Business · Companies · 5 hrs ago
Newmont beats third-quarter profit estimates as gold prices rise
Newmont beat analysts’ third-quarter profit estimates, earning US$2.20 per share on an adjusted basis for the three months ending September 30, 2026.
The world’s largest gold miner benefited from higher gold prices, which averaged US$4,204.59 an ounce during the quarter, up about 17.6% from a year earlier.
Newmont’s average realized gold price was US$4,317 an ounce, compared with US$3,539 a year earlier.
Gold production fell to 1.30 million ounces, down from 1.42 million in the same quarter last year.
Analysts had expected adjusted earnings of US$2.05 per share, according to LSEG data.
Higher prices helped offset lower output, supporting Newmont’s quarterly earnings.
The figures cover the quarter that ended September 30.
Newmont beat analysts’ estimates for third-quarter adjusted profit, earning US$2.20 per share.
Analysts’ average estimate was US$2.05 per share, according to data compiled by LSEG.
The company benefited from higher gold prices, with the metal averaging US$4,204.59 per ounce in the quarter.
Newmont’s gold production fell to 1.30 million ounces from 1.42 million ounces a year earlier.
The quarter ended on Sept. 30, 2026.
- Who
- Newmont, the world’s biggest gold miner.
- What
- It beat analysts’ estimates for third-quarter adjusted profit.
- When
- The quarter ended Sept. 30, 2026; the results were reported on Thursday, Oct. 22.
- Where
- Not stated.
- Why
- Higher gold prices benefited the company.
This story does not have two clearly opposing sides.
Gold averaged US$4,204.59 per ounce, up about 17.6 per cent from a year earlier.
Newmont’s third quarter ended.
Newmont reported quarterly adjusted earnings of US$2.20 per share, above analysts’ average estimate.
- Adjusted earnings
- US$2.20 per share
- Analysts’ average estimate
- US$2.05 per share
- Average gold price
- US$4,204.59 per ounce in the third quarter of 2026
- Realized gold price
- US$4.317 per ounce, compared with US$3,539 a year earlier
- Gold production
- 1.30 million ounces, down from 1.42 million a year earlier