Newmont reported $2.5 billion in third-quarter net income as higher gold sales and stronger copper pricing supported earnings. The miner also lowered its gold all-in sustaining cost and maintained its 2026 production target.

The October 22 results showed adjusted net income of $2.3 billion, or $2.20 per diluted share. Newmont produced 1.3 million attributable gold ounces and generated $1.9 billion in free cash flow during the quarter.

Newmont earnings benefit from gold and copper sales

The company’s SEC-filed earnings release attributed the quarterly profit increase to higher gold sales volumes, higher realized copper prices and lower income and mining taxes. Average realized gold price was $4,317 per ounce, down $97 from the second quarter.

Newmont’s $2.35 GAAP diluted earnings per share differed from adjusted EPS of $2.20. The adjusted calculation excluded items including $116 million in reclamation and remediation charges and a $40 million gain on asset and investment sales.

Gold output rises as unit costs decline

Attributable gold production rose 1% sequentially to 1.302 million ounces. Copper production increased 35% to 23,000 tonnes, while silver output rose 57% to 11 million ounces as operations at Cadia and Peñasquito improved.

Gold by-product costs applicable to sales fell to $832 per ounce. Newmont also reduced its full-year guidance for that measure to $925 per ounce and its all-in sustaining-cost outlook to $1,520 per ounce. Investors tracking the commodity backdrop can compare those figures with Fusion Market News’ Q4 gold-price outlook.

Cash returns and balance-sheet risks

Newmont ended September with $8.8 billion in cash, $12.8 billion in total liquidity and a $3.2 billion net cash position. It returned $1.9 billion through dividends and repurchases since its previous earnings call, including $1.6 billion in stock buybacks.

The balance preceded a planned $1.95 billion payment to Barrick linked to the amended Nevada Gold Mines agreement. Higher fuel costs, project spending and gold-price changes remain material risks, alongside the macro conditions outlined in the coming U.S. market-week preview and supply-chain issues discussed in the critical-materials report.

This article is for informational purposes only and does not constitute investment advice. Commodity and mining stocks can be volatile.

Image credit: Dion Beetson / Unsplash.

Sharron Kendi is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence.