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Sentiment · FY2026 Q2
Newmont delivered record Q1 free cash flow of $3.1 billion and adjusted EPS of $2.90, as supportive commodity prices and AISC below guidance drove exceptional profitability with production on track. The company provides production and cost guidance only; management maintained full-year cost guidance while the $6 billion buyback authorization continued executing, though the Cadia earthquake disruption and Ghana regulatory headwinds created near-term operational challenges on the path toward the 6 million ounce production growth target.
Capex Investment | Cost Pressure | Competitive Dynamics | Capital Allocation | M&A | Revenue Growth | Regulation Policy | Guidance Reliability | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 4 | 3 | 3 | 2 | 1 | 2 | |
| 2025Q1 | 5 | 3 | 3 | 4 | 3 | 3 | 2 | |
| 2025Q2 | 4 | 5 | 4 | 2 | 2 | 2 | 1 | 2 |
| 2025Q3 | 6 | 3 | 3 | 4 | 4 | 5 | 4 | |
| 2025Q4 | 5 | 4 | 4 | 5 | 4 | 2 | 3 | 2 |
| 2026Q1 | 1 | 3 | 1 | 2 | 6 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Capex Investment | 4 | 5 | 4 | 6 | 5 | 1 |
| Cost Pressure | 4 | 3 | 5 | 3 | 4 | 3 |
| Competitive Dynamics | 3 | 3 | 4 | 3 | 4 | 1 |
| Capital Allocation | 3 | 4 | 2 | 4 | 5 | |
| M&A | 2 | 3 | 2 | 4 | 4 | 2 |
| Revenue Growth | 1 | 3 | 2 | 5 | 2 | |
| Regulation Policy | 2 | 1 | 3 | 6 | ||
| Guidance Reliability | 2 | 2 | 4 | 2 | 1 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Daniel Major | UBS | 15 (13%) |
| Daniel Morgan | Barrenjoey | 14 (14%) |
| Anita Soni | CIBC Capital Markets | 13 (0%) |
| Lawson Winder | Bank of America | 13 (0%) |
| Tanya Jakusconek | Scotiabank | 13 (8%) |
| Hugo Nicolaci | Goldman Sachs | 12 (0%) |
| Josh Wolfson | RBC Capital Markets | 11 (0%) |
| Matthew Murphy | BMO Capital Markets | 7 (0%) |
| Fahad Tariq | Jefferies | 7 (0%) |
| Al Harvey | JPMorgan | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| UBS | 2 | 16 (13%) |
| Barrenjoey | 1 | 14 (14%) |
| CIBC Capital Markets | 1 | 13 (0%) |
| Scotiabank | 1 |
| 13 (8%) |
| Bank of America | 1 | 13 (0%) |
| Goldman Sachs | 1 | 12 (0%) |
| RBC Capital Markets | 1 | 11 (0%) |
| Jefferies | 1 | 7 (0%) |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $5.72B | +46.0% | $1.24 | +138.5% | 44.7% | 40.9% | 24.5% | $1.64B |
| FY2025 Q1 | $4.87B | +21.7% | $1.68 | +1100.0% | 41.7% | 38.3% | 38.8% | $1.21B |
| FY2025 Q2 | $5.28B | +22.4% | $1.85 | +150.0% | 47.6% | 44.4% | 39.1% | $1.71B |
| FY2025 Q3 | $5.38B | +17.0% | $1.67 | +108.8% | 48.3% | 45.7% | 34.1% | $1.57B |
| FY2025 Q4 | $6.57B | +14.8% | $1.21 | -2.4% | 58.8% | 56.1% | 19.8% | $5.85B |
| FY2026 Q1 | $7.18B | +47.5% | $3.00 | +78.6% | 62.4% | 60.6% | 45.4% | $3.14B |
| FY2026 Q2 | $6.12B | +16.0% | $2.06 | +11.4% | 22.4% | 50.6% | 36.0% | $2.21B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What NEM and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“During the quarter, we also received approximately $321 million in after-tax proceeds from the sale of equity investments in SolGold and Greatland resources, along with contingent payments related to the divestments of Musselwhite and Cripple Creek & Victor last year, bringing total after-tax proceeds received from our noncore divestiture program to over $4.6 billion.”
Newmont sold its equity investment in Greatland Resources as part of its non-core divestiture program; read-through on Greatland's shareholder base.
“During the quarter, we also received approximately $321 million in after-tax proceeds from the sale of equity investments in SolGold and Greatland resources, along with contingent payments related to the divestments of Musselwhite and Cripple Creek & Victor last year, bringing total after-tax proceeds received from our noncore divestiture program to over $4.6 billion.”
Newmont sold its equity investment in SolGold as part of its non-core divestiture program; read-through on SolGold's shareholder base.
“Have you had any discussions with Barrick on bringing that into the joint venture partnership at this stage?”
Barrick is Newmont's Nevada Gold Mines JV partner and operator; the quarter's discussion centered on a notice of default and Fourmile, a read-through on the strained JV relationship.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
NEM Newmont | 9 | +50.0% | |
| ALB Albemarle Corporation | 9 | +32.7% | |
| APD Air Products | 9 | +8.8% | |
| CF CF Industries | 7 | +19.4% | |
| CRH CRH plc | 7 | +9.1% | |
| CTVA Corteva | 6 | +11.1% | |
| DD DuPont | 6 | -45.2% | |
| DOW Dow Inc. | 3 | -6.1% | |
| ECL Ecolab | 7 | +10.0% | |
| FCX Freeport-McMoRan | 7 | +12.2% | |
| IFF International Flavors & Fragrances | 6 | -3.6% | |
| LIN Linde plc | 9 | +8.3% | |
| LYB LyondellBasell | 4 | -6.3% | |
| MLM Martin Marietta Materials | 7 | +0.7% | |
| MOS Mosaic Company (The) | 4 | +14.4% | |
| NUE Nucor | 9 | +21.3% | |
| PPG PPG Industries | 6 | +6.7% | |
| SCCO Southern Copper Corporation | 9 | +36.2% | |
| SHW The Sherwin-Williams Company | 6 | +6.8% | |
| STLD Steel Dynamics | 9 | +19.1% | |
| VMC Vulcan Materials Company | 7 | +7.4% |