NEM +0.72%: reported a very strong 1Q result, with earnings, cash flow and margins all beating expectations as the gold price rally continues to flow through the business.
- EPS: $2.90 vs $2.24 est
- Free cash flow: $3.14bn
- AISC: $1,709/oz vs $1,815 est.
- EBITDA: $5.15bn
The standout was the realised gold price of around US$4,900/oz, which drove record cash generation alongside better-than-expected cost control. The company also announced an additional US$6bn share buyback, highlighting the strength of the balance sheet and capital return capacity.
Production guidance for FY26 remains unchanged at roughly 5.3Moz, with output expected to be weighted toward the second half. In the current gold price environment, the combination of strong margins and disciplined costs continues to underpin Newmont’s powerful cash flow profile.
MM is bullish NEM ~$155
Add To Hit List
