Newmont Q3 Earnings: $1.6B Cash Flow But Gold King Slips on Guidance

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#Gold #mining #goldmining #resources #preciousmetals #investing Newmont just posted Q3 2025 results with a massive $1.6 billion in free cash flow, strong gold pricing, and rising year-over-year revenues across most metals. But despite the headline strength, the market wasn’t impressed, and for good reason. Revenue hit $5.5 billion, up 20% year-over-year, while adjusted net income rose to $1.88 billion. Yet Q3 free cash flow fell from Q2, and gold production dropped to 1.42 million ounces, marking Newmont’s weakest operational quarter in over two years. The decline, attributed to mine shutdowns and grade issues, raises bigger questions about the long-term trend, especially as production has been slipping even before the company’s recent divestiture push. While costs per ounce improved slightly, the real story lies in the forward guidance. Q4 is expected to bring even higher costs, and while 2025 production guidance is being held at 5.9 million ounces, 2026 is already expected to land at the lower end of that range. Capital spending is being reined in for now, but projects on the horizon like Red Chris expansion and Cadia tailings work could push costs higher again. Despite strong financials on the surface, Newmont’s future production path, rising cost pressures, and conservative outlook are what spooked the market. The company might be the sector’s cash flow king, but to stay there, it’ll need to prove that shrinking output and rising costs aren't the new norm. For more sharp analysis and no-nonsense earnings breakdowns in the mining space, stay locked in to Deep Dive. Catch our full suite of content below: Website: https://thedeepdive.ca/ Twitter: https://twitter.com/TheDeepDive_ca Facebook: https://www.facebook.com/TheDeepDive.ca/ Instagram: https://www.instagram.com/the.deep.dive/ LinkedIn: https://www.linkedin.com/company/the-... ==================================================================== Looking for better insights on the markets? The Deep Dive Spotlights is providing exclusive industry insights from executives, insiders, technicians, specialists and more. We're upgrading our Canadian small cap coverage from written to visual, hitting investors with a double dose of market insights to provide a special look into just what's happening in the Canadian public markets. ================================================================= TheDeepDive.ca Team Writers: Jordan Lutz & Steve Hyland Producer: Chriz Rayos Host: Steve Hyland Post Production Head: Oveja Rayos ================================================================= Disclaimer: Not a recommendation to buy or sell securities. Always do additional research and consult a professional before purchasing a security. The Deep Dive and its affiliates hold no licenses.