| Completion of the Tanami underground materials handling system | materials handling system complete by the end of the second quarter of 2026 | Mar 2026 | the second expansion at Tanami continues to progress to plan with all underground infrastructure expected to be completed by the end of the third quarter | Missed |
| Access to Kapit ounces from the Lihir nearshore barrier | over 5 million ounces unlocked, mine life extended beyond 2040 | Dec 2025 | mobilization of the nearshore barrier will ramp up in the third quarter, unlocking access to more than 5 million ounces beginning in 2028 | On Track |
Claimed
- Produced 1.3 million ounces of gold, 17,000 tonnes of copper, and 7 million ounces of silver from the full portfolio in Q2 FY26.
- Generated a second quarter record of $2.2 billion in free cash flow.
- Returned approximately $1.9 billion to shareholders since the last earnings call through dividends and share repurchases.
- Reduced share count by over 100 million shares, or approximately 9%, since the repurchase program began over two years ago.
- Red Chris block cave project received key regulatory approvals, including an amended Environmental Assessment Certificate.
Qualified
- Higher oil prices contributed to an expected increase in second quarter costs, with a potential $60 million impact for every $10 per barrel change in oil price on a full-year basis.
- Working capital was a modest use of cash during the quarter, primarily reflecting reclamation spending, inventory builds, and timing of cash tax payments.
- Cadia's PC1-2 cave establishment remains halted pending regulatory approvals following the April seismic event, though operating caves have resumed.
- Ongoing discussions with Barrick regarding the Nevada Gold Mines joint venture have several key issues still unresolved, including the proposed IPO and contribution process for excluded properties.
The full ledger
Open NEWMONT Corp /DE/’s full ledger
A free account opens 5 company ledgers a month. All 48 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 23, 2026
Newmont Q1 FY26 — Record Free Cash Flow and New Share Repurchase Authorization
Read the full callDec 2025 (Q4 FY25) — Feb 19, 2026
Newmont Q4 FY25 — Strong Finish, Enhanced Capital Allocation, and Production Growth Outlook
Read the full callEvery analysed call
Newmont earnings calls (NEM)
Financials
What the filings say
Net profit, year on year: +7% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 4,605 | 5,652 | 5,010 | 5,317 | 5,524 | 6,818 | 7,307 | 6,118 |
| Expenses | 3,477 | 3,692 | 2,761 | 2,249 | 2,948 | 3,750 | 2,841 | 3,022 |
| Other income | -69 | 94 | 222 | 50 | -69 | 178 | 117 | -97 |
| Profit before tax | 1,059 | 2,054 | 2,471 | 3,118 | 2,507 | 3,246 | 4,583 | 2,999 |
| Tax rate | 23.0% | 34.2% | 26.2% | 35.0% | 31.4% | 63.8% | 30.6% | 31.7% |
| Net profit | 922 | 1,403 | 1,891 | 2,061 | 1,832 | 1,301 | 3,262 | 2,202 |
| EPS ($ per share) | 0.80 | — | 1.68 | 1.86 | 1.67 | — | 3.01 | 2.07 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 855 | 1,298 | 1,287 | 1,276 | 1,279 | 1,854 | 1,813 | 1,753 |
| Reserves | 383 | 2,291 | 4,002 | 3,098 | 916 | -2,996 | -1,320 | 3,431 |
| Total liabilities | 9,203 | 17,557 | 17,490 | 18,703 | 18,949 | 26,301 | 26,240 | 23,079 |
| Fixed assets | 12,258 | 25,276 | 24,281 | 24,124 | 24,073 | 37,563 | 33,547 | 33,310 |
| Investments | 48 | 237 | 290 | 82 | 880 | 23 | 21 | 594 |
| Total assets | 20,715 | 39,974 | 41,369 | 40,564 | 38,482 | 55,506 | 56,349 | 57,121 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,827 | 2,866 | 4,882 | 4,279 | 3,220 | 2,763 | 6,363 | 10,334 |
| Cash from investing | -1,177 | -1,226 | 91 | -1,868 | -2,983 | -1,002 | -2,702 | 606 |
| Cash from financing | -455 | -2,777 | -1,680 | -2,958 | -2,356 | -1,603 | -2,953 | -7,040 |
| Net cash flow | 191 | -1,140 | 3,299 | -555 | -2,149 | 156 | 550 | 4,034 |
| Capital expenditure | -1,032 | -1,463 | -1,302 | -1,653 | -2,131 | -2,666 | -3,402 | -3,035 |
| Free cash flow | 795 | 1,403 | 3,580 | 2,626 | 1,089 | 97 | 2,961 | 7,299 |
NEM revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Boddington | 43% | 50% | 49% | 51% | 48% | 51% | 36% | 61% | +37.6% |
| Penasquito | 52% | 73% | 78% | 77% | 84% | 67% | 81% | 54% | -18.6% |
| Nevada Gold Mines | 27% | 26% | 25% | 29% | 32% | 37% | 32% | 35% | +36.5% |
| Cadia | 55% | 38% | 53% | 56% | 49% | 46% | 51% | 28% | -42.1% |
| Lihir | 14% | 15% | 18% | 19% | 17% | 16% | 15% | 21% | +23.8% |
| Yanacocha | 10% | 9% | 11% | 17% | 19% | 16% | 19% | 19% | +30.3% |
| Ahafo South | — | — | — | — | — | — | 16% | 14% | — |
| Tanami | 11% | 11% | 8% | 11% | 13% | 14% | 12% | 13% | +36.0% |
| Red Chris | 8% | 9% | 11% | 11% | 11% | 12% | 10% | 11% | +13.7% |
| Merian Gold Project | 7% | 7% | 6% | 8% | 6% | 9% | 11% | 11% | +48.9% |
| Ahafo North | — | — | — | — | — | — | 9% | 10% | — |
| Brucejack | 11% | 6% | 5% | 6% | 10% | 8% | 8% | 8% | +57.1% |
| Cerro Negro | 7% | 7% | 4% | 4% | 7% | 8% | 7% | 8% | +105.4% |
| Porcupine | 7% | 6% | 6% | 1% | 0% | 0% | 0% | 0% | -100.0% |
| Akyem | 5% | 4% | 5% | 1% | 0% | 0% | 0% | 0% | -100.0% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
NEM operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|
| Production volume Copper | 35K tonsDuring the first quarter, we produced 1.5 million ounces of gold and 35,000 tonnes of copper, in line with our full year guidance and the indications we provided on our last earnings call.Source: earnings call transcript | 30K tonsIn the first quarter, we produced 1.3 million ounces of gold, 30,000 tonnes of copper and 9 million ounces of silver, with both copper and silver volumes supporting a favorable by-product cost profile for the quarter.Source: earnings call transcript | 17K tonsIn the second quarter, we produced 1.3 million ounces of gold, 17,000 tonnes of copper and 7 million ounces of silver from the full portfolio.Source: earnings call transcript | -43.3% |
| Capital expenditures Sustaining capital | $459MAnd in the first quarter, we incurred $459 million in sustaining capital and $323 million in development capital as we continue to advance our highest-return projects from our deep organic pipeline.Source: earnings call transcript | $381MWe continue to invest in sustaining capital to strengthen the longevity and integrity of our portfolio, with $381 million spent in the first quarter.Source: earnings call transcript | $438MBeginning with the sustaining capital, we invested $438 million in the second quarter to support safe production and long-term sustainable cash generation.Source: earnings call transcript | +15% |
| Capital expenditures Development capital | $323MAnd in the first quarter, we incurred $459 million in sustaining capital and $323 million in development capital as we continue to advance our highest-return projects from our deep organic pipeline.Source: earnings call transcript | $239MWe continue to invest in development capital to advance our highest return opportunities from our deep organic pipeline with $239 million deployed in the first quarter.Source: earnings call transcript | — | -26% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
93 filings between Oct 30, 2025 and Oct 1, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$13.22M
25 sales by 9 insiders
88% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 34
- Award — granted as compensation
- 32
- Tax withheld — shares kept back by the company to cover tax
Also filed: 2 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Toth Peter | — | $2.58M | Oct 1, 2026 |
| Viljoen Natascha | — | $2.14M | Oct 1, 2026 |
| Fry David James | — | $2.05M | Mar 16, 2026 |
| Rodgers Mark C | — | $1.65M | Mar 3, 2026 |
| Wexler Peter | — | $1.47M | May 1, 2026 |
| Thornton David John | — | $1.35M | May 1, 2026 |
| Tabolt Brian | — | $1.20M | Aug 5, 2026 |
| Palmer Thomas Ronald | — | $406.7K | Nov 3, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 1, 2026 | Viljoen Natascha President & CEO | Sale 10b5-1 plan | 3,882 | $445.7K |
| Oct 1, 2026 | Toth Peter EVP, Chief Sustain & Dev Off | Sale 10b5-1 plan | 3,000 | $344.4K |
| Sep 2, 2026 | Beaven Peter David Director | Award | 1,092 | $0 |
| Sep 1, 2026 | Toth Peter EVP, Chief Sustain & Dev Off | Sale 10b5-1 plan | 3,000 | $369.0K |
| Sep 1, 2026 | Viljoen Natascha President & CEO | Sale 10b5-1 plan | 3,882 | $477.5K |
| Aug 24, 2026 | BOYCE GREGORY H Director | Gift | 46,871 | $0 |
| Aug 24, 2026 | BOYCE GREGORY H Director | Gift | 46,871 | $0 |
| Aug 5, 2026 | Tabolt Brian Chief Financial Officer | Sale | 11,445 | $1.20M |
| Aug 5, 2026 | Viljoen Natascha President & CEO | Sale 10b5-1 plan | 7,764 | $807.5K |
| Aug 3, 2026 | Toth Peter EVP, Chief Sustain & Dev Off | Sale 10b5-1 plan | 3,000 | $280.4K |
| Jul 28, 2026 | Wexler Peter Chief Legal Officer | Tax withheld | 2,291 | $214.1K |
| Jul 27, 2026 | Tabolt Brian Chief Financial Officer | Award | 7,275 | $0 |
| Jul 27, 2026 | Fry David James EVP, Project Development | Award | 3,691 | $0 |
| Jul 27, 2026 | Thornton David John Chief Technical Officer | Award | 2,674 | $0 |
| Jul 27, 2026 | Wexler Peter Chief Legal Officer | Award | 5,349 | $0 |
| Jul 27, 2026 | Rodgers Mark C Chief Operating Officer | Award | 6,954 | $0 |
| Jul 1, 2026 | Toth Peter EVP, Chief Sustain & Dev Off | Sale 10b5-1 plan | 3,000 | $277.1K |
| Jun 1, 2026 | Viljoen Natascha President & CEO | Sale 10b5-1 plan | 3,882 | $408.9K |
| Jun 1, 2026 | Toth Peter EVP, Chief Sustain & Dev Off | Sale 10b5-1 plan | 3,000 | $316.0K |
| May 14, 2026 | Leyva Deborah Interim Chief People Officer | Award | 1,938 | $0 |
| May 13, 2026 | BOYCE GREGORY H Director | Award | 1,719 | $0 |
| May 13, 2026 | Layman Sally-Anne Director | Award | 1,645 | $0 |
| May 13, 2026 | FitzGerald Emma Director | Award | 1,645 | $0 |
| May 13, 2026 | Madero Garza Jose Manuel Director | Award | 1,645 | $0 |
| May 13, 2026 | Medori Rene Director | Award | 1,645 | $0 |
| May 13, 2026 | Conger Harry M. IV Director | Award | 1,645 | $0 |
| May 13, 2026 | Brook Bruce R Director | Award | 1,645 | $0 |
| May 13, 2026 | Nelson Jane Director | Award | 1,645 | $0 |
| May 13, 2026 | Seaton David Thomas Director | Award | 1,645 | $0 |
| May 13, 2026 | CLARK MAURA J Director | Award | 1,645 | $0 |
| May 13, 2026 | Quintana Julio M Director | Award | 1,645 | $0 |
| May 1, 2026 | Wexler Peter EVP, CLO & Interim CFO | Sale 10b5-1 plan | 13,378 | $1.47M |
| May 1, 2026 | Toth Peter EVP, Chief Sustain & Dev Off | Sale 10b5-1 plan | 3,000 | $330.3K |
| May 1, 2026 | Thornton David John MD, Americas | Sale 10b5-1 plan | 2,296 | $252.8K |
| Apr 30, 2026 | Thornton David John MD, Americas | Tax withheld 10b5-1 plan | 1,805 | $194.2K |
| Apr 30, 2026 | Wexler Peter EVP, CLO & Interim CFO | Tax withheld 10b5-1 plan | 4,666 | $502.1K |
| Apr 30, 2026 | Wexler Peter EVP, CLO & Interim CFO | Tax withheld 10b5-1 plan | 5,742 | $617.9K |
| Apr 1, 2026 | Toth Peter EVP, Chief Sustain & Dev Off | Sale 10b5-1 plan | 3,000 | $339.3K |
| Mar 18, 2026 | Toth Peter EVP, Chief Sustain & Dev Off | Sale 10b5-1 plan | 3,000 | $324.0K |
| Mar 16, 2026 | Fry David James Group Head Projects & Studies | Sale | 18,394 | $2.05M |
| Mar 3, 2026 | Thornton David John MD, Americas | Sale 10b5-1 plan | 8,060 | $973.5K |
| Mar 3, 2026 | Rodgers Mark C MD, Africa-Asia Pacific | Sale 10b5-1 plan | 1,361 | $164.4K |
| Mar 2, 2026 | Thornton David John MD, Americas | Sale 10b5-1 plan | 944 | $123.8K |
| Mar 2, 2026 | Thornton David John MD, Americas | Tax withheld 10b5-1 plan | 599 | $76.4K |
| Mar 2, 2026 | Rodgers Mark C MD, Africa-Asia Pacific | Sale 10b5-1 plan | 2,051 | $269.0K |
| Mar 2, 2026 | Hardy Francois EVP & CTO | Tax withheld | 745 | $95.0K |
| Mar 2, 2026 | Toth Peter EVP, Chief Sustain & Dev Off | Tax withheld | 1,161 | $148.0K |
| Mar 2, 2026 | Cmil Jennifer EVP and Chief People Officer | Tax withheld | 893 | $113.8K |
| Mar 2, 2026 | Tabolt Brian SVP & CAO | Tax withheld | 215 | $27.4K |
| Feb 27, 2026 | Thornton David John MD, Americas | Award 10b5-1 plan | 1,361 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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