Shares of Newmont Corporation (NYSE: NEM) were up about 0.5% in early trading Thursday after the world’s largest gold miner reported fourth-quarter and full-year 2025 results that beat Wall Street expectations, with bullion prices near multiyear highs. The stock has climbed sharply over the past year, up more than 150% in the last 12 months, reflecting strong commodity prices and improved earnings momentum, but remains sensitive to shifts in precious-metals markets and macro risks.

Quarterly Performance and Revenue Trends

For the quarter ended Dec. 31, 2025, Newmont delivered adjusted earnings of about $2.52 per share, above the consensus estimate of roughly $2.00 and marking its fifth consecutive quarter of earnings beats, according to industry data. Revenue for the period was approximately $6.8 billion, topping the average analyst forecast of about $6.2 billion, with a significant contribution from higher realized gold prices. Gold prices averaged more than $4,100 per ounce in the quarter, up sharply from prior periods and helping to cushion a decline in production.

Newmont’s gold production declined to around 1.45 million ounces in Q4 from higher year-ago levels, reflecting planned asset sales and sequencing at certain operations. The company’s all-in sustaining costs (AISC), a key industry metric for unit costs, stayed within guidance, supporting margin expansion. Higher realized prices and disciplined cost control helped operating margins widen compared with the prior year, though elevated input costs persisted across some sites.

Full-Year 2025 Results

For the full year, Newmont reported adjusted earnings of approximately $6.4 per share on revenue of about $22.7 billion, slightly exceeding revenue projections while trailing some estimates on EPS. The performance was driven by strong metal prices and free cash flow generation. The company reported a robust annual free cash flow that set records in 2025, supported by portfolio optimization and cost discipline. Newmont also returned significant capital to shareholders through dividends and share repurchases and reduced debt, strengthening its financial position heading into 2026.

Operational and Business Highlights

Newmont completed key strategic milestones in 2025, including the commercial start of the Ahafo North mine in Ghana, a lower-cost operation, and the broader integration of assets from its 2024 acquisition of Newcrest Mining. The company also executed a non-core asset divestiture program, generating proceeds that funded debt reduction and dividend increases. There were leadership changes during the year, with long-time CEO Tom Palmer retiring at year-end and Natascha Viljoen taking over as CEO.

Sector and Macro Context

Precious-metals miners such as Newmont have benefitted from an extended rally in gold prices, which often reflects investor demand for safe-haven assets amid economic and geopolitical uncertainty. Inflationary pressures and higher input costs, including labor and energy, have been cited as headwinds in the sector. Despite strong bullion prices, production and cost dynamics vary across mines, and companies continue to emphasize margins and capital discipline.

The broader mining sector also faces scrutiny over ESG and capital allocation strategies as investors weigh commodity price cycles and long-term growth prospects. Newmont’s performance highlights the influence of metal prices on earnings, with revenue gains from gold partly offset by output fluctuations tied to asset sales and operational sequencing.

The post Newmont Shares Rise After Q4 Results as Gold Rally Offsets Production Drop first appeared on AlphaStreet News.