Newmont Q3 revenue beats estimates on higher gold prices

Overview

• Newmont Corp Q3 revenue beats analyst expectations, driven by higher realized gold prices

• Adjusted EPS for Q3 exceeds consensus, reflecting strong operational performance

• Company reports record free cash flow of $1.6 bln, marking fourth consecutive quarter over $1 bln

Outlook

• Newmont improves 2025 guidance for cost metrics and capital spend

• Company expects Q4 production in line with Q3, driven by Ahafo North

• 2026 production expected within 2025 guidance range

Result Drivers

• COST SAVINGS - Newmont's cost savings initiatives led to improved 2025 cost and capital guidance

• ASSET SALES - Co received $640 mln from asset and equity sales, contributing to cash flow

• HIGHER GOLD PRICES - Increased average realized gold price to $3,539/oz supported revenue growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the gold peer group is "buy"

• Wall Street's median 12-month price target for Newmont Corporation is $104.00, about 17% above its October 21 closing price of $86.32

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nBw64wvhHa

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