Driven by Soaring Gold Prices, Newmont Mining's Q4 Sales Surge
Due to a 60% year-on-year increase in gold prices, Newmont Corporation's fourth-quarter sales rose.
This gold mining company released its financial report on Thursday: quarterly profit was $1.3 billion, or $1.19 per share; in the same period last year, profit was $1.4 billion, or $1.24 per share.
According to financial data provider FactSet, excluding certain one-time items, the company's adjusted earnings per share were $2.52, higher than analysts' expectations of $2.05.
The company's revenue grew by 21% to $6.82 billion; analysts surveyed by FactSet had previously predicted revenue of $6.19 billion.
The average realized price of gold in the fourth quarter was $4,216 per ounce, up 60% year-on-year. In January this year, spot gold prices hit a historic high, breaking above $5,000 per troy ounce for the first time.
Driven by the addition of low-cost gold production from the Ahafo North mine, as well as improved grade and output at other mining sites, the company's attributable gold production increased by 2%.
Newmont expects gold production of approximately 5.3 million troy ounces in 2026, with self-operated production accounting for 3.9 million ounces.
The company plans to invest about $1.4 billion to advance development work on the Cadia panel cave mining project, the second phase of the Tanami expansion project, as well as a feasibility study for the Red Chris block cave mining project.
Editor: He Yun
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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