GET DAILY SIGNALSNewmont (NEM) Delivers Strong Q3 Results With Record Adjusted Earnings
Key Takeaways
- Newmont reported third quarter 2026 revenue of $6.36 billion, up from $5.52 billion a year earlier.
- Adjusted earnings per share (EPS) reached $2.20, exceeding the consensus estimate of $1.94 by roughly 13%.
- Net income attributable to stockholders rose to $2.48 billion, or $2.35 per diluted share, compared with $1.83 billion, or $1.67, a year ago.
- The company generated $1.9 billion in free cash flow and ended the quarter with a $3.2 billion net cash position.
- Management reaffirmed full-year 2026 production guidance of approximately 5.3 million attributable gold ounces and improved its full-year cost outlook.
Why These Results Matter for Gold Investors
As the world’s leading gold producer and the only gold miner in the S&P 500 Index, Newmont (NEM) serves as a key indicator for the broader precious metals sector. Its quarterly numbers give investors a clear view of how elevated gold prices are flowing through to profitability, cash generation, and returns for shareholders. The third quarter also acts as an important checkpoint on the 2026 outlook, especially since management had indicated earlier that production would be weighted toward the second half. With gold prices near record levels, this report helps show whether Newmont (NEM) is turning favorable commodity conditions into lasting per-share value or whether rising costs and royalties are eating into margins.
Breaking Down the Reported Numbers
For the third quarter ended September 30, 2026, Newmont (NEM) posted revenue of $6.36 billion, a 15% increase from $5.52 billion in the prior-year period. Net income attributable to stockholders climbed to $2.48 billion, or $2.35 per diluted share, up from $1.83 billion, or $1.67 per share, a year earlier.
On an adjusted basis, the company earned $2.30 billion, or $2.20 per diluted share, which beat the consensus estimate of $1.94 by a solid margin and set a new record for a third quarter. Adjusted EBITDA came in at approximately $3.95 billion, compared with $3.30 billion a year ago. Cash flow from operations reached $2.8 billion after working capital adjustments, and free cash flow totaled $1.9 billion.
Operationally, Newmont (NEM) produced roughly 1.3 million attributable gold ounces, 23 thousand tonnes of copper, and 11 million ounces of silver. The average realized gold price was $4,320 per ounce. Gold all-in sustaining costs came in at $1,450 per ounce on a by-product basis, improving sequentially from the second quarter thanks to higher volumes, stronger copper prices, and lower operating costs at certain sites. The company also declared a quarterly dividend of $0.26 per share. I checked the peer comparison using Tickeron’s AI Screener to see how these margins stack up against other large miners.
Market Reaction and What Investors Are Watching
Newmont (NEM) shares closed modestly lower after the release, slipping about 0.7% to $162.00 on October 23, 2026, even though results topped analyst estimates. The muted reaction is fairly typical when strong gold prices and solid results are already partly priced in, and it may also reflect some profit-taking after the year-to-date run. Broader sentiment around the stock remains tied to the gold price, but focus is shifting toward cost trends, capital allocation discipline, and the pace of share repurchases. The company noted it has returned more than 80% of year-to-date free cash flow to shareholders and has repurchased over 115 million shares since February 2024, representing roughly 10% of shares outstanding.
Looking Ahead: Guidance and Key Projects
Management reaffirmed its full-year 2026 production target of approximately 5.3 million attributable gold ounces and improved its full-year cost guidance, signaling that the strongest production quarter is still ahead. Investors will want to see whether fourth-quarter output and unit costs confirm that path.
Several project milestones are worth tracking. At Tanami in Australia, construction of the 1.5-kilometer shaft for the second expansion is complete, with commercial production now expected by the end of the second quarter of 2027, earlier than previously guided. At Cadia, the panel cave projects continue to advance, while higher-grade ore is expected at Lihir in the fourth quarter.
The Red Chris block cave project in British Columbia remains the largest single catalyst on the horizon, with a full-funds investment decision anticipated early in 2027. The company also expects to close an amended Nevada Gold Mines joint venture agreement in the fourth quarter, which involves a $1.95 billion payment. Cost trends, gold and copper price movements, and the pace of share repurchases will continue to be key factors for per-share results in the quarters ahead. I ran a quick scan with Tickeron’s AI Pattern Search Engine to monitor how similar setups have played out in past cycles.
My Experience Using Tickeron’s AI Tools
I’ve found Tickeron’s AI Screener particularly helpful during earnings season for quickly filtering names by fundamentals, technical patterns, and AI-driven signals. It lets me compare Newmont (NEM) against industry peers on metrics like free cash flow yield and cost trends without spending hours on manual spreadsheets. The platform’s ability to surface breakout candidates and volatility profiles has become a regular part of my workflow when evaluating miners and other resource stocks.
Disclaimer
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Contributor
Financial writer and active order flow futures trader with a focus on fundamental analysis, macroeconomic factors, and equity research. I make in-depth blogs on stocks and ETFs, bridging the gap between raw market data and real-world trading decisions.
NEM in -1.51% downward trend, falling for three consecutive days on October 20, 2026
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where NEM declined for three days, in 181 of 276 cases, the price declined further within the following month. The odds of a continued downward trend are 66%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 40 of 62 cases where NEM's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 65%.
The Momentum Indicator moved below the 0 level on October 22, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on NEM as a result. In 47 of 79 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 59%.
NEM moved below its 50-day moving average on September 30, 2026 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for NEM crossed bearishly below the 50-day moving average on October 06, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 6 of 12 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 50%.
The Aroon Indicator for NEM entered a downward trend on October 22, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for NEM just turned positive on October 19, 2026. Looking at past instances where NEM's MACD turned positive, the stock continued to rise in 41 of 59 cases over the following month. The odds of a continued upward trend are 69%.
Following a +6.31% 3-day Advance, the price is estimated to grow further. Considering data from situations where NEM advanced for three days, in 252 of 324 cases, the price rose further within the following month. The odds of a continued upward trend are 78%.
NEM may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is 33 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 65, placing this stock better than average.
The Tickeron SMR rating for this company is 38 (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is 43 (best 1 - 100 worst), indicating steady price growth. NEM’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 48 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of 93 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.412) is normal, around the industry mean (1.927). P/E Ratio (14.335) is within average values for comparable stocks, (-15.408). Projected Growth (PEG Ratio) (2.781) is also within normal values, averaging (2.614). Dividend Yield (0.009) settles around the average of (0.345) among similar stocks. P/S Ratio (5.144) is also within normal values, averaging (7.321).
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General Information
a company which explores and mines for gold and silver
Industry PreciousMetals
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