
• Reported GAAP EPS of $1.19 down -4.03% YoY • Reported revenue of $6.82B up 20.63% YoY • Newmont expects 2026 attributable gold production of approximately 5.3 million ounces, with gold by-product All-In Sustaining Costs of $1,680 per ounce. Sustaining capital is guided at $1.95B, and development capital at $1.4B.
Bullish
Newmont achieved record free cash flow and reduced debt in 2025, enhanced its capital allocation framework with an increased dividend, and continues strategic development to extend mine lives and grow production.
Bearish
Newmont faces increased operating costs and lower gold production guidance for 2026, alongside new Ghanaian taxes and potential royalties, and incurred $779 million in impairment charges in Q4 2025.