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bnnbloomberg.caOCT 232 min read$NEM

Newmont beats quarterly profit estimates on higher gold prices, Cadia recovery

Newmont reported Q3 earnings beating estimates, with revenue up 15% to $6.36B due to higher gold prices and increased copper production. Gold averaged $4,204.59/oz, up 17.6% YoY. Shares rose 1.5% in extended trading. The company plans a $4.2B-$4.8B investment in the Red Chris project and a $1.95B payment to Barrick. CEO Viljoen ruled out a bid for Northern Star Resources.

Original reporting
bnnbloomberg.ca
Published Oct 23, 2026, 12:55 PM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Oct 23, 2026, 3:22 PM UTC. Informational, not investment advice.
How this was made
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Newmont beats quarterly profit estimates on higher gold prices, Cadia recovery — source image
Source · bnnbloomberg.ca
Decision brief

The 30-second read

$NEMBullishHigh
01

Why it matters

The earnings beat, driven by higher gold prices and a rebound in copper output, suggests near‑term upside for the stock and the broader gold mining sector.

02

Market read

Strong earnings and commodity price environment make Newmont a focal point for miners and commodity traders.

03

What to watch

Potential cost overruns on the Red Chris project and the $1.95 bn payment to Barrick could pressure cash flow.

Relevance 8/10Novelty 8/10Timing: after-hours reaction

Background

Newmont is the world's largest gold producer; its Q3 results are closely watched by commodity‑focused investors.

Company-level read

Ticker impact

$NEMBullishHigh confidence
Context

Newmont reported Q3 adjusted profit of $2.20 per share beating the $2.05 estimate and revenue up 15%, with gold prices at $4,204/oz.

Expected impact

likely upward pressure as the market prices in the earnings beat and gold price strength

Evidence & confidence

The beat is the first report of the quarter's results, includes concrete numbers, and the stock already rose 1.5% in extended trading.

Market effects

Sector

Gold miners may see broader upside as higher spot gold prices lift earnings expectations.

Regional

Australian mining sector could benefit from the Cadia production recovery.

Global

Higher gold prices reinforce safe‑haven demand amid geopolitical tensions.

Counterpoint

What could challenge this read

If gold prices reverse lower, the earnings beat may be short‑lived and the stock could face profit‑taking.

Key entities

  • company
    Newmont Corp

    Global gold mining company (ticker NEM).

  • company
    Barrick Gold

    Partner in the Nevada Gold Mines joint venture.

Read at source← All news

StoryNewmont posts record Q3 adjusted net income, confirms 2026 production guidance and outlines major project updates

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