Newmont Crushes Q2 Expectations with Record Free Cash Flow Amid Gold Price Correction

Newmont, the world's largest gold miner, reported strong earnings and reaffirmed its full-year production guidance despite a 13% correction in gold prices during the second quarter.

The company generated record second-quarter free cash flow of $2.2 billion and beat analysts' consensus estimate of $1.98 per share.

Newmont's President and 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.'

The company's realized gold price remained historically elevated at $4,414 an ounce, down from $4,900 an ounce in the first quarter but still well above the $3,320 an ounce realized during the same period last year.