Miner Newmont's Stock Pops as Higher Gold Prices Boost Earnings
Shares were up close to 7% in recent trading, at their highest level in three years. With Friday's gains, the stock has added roughly three-quarters of its value in 2025.
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Newmont reported second-quarter adjusted earnings per share of $1.43, above the consensus of analysts surveyed by Visible Alpha. Revenue was up 20.1% year-over-year to $5.32 billion, $59 million above estimates.
Gold sales grew 26.5% to $4.58 billion, while copper, silver, lead, and zinc sales all declined. The company noted the average realized gold price during the period was $3,320 per ounce, $973 per ounce higher than a year ago.
CEO Tom Palmer said Newmont put in a strong performance, 'producing approximately 1.5 million attributable gold ounces and generating an all time record quarterly free cash flow of $1.7 billion.'
The company also announced another $3 billion in stock buybacks.
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