Newmont Posts Record Free Cash Flow as Gold Prices Surge
Newmont Corporation reported its strongest second quarter ever, driven by soaring gold prices and disciplined cost control. The world's largest gold miner generated a record $2.2 billion in free cash flow during Q2 2026, with production of 1.3 million ounces of gold modestly ahead of expectations.
The average realized gold price rose 33% to $4,414 per ounce, outpacing a 4% increase in costs applicable to sales. Newmont reaffirmed its 2026 outlook, expecting the fourth quarter to be the strongest period with production weighted roughly 49%/51% between the first and second halves.
Capital spending is heavily back-end loaded, with 58% of sustaining and 63% of development capital planned for the second half. Newmont returned $1.8 billion to shareholders through dividends and buybacks during Q2, reducing its share count by 9% over two years.