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

Core Insights - Newmont Corporation (NEM) reported fourth-quarter 2025 earnings of $1.19 per share, a decrease from $1.24 in the same quarter last year, but adjusted earnings rose to $2.52 per share from $1.40, exceeding the Zacks Consensus Estimate of $2.03 [1][8] Financial Performance - Revenues for the fourth quarter reached $6,818 million, a 20.6% increase from $5,652 million in the prior-year quarter, surpassing the Zacks Consensus Estimate of $6,056 million, driven by higher realized gold prices [2][8] - The company's cash and cash equivalents stood at $7,647 million, up 111.3% year over year, while long-term debt decreased by 32.3% to $5,115 million [5][8] Operational Highlights - Attributable gold production for the fourth quarter was 1.45 million ounces, a 2% increase from the previous quarter but down 23.7% year over year, exceeding the estimate of 1.42 million ounces [3][8] - Average realized gold prices increased by 59.5% year over year to $4,216 per ounce, surpassing the estimate of $3,560 per ounce [3][8] Cost Analysis - Costs applicable to sales (CAS) for gold were $1,166 per ounce, a 6.4% increase year over year, but below the estimate of $1,175 per ounce [4] - All-in-sustaining costs (AISC) for gold rose by 10.7% year over year to $1,620 per ounce, higher than the estimate of $1,531 per ounce [4] Future Outlook - Newmont anticipates gold production for 2026 to be approximately 5.26 million ounces, with projected total CAS for gold at $1,055 per ounce and AISC at $1,680 per ounce [6] - General and Administrative expenses for 2026 are expected to be around $375 million, with reclamation and remediation accretion projected at $385 million and exploration expenses at $525 million [6] Stock Performance - Newmont's shares have increased by 176.6% over the past year, outperforming the industry average rise of 144.4% [7][8]