Newmont, the world’s biggest gold miner offers investors exposure to precious metals globally. Operating with a strong balance sheet, the company converts today’s elevated metal pricing into record-setting profits.
Its portfolio of Tier 1 mining jurisdictions provides superior geopolitical safety relative to mid-tier miners. Concurrently, significant co-product revenues from copper, silver, and zinc offer structural downside insulation against single-commodity volatility while tapping long-term electrification demand.
NEWMONT CORP. (New York symbol NEM; www.newmont.com) is the world’s largest gold mining company. It also produces copper, silver, lead and zinc as it operates premier mining assets across North America, South America, Australia, Papua New Guinea, and Africa.
It’s worth noting that Newmont has now settled its dispute with rival gold miner, and partner, Barrick Mining Corp. Under the terms of this new deal, the pair will increase the size of their Nevada joint venture. Specifically, Barrick will contribute its Fourmile project, while Newmont will contribute its Fiberline and Mike developments. Newmont will also pay Barrick $1.95 billion.
While the deal clears the way for Barrick to spin off its North American operations and sell 10% of it through initial public offering, it also increases the value of Newmont’s stake in the joint venture.
That only adds to Newmont’s bright outlook, particularly now that it has completed the sale of its less important mines to focus on its key properties.
In the past few years, Newmont has sold many of its smaller mines and projects to better focus on its top-tier mines in North America, South America, Australia, Papua New Guinea and Ghana.
Partly due to asset sales, revenue fell 3.4%, from $12.22 billion in 2021 to $11.81 billion in 2023. Higher gold production and prices lifted revenue by 58.2% to $18.68 billion in 2024. Revenue rose a further 21.3%, to $22.67 billion in 2025.
The company’s earnings before unusual items fell 38.1%, from $2.37 billion (or $2.96 a share) in 2021 to $1.36 billion ($1.61 a share) in 2023 due to rising costs for labour, fuel and electrical power. As a result of the higher revenue, earnings soared 201.4%, to $3.99 billion ($3.48 a share) in 2024, and rose another 91.3% to $7.63 billion ($6.89 a share) in 2025.
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Newmont’s strong gold prices drive double-digit revenue expansion and capital returns here
Meanwhile, in the three months ended June 30, 2026, Newmont’s revenue rose 15.1%, to $6.12 billion from $5.32 billion. Excluding one-time items, earnings jumped 40.9%, to $2.25 billion from $1.59 billion. Per-share earnings improved 46.9%, to $1.43 from $0.72, on fewer shares outstanding.
Newmont’s sound balance sheet cuts your risk. It ended the latest quarter with cash of $9.0 billion. The company’s long-term debt of $5.1 billion is also a low 4.5% of its market cap.
Newmont repurchased $1.6 billion of its common stock in the first half of 2026. In 2025, it bought back $2.3 billion of its shares.
For 2027, the company’s earnings will probably rise to $10.07 a share, and the stock trades at 13.0 times that forecast. That’s an attractive multiple considering most of the company’s mines are in politically stable countries. The company also raised its quarterly dividend by 4.0% with the June 2026 payment and now yields 1.0%.
Recommendation in Canadian Wealth Advisor: Newmont Corp. is a buy.
