Newmont Defies Gold Price Dip With Record Q2 Earnings

Newmont's second-quarter earnings report showed strong results despite a decline in gold prices. The company reported $2.2 billion in net income and record free cash flow of $2.2 billion, surpassing analyst expectations. This comes as Newmont produced 1.29 million ounces of gold, maintaining near stable output despite operational disruptions at its Cadia mine.

Costs did rise due to lower production and higher spending, but remain within the company's full-year guidance. Newmont reaffirmed its 2026 production forecast of 5.26 million ounces and plans continued shareholder returns through dividends and buybacks, supported by a strong balance sheet and liquidity.