Episode 15 of The SilverTrade Insider: The MATH Behind $16,000 GOLD!
Newmont reported robust second-quarter 2026 results on July 23, delivering strong financial performance despite some operational headwinds.
Key Highlights:
💥Attributable gold production: 1.3 million ounces (down 1% QoQ)
💥Sales: $6.12 billion
💥Net income: $2.2 billion ($2.06 per diluted share)
💥Adjusted net income: $2.2 billion ($2.10 per diluted share)
💥Adjusted EBITDA: $3.8 billion
💥Record free cash flow: $2.2 billion
💥Gold by-product AISC: $1,621/oz
💥Average realized gold price: $4,414/oz
💥Sales: $6.12 billion
💥Net income: $2.2 billion ($2.06 per diluted share)
💥Adjusted net income: $2.2 billion ($2.10 per diluted share)
💥Adjusted EBITDA: $3.8 billion
💥Record free cash flow: $2.2 billion
💥Gold by-product AISC: $1,621/oz
💥Average realized gold price: $4,414/oz
Production was slightly lower due to seismic events at Cadia (operations normalized by mid-June), lower grades at Ahafo South, Peñasquito, and Yanacocha.
These were partially offset by stronger output at Lihir, Boddington, and Pueblo Viejo. Copper, silver, lead, and zinc volumes also declined.
Full-Year 2026 Guidance Remains Intact
Newmont reaffirmed its targets, including:
⛏️Attributable gold production: ~5.26 million ounces (±5%)
⛏️Gold by-product AISC: $1,680/oz
⛏️Sustaining capital: $1.95 billion
⛏️Development capital: $1.4 billion
⛏️Gold by-product AISC: $1,680/oz
⛏️Sustaining capital: $1.95 billion
⛏️Development capital: $1.4 billion
H1 production ran slightly ahead of expectations, with H2 weighted toward Q4.
Shareholder Returns
The company declared a $0.26 per share quarterly dividend (payable Sept. 28) and returned $1.9 billion to shareholders since the last earnings call through dividends and $1.7 billion in share repurchases.
$4.3 billion remains under the current $6 billion buyback program.
Share count has been reduced by over 100 million shares (9%) since early 2024.
CEO Natascha Viljoen said: “Newmont delivered another quarter of strong operational and financial performance, producing approximately 1.3 million attributable gold ounces and generating record second quarter free cash flow of $2.2 billion, while remaining on track to achieve our full-year 2026 guidance… we returned $1.9 billion to shareholders… while continuing to invest in the long-term strength of our business.”
Balance Sheet Strength
Cash stood at $9.0 billion with total liquidity of $13.0 billion and net cash of $3.4 billion.
Overall, a solid quarter driven by high gold prices and disciplined capital allocation, keeping Newmont well-positioned for the rest of 2026.
