Newmont (NYSE: NEM) saw its Q4 2025 sales jump to $6.82 billion, up from $5.65 billion in Q4 2024, mainly driven by higher realized prices. Q4 realized gold price jumped to $4,216 per ounce from $2,643 last year.
However, quarterly net income fell to $1.30 billion from $1.40 billion last year, reflecting income and mining tax expense of $2.07 billion plus impairment charges of $779.0 million tied primarily to deferring Yanacocha Sulfides. On adjusted basis, net income rose to $2.75 billion from $1.59 billion last year. This translates to $2.52 earnings per diluted share.
Full-year, sales rose to $22.67 billion from $18.68 billion in 2024, while net income climbed to $7.09 billion from $3.35 billion. Adjusted net income also increased to $7.63 billion from $3.99 billion.
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Adjusted EBITDA for the quarter also jumped to $4.55 billion from Q4 2024’s $3.05 billion. For 2025, this rose to $13.48 billion from $8.68 billion last year.
Net cash from operating activities was $3.62 billion versus $2.51 billion last year, leading to free cash flow surging to $2.81 billion up from $1.64 billion in Q4 2024. Cash and cash equivalents ended 2025 at $7.65 billion versus $3.62 billion at year-end 2024.
Full-year 2025 attributable gold production was 5.89 million ounces, down 14% from 6.85 million ounces last year, while Q4 production contributed 1.45 million ounces. Copper production for the year was 135,000 tonnes and silver production was 28.0 million ounces.
Meanwhile, gold by-product AISC improved to $1,358 per ounce from $1,408, while co-product AISC increased to $1,609 per ounce from $1,516.
Attributable gold production is guided in 2026 at 5.26 million ounces, with gold by-product AISC guided at $1,680 per ounce and by-product CAS at $1,055 per ounce, using a $4,500 per ounce gold assumption.
Newmont last traded at $125.40 on the NYSE.
Information for this story was found via Sedar and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
