Newmont beats Q3 profit estimates as gold prices rise

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Newmont beats Q3 profit estimates as gold prices rise
PrimeXBT Editorial Team
Reviewed by PrimeXBT

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Newmont beat analysts' third-quarter profit estimates on Thursday, helped by higher gold prices. Its gold production fell from a year earlier.

Newmont earned an adjusted $2.20 per share for the quarter ended September 30. Analysts had expected an average of $2.05 per share, according to data compiled by LSEG. The world's biggest gold miner benefited from higher prices of the metal.

Gold averaged $4,204.59 per ounce in the third quarter of 2026, up about 17.6% from a year earlier. Prices have stayed high despite a stronger dollar and inflation concerns tied to higher oil prices during the US war on Iran.

However, Newmont produced less gold. Quarterly output fell to 1.30 million ounces from 1.42 million ounces a year earlier.

Source: Reuters via Investing.com

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