Newmont Corp
NEM - Insider Information
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+ FollowMarket Cap$123.93B
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Earnings Call Q3 2026
October 22, 2026 - AI Summary
Strong Q3 operating + financial performance; record cash flow
- Produced ~1.3 Moz gold, 23 kt copper, and 11 Moz silver in Q3.
- Realized average gold price $4.32k/oz.
- Delivered $1.9B free cash flow and adjusted net income $2.20/share (reported as a Q3 record).
- 9M free cash flow: $7.3B, ~equal to total 2025 FCF, with the “strongest production quarter yet” expected in Q4.
Capital allocation: heavy shareholder returns + ongoing buyback
- Returned ~$1.9B to shareholders since the last call via dividend + share repurchases.
- Repurchased >115M shares (~10% of shares outstanding) since Feb 2024.
- As of the call: repurchased about $1.6B under the $6B authorization; ~$2.8B remaining.
- Dividend: Q3 declared $0.26/share; framework targets ~$1.1B annual cash dividend.
- Management notes the repurchase framework implies $0.27/share quarterly at the next annual review (subject to board declaration in Feb).
2026 outlook upgraded on costs; Q4 production expected to rise
- Company remains “on track” for full-year guidance; Q4 expected production ~1.4 Moz gold (strongest quarter).
- Cost guidance improved: full-year gold AISC ~ $1.52k/oz (about 10% better vs earlier guidance).
- Q4 AISC expected higher at ~$1.9k/oz, driven by timing of sustaining capex, lower silver co-product credits (Penasquito), and inflation/fuel impacts.
- Oil price sensitivity disclosed (direct fuel + indirect consumables effects); management said inflationary pressures are a key watch item.
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$215.90
82.7% upside
Current Fair Value
82.7% upsideUndervalued by 82.7% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $123.93 Billion |
|---|---|
| Enterprise Value | $121.66 Billion |
| Annual dividend | $1.03 |
| Dividend yield | 0.97% |
| Earnings per Share | $6.41 |
| Beta | 0.53 |
| Outstanding Shares | 1,049,000,000 |
Return
| Return on Equity | 17.30% |
|---|---|
| Return on Assets | 10.63% |
| Return on Invested Capital | 12.16% |
Valuation & Multiples
| P/E Ratio | 12.34 |
|---|---|
| PEG | 35.16 |
| Price to Sales | 8.44 |
| Price to Book Ratio | 3.58 |
| Enterprise Value to Revenue | 8.18 |
| Enterprise Value to EBIT | 19.09 |
| Enterprise Value to Net Income | 19 |
| Total Debt to Enterprise | 0.06 |
| Debt to Equity | 0.19 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 22, 2026
EPS Estimate
$1.96
Consensus analyst estimateRevenue Estimate
$6.27 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 18, 2027
EPS Estimate
$2.10
Consensus analyst estimateRevenue Estimate
$6.42 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 1.39, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 1.3872▲ 55.75% |
|---|---|
| Total Calls | 99,050▼ 99.48% |
| Total Puts | 137,400▼ 99.13% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 3.99%▼ 73.83% |
|---|---|
| Total Invested | $4.91B▼ 93.67% |
| Investors Holding | 707▼ 1184.00% |
About Newmont Corp
17,500 employees
CEO: Thomas Palmer
Newmont Corporation is primarily involved in the mining and discovery of gold. The company also actively explores for other metals, such as copper, silver, zinc, and lead. It maintains a global presence, with operations and assets spanni...