Newmont Corp (NYSE:NEM) reported third-quarter financial results after the market close on Thursday. Here’s a rundown of the gold miner’s report.
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Q3 Highlights: Newmont posted third-quarter revenue of $5.52 billion, beating analyst estimates of $5.18 billion, according to Benzinga Pro. The company reported third-quarter adjusted earnings of $1.71 per share, beating analyst estimates of $1.42 per share.
Gold production decreased 4% year-over-year to approximately 1.42 million ounces, driven by lower gold grades and planned shutdowns. Average realized gold price was $3,539 per ounce in the quarter.
Newmont said it generated $2.6 billion of cash from operations and $1.6 billion of free cash flow during the quarter. The company ended the period with $5.6 billion of cash and cash equivalents.
“We are making significant progress on the cost savings initiatives announced at the beginning of the year, enabling us to meaningfully improve our 2025 guidance for several cost metrics, while maintaining our outlook for production and unit costs in a rising gold price environment,” said Tom Palmer, CEO of Newmont.
Newmont’s board declared a quarterly cash dividend of 25 cents per share, payable on Dec. 22 to shareholders of record as of Nov. 26.
What’s Next: Newmont expects to produce 1.415 million ounces of gold in the fourth quarter.
The company anticipates interest expenses of $55 million, general and administrative expenses of $100 million and exploration and advanced projects expenses of $150 million in the fourth quarter. The 2025 full-year capital guidance was improved by $200 million in total.
Newmont noted that it expects free cash flow in the fourth quarter to be negatively impacted by the continued increase in spending on construction of water treatment facilities, as well as planned severance payments.
Newmont’s management team will further discuss the quarter on an earnings call at 5:30 p.m. ET.
NEM Price Action: Newmont shares were down 2.77% in after-hours Thursday, trading at $86.45 at the time of publication on Thursday, according to Benzinga Pro.
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