Newmont Q2: $2.20B Net Income, Red Chris Cleared for Final Investment Decision
NEM sits 57% above its 52-week low of $59.96.
Summary
Newmont delivered Q2 net income of $2.20B on $6.12B revenue, with record free cash flow and $1.9B returned to shareholders. The beat on EPS ($2.10 vs $1.99 consensus) was offset by a slight revenue miss, but the real news is regulatory approval for the Red Chris Block Cave project after Tahltan Nation consent, moving it toward a final investment decision. This follows the $500M Canadian government commitment in July and earlier Q1 strength. The 8-K filing formalizes the results. Gold production guidance of 5.26M oz at AISC $1,680/oz provides a solid outlook. The Red Chris milestone de-risks a major growth project and could drive re-rating.
At the time of this announcement, NEM was trading at $94.20 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $101.1B. The 52-week trading range was $59.96 to $134.88. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.