Newmont Corporation (NEM) Q4 2025 Financial Results Summary
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Newmont Corporation (NEM) Q4 2025 Financial Results Summary
DENVER, February 19, 2026 – Newmont Corporation (NYSE: NEM, ASX: NEM, PNGX: NEM) has reported its fourth quarter and full year 2025 financial results, declaring a quarterly dividend of $0.26 and providing guidance for 2026.
Financial Highlights for 2025
- Production and Costs:
- Gold Production: Achieved 5.7 million ounces from core operations, totaling 5.9 million ounces.
- Production was down 14% year-over-year.
- Silver Production: Maintained at 28 million ounces.
- Copper Production: 135,000 tonnes.
- Gold by-product AISC: Reported at $1,358 per ounce (down 4%), while co-product AISC was $1,609 per ounce (up 6%).
- Gold Production: Achieved 5.7 million ounces from core operations, totaling 5.9 million ounces.
- Financial Performance:
- Net Income: Reported at $7.2 billion – a 112% increase from the previous year.
- Adjusted Net Income: At $7.6 billion or $6.89 per diluted share.
- Adjusted EBITDA: $13.5 billion (up 55%).
- Cash from Operations: $10.3 billion, with a record $7.3 billion in free cash flow for the year (up 150%), including $2.8 billion in Q4.
- Returning Capital to Shareholders:
- Total Capital Returned to Shareholders: $3.4 billion through share repurchases and dividends.
- Newmont’s share repurchase program totaled $3.6 billion since its initiation, with $2.4 billion remaining under the authorized amount of $6.0 billion.
- The quarterly dividend of $0.26 will be payable on March 26, 2026, to shareholders on record by March 3, 2026.
- Debt Management:
- Reduced debt by $3.4 billion during 2025, closing the year with a net cash position of $2.1 billion, comprising $7.6 billion in cash and total liquidity of $11.6 billion.
Operational Successes
- Commercial Production: Commenced at Ahafo North in Ghana on October 24, 2025, adding profitable production over an initial thirteen-year mine life.
- Developed New Projects: Approved the Lihir Nearshore Barrier mine life extension, unlocking access to over 5 million ounces of gold, extending the mine life beyond 2040.
- Reserves and Resources:
- Declared total gold reserves of 118.2 million ounces and resources of 148.7 million ounces.
- Increased exposure to other metals with 12.5 million tonnes of copper reserves and 442 million ounces of silver reserves.
2026 Guidance
- Production Expectations: Approximately 5.3 million gold ounces, including over 3.9 million ounces from managed operations.
- Cost Forecasts:
- Gold by-product AISC anticipated at $1,680 per ounce.
- Capital Plans:
- Sustaining capital spend of about $1.95 billion to enhance the integrity of Newmont’s portfolio.
- Development capital spend estimated at $1.4 billion to advance near-term projects such as Cadia Panel Caves and Tanami Expansion 2.
Summary of Key Metrics
Note: All amounts are in billions.
| Metric | 2025 | Year-over-Year Change |
|---|---|---|
| Net Income | $7.2 billion | +112% |
| Adjusted Net Income | $7.6 billion | +91% |
| Free Cash Flow | $7.3 billion | +150% |
| Gold Production | 5.9 million oz | -14% |
| AISC (Gold by-product) | $1,358/oz | -4% |
| Quarterly Dividend Declared | $0.26 | New |
| Total Debt Reduction | $3.4 billion | New |
This report consolidates a milestone year for Newmont, showcasing significant operational and financial achievements amidst a challenging market landscape while setting a strong foundation for 2026.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in millions except per share)
Note: All amounts are in millions.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions)
Note: All amounts are in millions.
