Newmont reports third-quarter earnings of $2.20 a share and lowers cost guidance

Newmont keeps its 2026 gold output target of 5.3 million ounces and pushes its Red Chris investment decision into early 2027.

Newmont reported third-quarter earnings of $2.20 per share, $0.09 above expectations. Earnings per share is the profit attributed to each share of stock. The company produced about 1.3 million ounces of gold in the quarter and generated $1.9 billion of free cash flow, the cash left after running costs and capital spending. President and Chief Executive Officer Natascha Viljoen attributed the results to disciplined operational execution.

Newmont lowered its expected all-in sustaining costs to $1,520 per ounce of gold. All-in sustaining costs measure the full cost of producing an ounce, including the ongoing spending needed to keep mines running. Its expected costs applicable to sales also fell, to $925 per ounce. The company reaffirmed its 2026 production outlook of 5.3 million gold ounces attributable to Newmont, meaning its share of output.

The company declared a quarterly dividend of $0.26 per share, payable December 21, 2026, to holders of record on November 25, 2026. Since its last earnings call, Newmont has bought back $1.6 billion of its common stock. That leaves $2.8 billion available under its $6.0 billion share repurchase authorization.

The change that matters most is timing at Red Chris. The decision had been expected in the second half of 2026. Newmont now expects a full-funds investment decision, meaning a final commitment to fund the project in full, in early 2027. Total development capital has risen to $4.2 billion to $4.8 billion. With 2026 output unchanged at 5.3 million ounces, the cost and capital revisions, not volume, carry the update. Newmont has kept returning cash through buybacks while the project budget grows.