# Newmont Corporation (NEMCL)

> Source: Nexqual · https://nexqual.com/NEMCL · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Newmont Corporation (NEMCL), nexqual.com/NEMCL" · informational, not investment advice.

**Price:** USD 111.5 (+0.00% on the day) · last close of Oct 22, 2026; US market closed, not a live price. Prev close 111.5 · day 37–37 · 52w 37–128 · market cap $116B · PNK

## Key facts
- Last four reported quarters (through Sep 30, 2026): revenue $26.6B, net income $9.24B (34.7% margin), free cash flow $10.1B (SEC filings).
- Valuation: P/E 12.5x (avg 13.5x at the last 2 fiscal year-ends), net cash $3.74B.
- Analysts: None.
- Total return with dividends: 1Y +25.5% vs S&P 500 +14.4%; 5Y +242.1% vs S&P 500 +77.0%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $12.2B | $11.9B | $11.8B | $18.7B | $22.7B | $26.6B |
| Net income | $1.17B | -$429M | -$2.49B | $3.35B | $7.08B | $9.24B |
| EPS (diluted) | $1.46 | -$0.54 | -$2.97 | $2.92 | $6.39 | — |
| Free cash flow | $2.63B | $1.09B | $97.0M | $2.96B | $7.30B | $10.1B |
| Net margin | 9.5% | -3.6% | -21.1% | 17.9% | 31.3% | 34.7% |
| Revenue growth | +6.3% | -2.5% | -0.9% | +58.2% | +21.3% | — |
| Cash + short-term investments | $5.07B | $3.76B | $3.02B | $3.64B | $8.24B | — |
| Total debt | $5.71B | $5.57B | $8.87B | $8.48B | $5.12B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Sep 30, 2026)
P/E 12.5x · P/S 4.4x · EV/Sales 4.2x · P/FCF 11.5x · P/B 3.3x · FCF yield 8.69% · Earnings yield 7.97% · Dividend yield (paid, TTM) 0.95% · Buyback yield (TTM) 4.89% · Net cash $3.74B · EV $112B
P/E at fiscal year-ends: Dec 2025 13.3x, Dec 2024 13.7x.

## Analysts
Consensus None.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2024-03-25) |
|---|---|---|
| Total return | +25.5% | +242.1% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | +25.6% | +61.1% |
| Volatility (annualized) | 33.5% | 38.0% |
| Max drawdown | -12.9% (Sep 2026→Oct 2026) | -40.8% (Oct 2024→Dec 2024) |

## Peers (Gold)
AEM (Agnico Eagle Mines Limited) USD 173.15 -1.70% · B (Barrick Mining Corporation) USD 38.11 -1.41% · WPM (Wheaton Precious Metals Corp) USD 121.35 -1.76% · FNV (Franco-Nevada Corporation) USD 229.48 -1.06% · AU (AngloGold Ashanti PLC) USD 83.48 -2.01% · GFI (Gold Fields Limited) USD 34.38 -2.18%

## More
Full page: https://nexqual.com/NEMCL · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in NEMCL's own 10-K filed 2026-02-19 (https://www.sec.gov/Archives/edgar/data/1164727/000116472726000010/nem-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | BARRICK MINING CORP (B) | "For example, our joint ventures, including the joint venture that combined our and Barrick Mining Corporation's ("Barrick") respective Nevada operations, forming NGM, pursuant to the operating agreement entered into on J…" |
| Partner | Staatsolie Maatschappij Suriname | "If Staatsolie does not have sufficient funds or borrowing ability to make their capital commitments in accordance with the terms of the partnership agreement, our operations in Suriname could be impacted." |
| Partner | Nevada Gold Mines | "It is noted that the Nevada mines owned by Nevada Gold Mines LLC, the joint venture between the Company (38.5%) and Barrick (61.5%), are not required to be disclosed in Exhibit 95 mine safety disclosure reporting as such…" |
| Partner | SSR MINING INC. (SSRM) | "Under the terms of the agreement with SSR, Newmont expects to receive deferred cash contingent consideration upon certain regulatory approvals, including the resolution of regulatory applications relating to the Carlton …" |

## Revenue by business segment (fiscal year ended 2024-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| NGM | $2.48B | 13.3% | +9.4% |
| Peñasquito: | $2.32B | 12.4% | +157.7% |
| Ahafo South | $1.92B | 10.3% | +70.2% |
| Cadia | $1.86B | 10.0% | +341.0% |
| Boddington: | $1.75B | 9.3% | -3.7% |
| Lihir | $1.47B | 7.9% | +453.8% |
| Tanami | $988.0M | 5.3% | +14.0% |
| Yanacocha | $841.0M | 4.5% | +56.6% |
| Porcupine | $673.0M | 3.6% | +33.8% |
| Merian | $660.0M | 3.5% | +5.6% |
| Brucejack | $610.0M | 3.3% | +747.2% |
| Éléonore | $583.0M | 3.1% | +28.7% |
| Cerro Negro | $566.0M | 3.0% | +11.0% |
| Musselwhite | $516.0M | 2.8% | +47.0% |
| Akyem | $495.0M | 2.6% | -13.8% |
| CC&V | $347.0M | 1.9% | +4.5% |
| Red Chris: | $325.0M | 1.7% | +915.6% |
| Telfer | $268.0M | 1.4% | +76.3% |
| Total revenue | $18.68B | 100% | — |

## Revenue by product line (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Gold Sales from Doré Production | $4.13B | 64.9% | +19.7% |
| Sales from Concentrate and Other Production | $2.23B | 35.1% | +7.7% |
| Total revenue | $6.36B | 100% | — |

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United Kingdom | $13.07B | 57.6% | +19.2% |
| South Korea | $3.20B | 14.1% | +63.4% |
| Japan | $2.00B | 8.8% | +4.3% |
| China | $1.41B | 6.2% | +343.7% |
| Other Countries | $1.38B | 6.1% | +18.5% |
| Australia | $803.0M | 3.5% | +96.3% |
| Mexico | $639.0M | 2.8% | +6.5% |
| Switzerland | $89.0M | 0.4% | -86.1% |
| Philippines | $82.0M | 0.4% | -88.4% |
| Total revenue | $22.67B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | — | — | — | $6.17B | — |
| Next quarter (ends 2027-03-31) | — | — | — | $6.48B | — |
| Current fiscal year (ends 2026-12-31) | — | — | — | $26.04B | — |
| Next fiscal year (ends 2027-12-31) | — | — | — | $28.18B | — |