Newmont stock balances record cash flow with 2027 project spending

Newmont reported record third-quarter adjusted net income and strong cash generation on October 22, 2026, while keeping its full-year production outlook intact. The company is using that financial flexibility to advance Tanami Expansion 2 and the Red Chris Block Cave project as both assets approach important 2027 milestones.

According to the Newmont press release, adjusted net income reached 2.3 billion US dollars, or 2.20 US dollars per diluted share, in the third quarter. Reported net income attributable to Newmont stockholders was 2.5 billion US dollars, while adjusted EBITDA came to 4.0 billion US dollars.

Cash Flow Funds Project Investment

Free cash flow totaled 1.9 billion US dollars in the quarter, and cash from operating activities reached 2.8 billion US dollars after a 565 million US dollar working-capital impact. Newmont generated 7.3 billion US dollars of free cash flow in the first nine months of 2026, giving management room to fund mine development while returning capital to shareholders.

The company repurchased 1.6 billion US dollars of common stock after its previous earnings call and declared a quarterly dividend of 0.26 US dollars per share. The dividend is payable on December 21, 2026, to shareholders of record on November 25. Newmont said its total share count has fallen by roughly 10 percent since February 2024, supporting per-share returns if cash generation remains resilient.

Newmont ended September with 8.8 billion US dollars in cash, 12.8 billion US dollars of total liquidity and a 3.2 billion US dollar net cash position. Those figures were before a planned 1.95 billion US dollar payment to Barrick under the amended Nevada Gold Mines agreement, which the company expected to make in the fourth quarter.

Tanami And Red Chris Set Milestones

Tanami Expansion 2 is slightly ahead of schedule after shaft construction was completed. Newmont now expects commercial production toward the end of the first half of 2027, earlier than previously anticipated. The expansion is intended to improve access to higher-grade underground ore and support a return to production growth after the 2026 trough.

At Red Chris in British Columbia, Newmont is finalizing the feasibility study for the Block Cave project and expects a full-funds investment decision in early 2027, subject to governance approvals. The company owns 70 percent of the joint venture and estimates total development capital at 4.2 billion to 4.8 billion US dollars on a 100 percent basis, net of an anticipated 500 million Canadian dollar contribution from the Canadian government.

The first phase is designed to produce 3.0 million ounces of gold and more than 850 thousand tonnes of copper over an initial 13-year cave life. Construction could begin in 2027, with commercial production targeted for 2033. Newmont expects the project to produce an average of 275 thousand to 325 thousand ounces of gold and 65 thousand to 85 thousand tonnes of copper annually between 2035 and 2040.

Newmont expects 2027 development capital to rise by about 500 million US dollars from 2026 levels as spending increases at Red Chris and the Lihir Nearshore Barrier project. Around 200 million US dollars of that increase is expected to be offset by lower reclamation spending at the Yanacocha water-treatment plants.

Newmont stock traded at 108.84 euros on Lang & Schwarz at 13:21 CET on Wednesday, November 11.

The S&P 500 provides the relevant broader market backdrop for US-listed mining shares and other risk assets.

Investors will next focus on Newmont's fourth-quarter production, the outcome of the Red Chris feasibility process and the timing of the early-2027 investment decision. More news and analyses on Newmont stock remain available.