Newmont Beats Q3 Profit Estimates Amid Rising Gold Prices

Newmont, the world's largest gold mining company, reported third-quarter adjusted earnings of US$2.20 per share for the period ending September 30, 2026. This figure surpassed the LSEG analyst average estimate of US$2.05 per share.

The financial growth was primarily driven by a 17.6 per cent year-over-year increase in gold prices, which averaged US$4,204.59 per ounce during the quarter. Newmont's average realized price for gold rose to US$4,317 per ounce, compared to US$3,539 in the previous year.

These price gains offset a decline in quarterly gold production, which dropped to 1.30 million ounces from 1.42 million ounces in the same period last year. Gold prices remained elevated despite a stronger dollar and inflation concerns linked to the U.S. war on Iran.