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Axxcess Wealth Management LLC bought a new position in shares of Newmont Corporation (NYSE:NEM – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,528 shares of the basic materials company’s stock, valued at approximately $2,137,000.

Other institutional investors have also recently made changes to their positions in the company. Cedar Mountain Advisors LLC purchased a new stake in shares of Newmont during the first quarter valued at $25,000. Pinnacle Bancorp Inc. purchased a new stake in shares of Newmont in the first quarter valued at approximately $25,000. GoalVest Advisory LLC purchased a new stake in shares of Newmont in the third quarter valued at approximately $28,000. Clearstead Trust LLC purchased a new stake in shares of Newmont in the second quarter valued at approximately $25,000. Finally, Kilter Group LLC bought a new position in Newmont in the second quarter worth approximately $26,000. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 3.0% NEM stock opened at $113.63 on Friday. The company has a fifty day moving average price of $122.05 and a 200 day moving average price of $111.00. Newmont Corporation has a 12 month low of $76.05 and a 12 month high of $135.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.55 and a quick ratio of 2.26. The company has a market cap of $119.73 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 2.17 and a beta of 0.51.

Newmont (NYSE:NEM – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The basic materials company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.26. The business had revenue of $6.36 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.71 EPS. Sell-side analysts expect that Newmont Corporation will post 9.04 earnings per share for the current year. Key Stories Impacting Newmont Here are the key news stories impacting Newmont this week:

Positive Sentiment: Newmont reported third-quarter adjusted EPS of $2.20, above the $1.96 consensus estimate, while revenue of $6.36 billion exceeded expectations of $6.26 billion. The company benefited from higher gold prices and stronger sales volumes. Newmont beats quarterly profit estimates on higher gold prices, Cadia recovery Positive Sentiment: Net profit rose to approximately $2.48 billion from $1.83 billion a year earlier. The results were supported by elevated gold prices, improved gold sales and recovery at the Cadia operation, reinforcing the company’s operating leverage to bullion prices. Newmont Logs Higher Profit, Revenue on Higher Gold Sales Positive Sentiment: Management said Newmont remains on track to achieve full-year 2026 production guidance and described the quarter as record-setting for adjusted net income. Investors also responded favorably to expectations that the company could return to growth in 2027. Newmont Reports Third Quarter 2026 Results Positive Sentiment: RBC Dominion Securities raised its view to “outperform” with a $155 price target, implying substantial upside from recent trading levels. Newmont also declared a quarterly dividend of approximately $0.26 per share. RBC Dominion Securities Newmont rating Neutral Sentiment: Newmont filed its September-quarter Form 10-Q, providing the detailed financial disclosures behind the earnings release. The dividend declaration and updated payment terms were also reported for the company’s CDI holders. Newmont Files September Quarter Form 10-Q Negative Sentiment: Higher costs remain a concern. Coverage noted that Newmont raised its 2026 cost outlook, which could limit the benefit of strong gold prices and reduce confidence in margins. Newmont beats third-quarter earnings expectations Negative Sentiment: Analyst sentiment was mixed: Freedom Broker maintained a “hold” rating but cut its target to $116 from $130, while National Bank Financial also lowered expectations. These cautious revisions likely tempered the positive reaction to the earnings beat. Analyst Ratings Changes A number of equities research analysts have recently weighed in on NEM shares. TD boosted their price target on Newmont from $127.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. BNP Paribas Exane dropped their price objective on shares of Newmont from $111.00 to $102.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st. Freedom Broker restated a “hold” rating and issued a $116.00 price objective (down from $130.00) on shares of Newmont in a research note on Thursday. Wall Street Zen downgraded shares of Newmont from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Canaccord Genuity Group cut their price objective on shares of Newmont from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Newmont currently has an average rating of “Moderate Buy” and an average target price of $134.06.

Read Our Latest Report on Newmont

Insider Transactions at Newmont In other news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $114.81, for a total value of $344,430.00. Following the completion of the sale, the executive vice president directly owned 34,315 shares in the company, valued at approximately $3,939,705.15. The trade was a 8.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Natascha Viljoen sold 7,764 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total transaction of $807,456.00. Following the sale, the chief executive officer directly owned 135,235 shares in the company, valued at $14,064,440. This trade represents a 5.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 35,973 shares of company stock worth $3,927,169. 0.06% of the stock is currently owned by corporate insiders.

Newmont Profile (Free Report)

Newmont Corporation (NYSE:NEM) is a global mining company primarily engaged in the exploration, development, and production of gold. The company also produces copper, silver, zinc, and lead as byproducts of its mining operations. Its activities span the full mining life cycle, including resource discovery, project development, mine operations, processing, reclamation, and closure.

Founded in 1921, Newmont has grown into one of the world’s largest gold producers. The company operates and develops mines across several regions, including North America, South America, Australia, Africa, and Papua New Guinea.

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Wall Street analysts expect Newmont Corporation (NEM - Free Report) to post quarterly earnings of $1.96 per share in its upcoming report, which indicates a year-over-year increase of 14.6%. Revenues are expected to be $6.01 billion, up 8.8% from the year-ago quarter.

The current level reflects a downward revision of 4.5% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.

Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

Bearing this in mind, let's now explore the average estimates of specific Newmont metrics that are commonly monitored and projected by Wall Street analysts.

Analysts' assessment points toward 'Geographic Revenue- Nevada Gold Mines' reaching $750.37 million. The estimate indicates a year-over-year change of -16%.

The consensus estimate for 'Geographic Revenue- Pe?asquito' stands at $967.34 million. The estimate indicates a year-over-year change of +5.4%.

According to the collective judgment of analysts, 'Geographic Revenue- Merian' should come in at $297.57 million. The estimate indicates a change of +87.2% from the prior-year quarter.

The collective assessment of analysts points to an estimated 'Geographic Revenue- Cerro Negro' of $292.02 million. The estimate points to a change of +41.1% from the year-ago quarter.

The combined assessment of analysts suggests that 'Attributable Gold Production - Yanacocha' will likely reach 90 thousands of ounces. Compared to the present estimate, the company reported 152 thousands of ounces in the same quarter last year.

Analysts forecast 'Consolidated and attributable - other metals - Produced Silver' to reach 7500 thousands of ounces. The estimate compares to the year-ago value of 7000 thousands of ounces.

The consensus among analysts is that 'Attributable Gold Production - Boddington' will reach 155 thousands of ounces. Compared to the present estimate, the company reported 146 thousands of ounces in the same quarter last year.

It is projected by analysts that the 'Attributable Gold Production - Tanami' will reach 90 thousands of ounces. Compared to the current estimate, the company reported 100 thousands of ounces in the same quarter of the previous year.

Analysts predict that the 'Average Realized Price - Gold' will reach 4345 dollars per ounce. Compared to the current estimate, the company reported 3539 dollars per ounce in the same quarter of the previous year.

The average prediction of analysts places 'Average Realized Price - Copper' at N/A. Compared to the present estimate, the company reported N/A in the same quarter last year.

Analysts expect 'Attributable Gold ounces sold - Total Gold' to come in at 1205 thousands of ounces. The estimate is in contrast to the year-ago figure of 1319 thousands of ounces.

Based on the collective assessment of analysts, 'Attributable Production - Total Gold' should arrive at 1287 thousands of ounces. Compared to the current estimate, the company reported 1421 thousands of ounces in the same quarter of the previous year.

View all Key Company Metrics for Newmont here>>>

Shares of Newmont have experienced a change of -3.9% in the past month compared to the +1.5% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), NEM is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Vancouver, British Columbia--(Newsfile Corp. - October 8, 2026) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce that it has completed its previously announced acquisition (the "Transaction") of the Northumberland Gold Project ("Northumberland" or the "Project") located in Nevada's Walker Lane, from subsidiaries of Newmont Corporation ("Newmont") (NYSE: NEM). Trading has resumed following closing of the Transaction and will reflect the consolidation, announced on September 29, 2026.

StrikePoint Gold Highlights:

The Northumberland Gold Project hosts an independent mineral resource estimate ("MRE") of 2.86 million oz ("Moz") of gold equivalent ("AuEq") in the indicated category and 1.57 Moz of AuEq* in the inferred category contained within 67 million tonnes ("Mt") and 31 Mt, respectively.* For grades by individual metals, see Table 1 below, which includes the basis of the AuEq calculation. Brownfields site on private land potentially simplifies permitting: The current MRE for Northumberland is contained on private property which previously hosted open pit production.StrikePoint is funded to significantly advance Northumberland. With approximately C$90M in working capital post closing and related costs the Company is positioned to rapidly advance the Project. Regional Exploration Package: In addition to the known mineral resources at Northumberland, numerous near-pit and property-wide exploration targets offer potential for further additions to the mineral resource.Exploration Opportunities: Northumberland has not been explored since approximately 2010, when the gold price was much lower. Drill Permits in Place: Five separate drill permits are currently in place and are expected to facilitate rig mobilization and efficient exploration on both private and public land, subject to applicable permit transfer or replacement requirements.Strong Shareholder Base: Tembo Capital, Ithaki and Blackrock combined own more than 40% of the Company, and new shareholders represent more than 90% of the current shareholders of the Company. Michael G. Allen, President and CEO of StrikePoint, said "Northumberland represents a transformational acquisition for StrikePoint. While the current resource is significant, I am particularly excited by the exploration potential seen to date. We anticipate commencing drilling within a month with the goal of expanding and infilling the existing mineral resource. In addition, new untested targets are emerging and may be drilled in 2027. I would like to thank all the talented individuals that helped with the effort to acquire the Northumberland Gold Project and I look forward to the first exploration efforts on the Project in over 15 years."

The Northumberland Gold Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5044/318008_94462ddf54d0ab84_002full.jpg

References to active mines and other mineral projects is for illustration purposes only. There can be no assurances the Company will achieve comparable results.

Project Location & Infrastructure

Northumberland is located approximately 150 kilometers by road from Tonopah, Nevada. Access is via paved highway and all-weather county road. Northumberland is located within the Walker Lane of Nevada. The Walker Lane is a prolific mineral trend with significant historical production, new discoveries (including AngloGold's Arthur Gold Project as well as Centerra's Goldfield Project, both currently under construction) and operational mines including the Round Mountain Mine operated by Kinross. Northumberland's mineralization is considered to be Carlin-style: sediment hosted with fine disseminated gold. References to other mining projects and operations are for geographic context only and are not intended to imply comparable economics, resources, or production potential.

Project History

Gold was initially discovered at Northumberland in the late 1800s. Significant oxide mineralization was discovered in the 1930s and was mined intermittently by various operators until 1991. Interests in the property were transferred to Nevada Western Gold LLC, which became a subsidiary of New West Gold in 2005. Fronteer Gold acquired Nevada Western's interest in Northumberland in 2007, before Fronteer, including Northumberland, was acquired by Newmont in 2011.

Initial Mineral Resource Estimate

The current MRE represents StrikePoint's initial MRE for the Project. The available drilling information includes 1,511 reverse-circulation and 37 core holes, drilled by previous operators of the Project, including Cyprus Mines Corporation, Western States Minerals Corporation, Newmont USA Limited, and Fronteer Development Group Inc. StrikePoint has not yet carried out any drilling or exploration activities at the Project.

The MRE was prepared by Mr. Hebert Lopes Oliveira, B.Sc., P.Geo., Principal Resource Geologist at SLR Consulting (Canada) Ltd. ("SLR"), who is an independent Qualified Person ("QP") for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The MRE has an effective date of July 31, 2026 and uses the CIM (2019) Estimation of Mineral Resources and Mineral Reserves (MRMR) Best Practice guidelines and the CIM (2014) definitions for Mineral Resources. SLR has estimated a mineral resource as follows:

Indicated Resource: 67,008 kt containing 2.71 Moz of gold ("Au") grading at 1.26 g/t Au with 11.60 Moz of silver ("Ag") grading at 5.38 g/t Ag. Combined, the gold and silver indicated mineral resource equates to 2.86 Moz of AuEq* at an average grade of 1.33 g/t AuEq*. Inferred Resource: 30,967 kt containing 1.52 Moz of gold at a grade of 1.53 g/t Au with 4.26 Moz of silver at a grade of 4.28 g/t Ag. Combined, the gold and silver inferred mineral resource equates to 1.57 Moz of AuEq* at an average grade of 1.58 g/t AuEq*. * For grades by individual metals, see Table 1 below, which includes the basis of the AuEq calculation.

Table 1: Northumberland Resource Estimate (Effective Date of July 31, 2026)

Category Tonnage
(kt) Grade
(g/t Au) Grade
(g/t Ag) Grade
(g/t AuEq*) Contained Metal
(Au oz) Contained Metal
(Ag oz) Contained Metal
(AuEq* oz) Indicated 67,008 1.26 5.38 1.33 2,709,000 11,599,000 2,857,000 Inferred 30,967 1.53 4.28 1.58 1,519,000 4,260,000 1,568,000 Notes: The MRE was prepared by Mr. Hebert Lopes Oliveira, B.Sc., P.Geo., Principal Resource Geologist at SLR, who is an independent Qualified Person (QP) for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). This is the initial MRE for StrikePoint, and reflects revised price, cost, and technical assumptions over historical MREs, which should not be relied on. The MRE incorporates the CIM (2019) Estimation of Mineral Resources and Mineral Reserves (MRMR) Best Practice guidelines and the CIM (2014) definitions were followed for Mineral Resources. Metallurgical recoveries consider oxidation state as defined by sulphide content: < 0.5% (oxide) and ≥ 0.5% (fresh), and further subdivide fresh material into low, medium and high preg robbing categories as estimated from preg robbing values (PRV) and assumed as follows: Oxide material: 75% for both Au and Ag Fresh, low PRV material: 90% Au; 70% Ag Fresh, medium PRV material: 80% Au; 60% Ag Fresh, high PRV material: 60% Au; 40% Ag Gold Equivalent (AuEq) = Au(g/t) + (Ag(g/t) x (Ag price x Ag recovery / Au price x Au recovery)).Mineral Resources are estimated at variable AuEq cut-off grades based on long term prices of US$3,500 per gold ounce and US$55 per silver ounce and Au and Ag recoveries by material type as follows: 0.16 g/t (oxide); 0.31 g/t (fresh, low PRV); 0.35 g/t (fresh, medium PRV); and 0.47 g/t (fresh, high PRV). Mineral Resources are reported within an optimized pit shell, using the following assumptions: Overall pit slope angles of 45° Mining costs of US$2.12/tonne (t) mined G&A costs of US$1.35/t milled Processing costs of US$12/t milled (oxide); US$30/t milled (sulphide) In situ bulk density is 2.6 t/m3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There are no Mineral Reserves at Northumberland. This Mineral Resource estimate includes Inferred Mineral Resources which have had insufficient work to classify them as Indicated Mineral Resources. It is uncertain but reasonably expected that Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. Numbers may not add or multiply accurately due to rounding. The effective date of the Mineral Resource Estimate for Northumberland is July 31, 2026 The QP is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors not discussed in this news release and the Technical Report that could materially affect the Mineral Resource estimate. Table 2: Pit Optimization Parameters and Calculation of Marginal Cut-Off Grades

Parameter Units Non Preg-
Robbing (Oxides) Low Preg-
Robbing Medium Preg-
Robbing High Preg-
Robbing Gold Price US$/oz3,500 3,500 3,500 3,500 Gold Payability %99.5 99.5 99.5 99.5 Selling Cost (Transport & Refining) US$/oz Au5.00 5.00 5.00 5.00 NSR Price US$/oz Au3,495 3,495 3,495 3,495 Metallurgical Recovery %75 90 80 60 Unit Operating Costs (Process + G&A) US$/t milled13.35 31.35 31.35 31.35 Marginal Cut-off Grade g/t0.16 0.31 0.35 0.47 The Northumberland deposit is open in multiple directions, and the property package has targets that may be subject to future exploration. Any potential expansion of the MRE would be subject to the results of further exploration.

Qualified Person Statement

All technical data and scientific data, as disclosed in this news release, have been reviewed and approved by Michael G. Allen, P.Geo., President and CEO of the Company. Mr. Allen is a qualified person as defined under the terms of NI 43-101.

About StrikePoint

StrikePoint is a Vancouver-based multi-asset gold exploration company focused on acquiring, defining and developing precious metals resources in the Western United States. StrikePoint's flagship project is the 100% owned Northumberland Gold Project located in Nevada's Walker Lane. In addition to Northumberland, StrikePoint owns a portfolio of exploration properties in Nevada, including the Hercules and Cuprite Gold Projects.

About Nevada

Nevada is one of the most globally recognized mining jurisdictions in the world, with over 218 Moz Au produced to date. Multiple large mining companies operate mines in the state, including Nevada Gold Mines (Barrick/Newmont), Kinross, SSR Mining, McEwen Mining, and Integra Resources.

ON BEHALF OF THE BOARD OF DIRECTORS OF STRIKEPOINT GOLD INC.

"Michael G. Allen"

Michael G. Allen
President, Chief Executive Officer & Director

For more information, please contact:      StrikePoint Gold Inc. Michael G. Allen, President, CEO & Director Knox Henderson, Head of Investor RelationsT: (604) 374-8381 T: (604) 551-2360E: [email protected] E: [email protected]: www.strikepointgold.com Cautionary Statement on Forward-Looking Information

Certain statements made and information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information are characterized by such terms as "anticipate", "target", "estimate", "plan", "expect", "potential", variants of these words and other similar words, phrases, or statements that certain events or conditions "could", "may", "will", or "would" occur. These forward-looking statements or information relate to, among other things: the intended use of the Company's balance sheet; the payment of the contingent consideration to Newmont following completion of a Feasibility Study and the achievement of certain commercial production milestones at Northumberland; the MRE, including the potential upgrade of Inferred Mineral Resources to Indicated Mineral Resources with continued exploration; the Company's exploration and development plans for Northumberland and the results thereof, including the exploration targets described herein and the potential expansion of the MRE; the potential for the location of the MRE on private land to simplify permitting; and the expectation that existing drill permits will facilitate rig mobilization and efficient exploration, and the transfer or replacement of such permits following closing; the timing of the commencement of drilling, and the results thereof; and the assumptions used to define the mineral resources, including costs and assumed recoveries.

Such forward-looking information and statements are based on numerous assumptions, including, among others, that the MRE will not be materially revised, that further exploration at Northumberland will produce results consistent with management's expectations, that the Company will complete a Feasibility Study and achieve certain commercial production milestones at Northumberland as currently contemplated, that existing drill permits will be successfully transferred or replaced following closing, that required permits and approvals will be obtained on a timely basis, that trading in the Shares will resume on the TSXV within the timeframe anticipated by management, and that the Company will have access to sufficient capital to fund its planned exploration and development activities. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

All of the forward-looking statements made in this document are qualified by these cautionary statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to: business integration risks; the accuracy of the MRE, which is based on assumptions regarding metal prices, cut-off grades, recoveries and other parameters that may prove incorrect; the fact that Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability; the risk that further exploration will not result in the delineation of additional mineral resources at Northumberland or the upgrade of Inferred Mineral Resources to Indicated Mineral Resources; delays in, or failure to complete, a Feasibility Study or achieve certain commercial production milestones at Northumberland, which would affect the timing of the contingent payments to Newmont; the risk that existing drill permits may not be successfully transferred or replaced following closing; delays in the resumption of trading in the Shares; fluctuations in gold and silver prices; market conditions and access to capital; and other risks associated with the mining industry, including permitting, environmental, title and regulatory risks. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward-looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note for U.S. Investors Concerning Mineral Resources

This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of United States securities laws. The terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under the U.S. Securities and Exchange Commission ("SEC") modernization rules, known as "S-K 1300", and are normally not permitted to be used in reports and registration statements filed with the SEC. Investors are cautioned not to assume that all or any part of a "measured mineral resource", "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category or converted into mineral reserves in accordance with S-K 1300. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. Disclosure of "contained ounces" in a mineral resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC S-K 1300 standards as in place tonnage and grade without reference to unit measures. Accordingly, information contained in this news release contains descriptions of the Company's mineral deposits that may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318008

Source: StrikePoint Gold Inc.

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Gold Defied the Fed’s Rate Hike—These 3 Plays Stand OutNewmont NYSE: NEM said it is focused on converting a constructive gold market, operational improvements and portfolio investments into sustainable per-share value, as the company reported record free cash flow during the first half of 2026.

In remarks at a company event, Natascha, Newmont’s CEO, said the miner has reshaped its business through portfolio integration and rationalization, balance-sheet strengthening and operating discipline. The company is now focused on extracting more value from its portfolio of 12 assets through consistent execution, productivity improvements and cost control.

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Bond Yields Are Pressuring Gold, But Miners May Tell a Different Story“The next level of transformation is going to be in ensuring that we execute on the underlying value in that portfolio,” Natascha said.

Newmont said operational performance, strong commodity prices and continued cost discipline generated a record $5.3 billion in free cash flow during the first six months of 2026. Through its second-quarter earnings call, the company had returned $4.6 billion to shareholders through quarterly dividends and share repurchases.

Capital Returns and Balance-Sheet Priorities Gold and Bitcoin Are Rebounding—2 ETFs Give Investors a Different Kind of ExposureThe company reiterated its capital-allocation framework, which prioritizes reinvestment in its portfolio, maintenance of a resilient balance sheet and return of excess cash to shareholders through dividends and buybacks.

Newmont said repurchases completed to date had reduced its share count by more than 100 million shares, or about 9%. The lower share count means each remaining share represents a larger interest in the company’s earnings, free cash flow and future growth opportunities, management said.

Based on buybacks already completed, Newmont said the formula in its capital-return framework would support a quarterly dividend of $0.27 per share at its next annual review. That would represent an 8% increase since the enhanced framework was introduced in February, according to the company.

Natascha said share repurchases will continue to be weighed against investments in development projects and the long-term potential of the business. Newmont has an additional $6 billion approved for share repurchases, she said, adding that the company has made progress under that authorization and can seek further board approvals as needed.

Nevada Joint Venture and Exploration Pipeline Management also highlighted the recently modernized agreement with Barrick involving Nevada Gold Mines. Natascha said the agreement enables what she described as the first unconstrained optimization of an integrated portfolio of assets in the district.

The arrangement should allow Newmont and Barrick to evaluate near-, medium- and long-term opportunities across the district and work toward realizing its full potential, she said.

Dave Thornton, Newmont’s newly appointed chief technical officer, said the company plans to invest about $240 million in exploration during 2026, with 80% directed toward brownfield growth opportunities. Thornton, who has more than 25 years of mining-industry experience and has worked at Newmont for more than a decade, said the company aims to better integrate its technical capabilities into operating sites and projects.

He identified several exploration areas that management views as promising:

Brucejack in British Columbia: Thornton said the Dozer Zone, located roughly 700 meters from existing infrastructure, could potentially be equivalent to the Valley of the Kings deposit that formed the basis for the Brucejack operation. Merian: Continued drilling is expanding the company’s view of the district’s potential, with Thornton saying the asset could potentially grow production to double current levels. Ahafo South in Ghana: Opportunities include continued depth potential at Subika and the Apensu underground area. Growth Projects and Cost Discipline Thornton said Newmont has characterized 2026 as a production trough year, with several projects expected to support future growth. Those include the conclusion of pre-stripping at Boddington, commissioning preparations for the TE2 expansion, two cave additions at Cadia, the CNE1 Cerro Negro expansion in Argentina and the Nearshore Barrier project at Lihir.

On costs, Natascha said Newmont reset its cost base last year and has delivered a material reduction in overall costs, including general and administrative expenses. Productivity efforts and the revised cost base have helped offset pressures from higher royalties, worker participation costs and uncertainty around energy prices, she said.

Management said it intends to maintain a cost-conscious culture across operations in order to protect margins generated by higher gold prices and direct capital toward the highest-return opportunities.

About Newmont (NYSE:NEM)Newmont Corporation is a global mining company focused primarily on the exploration, development and production of gold. Its portfolio also includes operations and projects involving copper, silver, zinc and lead. The company's activities span the mining life cycle, including exploration, mine development, production, processing, reclamation and related environmental management.

Founded in 1921, Newmont is headquartered in Denver, Colorado, and has built a long history in the gold-mining industry through organic development, acquisitions and joint ventures.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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TNR Gold Corp (TSX-V:TNR, FRA:TNW, OTC:TRRXF) said its investigation into Eucalyptus Resources Opportunities Fund 1, LP has uncovered evidence of a potential conspiracy among Eucalyptus and undisclosed joint actors to secretly acquire and vote company shares in a bid to seize control of its board.

The alleged scheme, led by Jon Christian "JC" Evensen, appears to extend well beyond what Eucalyptus has publicly disclosed and may breach securities laws, the company said, ahead of its annual general and special meeting of shareholders on September 22, 2026.

Despite requests for transparency, TNR Gold said no corrective disclosure has been made by Eucalyptus or its suspected joint actors as of the announcement date.

The company said it has significant concerns that shareholders may have been deprived of information material to their voting decisions and is evaluating options to protect shareholder interests and the integrity of the voting process at the meeting.

TNR Gold said its investigation remains ongoing and it will provide further updates as appropriate.

Shares of TNR Gold moved 6.3% higher on Thursday morning.

Key Takeaways Newmont's shares have surged 59.8% in a year, fueled by forecast-topping earnings on higher prices.NEM's growth projects will expand production capacity, extend mine life and support future earnings.Lower 2026 production and higher unit costs could pressure Newmont's profitability. Newmont Corporation's (NEM - Free Report) shares have shot up 59.8% over the past year, courtesy of its forecast-topping earnings performance, driven by operational efficiency, higher realized gold prices and the strength of its asset portfolio. The recent rebound in bullion prices has also contributed to the price appreciation.

NEM stock has outperformed the Zacks Mining – Gold industry’s 37.6% rise and the S&P 500’s 16.6% increase. Among its gold mining peers, Barrick Mining Corporation (B - Free Report) , Agnico Eagle Mines Limited (AEM - Free Report) and Kinross Gold Corporation (KGC - Free Report) have gained 50.5%, 30.3% and 25.3%, respectively, over the same period.

NEM’s One-year Price Performance  Image Source: Zacks Investment Research

The NEM stock broke above its 50-day simple moving average (SMA) on Aug. 5, 2026, thanks to the rise in gold prices. It is also trading above its 200-day SMA, suggesting a long-term uptrend.

NEM Stock Trades Above 50-Day SMA Image Source: Zacks Investment Research

Let’s take a look at NEM’s fundamentals to analyze the stock better.

Newmont Poised for Growth on Key ProjectsNewmont continues to invest in growth projects in a calculated manner. The company is pursuing several projects, including the Cadia Panel Caves and Tanami Expansion 2 in Australia. These projects should expand Newmont’s production capacity and extend mine life, driving revenues and profits. NEM has recommenced work at the Cadia panel cave project following the seismic event in April. The Tanami expansion is progressing with an expected completion of all underground infrastructure by the end of the third quarter of 2026.

In October 2025, NEM achieved commercial production at Ahafo North, which followed the first gold pour in September 2025. Ahafo North is expected to produce between 275,000 and 325,000 ounces of gold annually over an estimated mine life of 13 years.

NEM has also received key regulatory approvals from the Province of British Columbia for its Red Chris Block Cave Project, marking a major milestone in the planned transformation of the Red Chris Mine from an open-pit operation to a large-scale block-cave mine. The approvals take the project closer to the final investment decision.

NEM’s Capital Allocation Backed by Solid Financial HealthNewmont has a strong liquidity position and generates substantial cash flows, which allow it to fund its growth projects, meet short-term debt obligations and drive shareholder value. At the end of the second quarter of 2026, Newmont had robust liquidity of roughly $13 billion, including cash and cash equivalents of around $9 billion. Net cash provided by operating activities amounted to $2.9 billion, up roughly 23% from the year-ago quarter. Its free cash flow climbed 29% year over year to a record $2.2 billion, led by an increase in net cash from operating activities.

Newmont stands to benefit from higher gold prices, which should drive its profitability and cash flow generation. Its average realized price of gold jumped around 33% year over year in the second quarter, leading to a rise in its top line.  Although gold prices have pulled back significantly from their January 2026 peak of nearly $5,600 per ounce, they remain favorable.

Bullion came under renewed pressure after hitting a more than three-month high near $4,650 per ounce in late August 2026. Prices fell to a more than three-week low near $4,300 an ounce earlier this month. A spike in oil prices intensified inflation concerns, while higher Treasury yields and a stronger dollar reduced gold's appeal. These, combined with increased expectations for a U.S. interest rate hike, weighed on gold. Gold prices again climbed to above $4,400 an ounce as the greenback and Treasury yields eased from recent highs. However, rising rate-hike expectations amid inflation fears from surging oil prices fueled by heightened U.S.-Iran tensions are again weighing on the yellow metal, with prices hovering above $4,300 an ounce lately, but still up nearly 19% year over year.

Meanwhile, Newmont distributed $3.4 billion to its shareholders through dividends and share repurchases in 2025. It has returned $1.9 billion to its shareholders since April 23, 2026. Newmont has executed buybacks under the current $6 billion authorized share repurchase program, with $4.3 billion remaining under it. NEM offers a dividend yield of 0.8% at the current stock price. Its payout ratio is 11%.

Newmont also remains committed to deleveraging, reducing debt by roughly $3.4 billion in 2025. It ended the second quarter with a strong net cash position of $3.4 billion and remains actively focused on managing its debt.

Lower Production, Higher Costs Ail NewmontNEM saw lower gold production for the second quarter, partly linked to its strategic divestment of non-core assets. The company reported a roughly 13% year-over-year and 1% sequential decline in attributable gold production to 1.29 million ounces. Lower output from Cadia and reduced grades across certain mines impacted production. Newmont expects third-quarter 2026 production to be largely in line with the second-quarter level.

The company anticipates gold production at about 5.26 million ounces for 2026, indicating a year-over-year decline from 5.89 million ounces in 2025. NEM expects lower production from Penasquito and Cadia in 2026 due to site transitions. It also sees lower-than-expected production from Nevada Gold Mines and Pueblo Viejo. These will be partly offset by contributions from the newly commissioned Ahafo North mine.

Lower production is expected to lead to higher unit costs in 2026. NEM expects all-in-sustaining costs (AISC) — a critical cost metric for miners — to be $1,680 per ounce on a by-product basis, indicating a notable increase from $1,358 per ounce in 2025. The expected increase is due to lower sales volumes as a result of planned mine sequencing, higher royalties and production taxes, deferral of sustaining capital from 2025 into 2026 and inventory changes. Newmont also sees a sequential rise in unit costs in the third quarter, mainly due to increased sustaining capital spending and higher oil prices. The production decline and higher costs could undercut the profitability goals.

NEM’s Earnings Estimates Moving LowerNewmont’s earnings estimates for 2026 have been going down over the past 60 days. The Zacks Consensus Estimate for third-quarter 2026 has also been revised lower over the same time frame.

Image Source: Zacks Investment Research

A Look at Newmont Stock’s ValuationNewmont is currently trading at a forward price/earnings of 13.15X, a modest 2.7% discount to the industry average of 13.52X. NEM is trading at a premium to Barrick and Kinross Gold and at a discount to Agnico Eagle. Newmont and Barrick currently have a Value Score of B each. Kinross Gold and Agnico Eagle have a Value Score of A and C, respectively.

NEM’s P/E F12M Vs. Industry, B, AEM and KGC Image Source: Zacks Investment Research

Final Thoughts: Hold Onto NEM SharesNewmont is well-positioned for growth, backed by strong operating performance and a robust project pipeline that is expected to expand production capacity, extend mine life and support revenue and earnings growth. Higher year-over-year realized prices should continue to boost NEM’s profitability and drive cash flow generation. However, lower production stemming from divestitures and lower ore grades, along with elevated costs, could pressure overall performance. Moreover, declining earnings estimates add to the concerns surrounding the company’s outlook.  Retaining this Zacks Rank #3 (Hold) stock will be prudent for investors who already own it.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

BNP Paribas purchased a new position in Newmont Corporation (NYSE:NEM – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 116,016 shares of the basic materials company’s stock, valued at approximately $2,425,000.

Other hedge funds have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new stake in shares of Newmont during the first quarter worth $25,000. Cedar Mountain Advisors LLC bought a new stake in shares of Newmont during the first quarter valued at about $25,000. Clearstead Trust LLC bought a new stake in shares of Newmont during the second quarter valued at about $25,000. Swiss RE Ltd. purchased a new position in Newmont during the fourth quarter worth about $26,000. Finally, Kilter Group LLC purchased a new position in Newmont in the 2nd quarter worth approximately $26,000. Institutional investors own 68.85% of the company’s stock.

Newmont Stock Down 3.4% NEM stock opened at $127.84 on Friday. The firm has a market cap of $134.70 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47. The company has a quick ratio of 2.26, a current ratio of 2.55 and a debt-to-equity ratio of 0.15. Newmont Corporation has a twelve month low of $72.78 and a twelve month high of $135.29. The business has a 50 day moving average of $104.23 and a 200 day moving average of $109.57.

Newmont (NYSE:NEM – Get Free Report) last issued its earnings results on Thursday, July 23rd. The basic materials company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.05. The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.35 billion. Newmont had a net margin of 33.36% and a return on equity of 29.10%. During the same period in the previous year, the company earned $1.43 earnings per share. On average, research analysts forecast that Newmont Corporation will post 9.01 EPS for the current fiscal year. Newmont Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Thursday, September 3rd will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, September 3rd. Newmont’s payout ratio is presently 13.13%.

Insider Activity at Newmont In related news, CFO Brian Tabolt sold 11,445 shares of Newmont stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.09, for a total value of $1,202,755.05. Following the completion of the sale, the chief financial officer directly owned 29,324 shares in the company, valued at approximately $3,081,659.16. This trade represents a 28.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Natascha Viljoen sold 7,764 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $104.00, for a total value of $807,456.00. Following the completion of the transaction, the chief executive officer directly owned 135,235 shares of the company’s stock, valued at approximately $14,064,440. This trade represents a 5.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,091 shares of company stock valued at $3,292,513 over the last ninety days. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In Several research analysts recently issued reports on the stock. Weiss Ratings lowered shares of Newmont from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Jefferies Financial Group decreased their price target on Newmont from $158.00 to $146.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. National Bank Financial dropped their price target on shares of Newmont from $140.00 to $125.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Argus set a $110.00 price objective on shares of Newmont in a research report on Monday, August 3rd. Finally, BNP Paribas Exane decreased their price objective on Newmont from $111.00 to $102.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Newmont presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.73.

Get Our Latest Report on Newmont

Newmont Profile (Free Report)

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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Key Takeaways Newmont's co-product AISC rose 22% year over year to $1,938 per ounce in the second quarter.Lower sales volumes, higher royalties and taxes are expected to lift 2026 AISC to $1,680 per ounce.Higher sustaining capital spending and oil prices are expected to drive a sequential cost rise in Q3. Newmont Corporation’s (NEM - Free Report) gold costs applicable to sales (CAS) rose roughly 20% year over year to $1,463 per ounce on a co-product basis in the second quarter of 2026. All-in sustaining costs (AISC) — the most important cost metric of miners — were $1,938 per ounce, reflecting a roughly 22% year-over-year increase. Both metrics also increased year over year on a by-product basis. AISC increased due to higher CAS and increased sustaining capital spending. CAS was impacted by lower gold volumes.

Lower production is expected to lead to higher unit costs in 2026. NEM expects AISC to be $1,680 per ounce on a by-product basis, indicating a notable increase from $1,358 per ounce in 2025. The expected increase is due to lower sales volumes as a result of planned mine sequencing, higher royalties and production taxes, deferral of sustaining capital from 2025 into 2026 and inventory changes.

Newmont also sees a sequential rise in unit costs in the third quarter, mainly due to increased sustaining capital spending and higher oil prices. The production decline and higher costs could undercut the profitability goals.

Looking across the competitive landscape, Barrick Mining Corporation (B - Free Report) saw an 11% year-over-year increase in AISC to $1,866 per ounce in the second quarter. Barrick projects AISC to be $1,760-$1,950 per ounce for 2026. Cash costs per ounce are forecast to be $1,330-$1,470. Barrick also expects cost of sales of $1,870-$2,070 per ounce.

Agnico Eagle Mines Limited (AEM - Free Report) also remains exposed to higher production costs. AEM’s AISC was $1,459 per ounce in the second quarter, marking a roughly 14% year-over-year rise, impacted by higher total cash costs and an uptick in sustaining capital expenditures. Agnico Eagle forecasts total cash costs per ounce in the range of $1,020 to $1,120 and AISC per ounce between $1,400 and $1,550 for 2026, suggesting a year-over-year increase at the midpoint of the respective ranges.

The Zacks Rundown for NEMShares of Newmont have shot up 70.7% in the past year compared with the Zacks Mining – Gold industry’s 50.5% rise.

Image Source: Zacks Investment Research

From a valuation standpoint, NEM is currently trading at a forward 12-month earnings multiple of 12.31, a modest 0.3% premium to the industry average of 12.27X. It carries a Value Score of B.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for NEM’s 2026 and 2027 earnings implies a year-over-year rise of 30.6% and 10.1%, respectively. The EPS estimates for 2026 and 2027 have been trending lower over the past 60 days.

Image Source: Zacks Investment Research

Shares of Barrick Mining (B -1.44%) are down around 0.5% so far this year and off roughly 20% from their 52-week high of $54.69. Based on those numbers, you would think the Canadian mining company is having a bad year, but that's far from the case.

The company reported gold production of 719,000 ounces in the first quarter, up from its guidance of 640,000 to 680,000 ounces. Copper production rose 11%, year over year, to 49,000 tonnes. That increased production, along with elevated prices for gold and copper, is leading to better financials.

Barrick's share price presents an opportunity. Here are three reasons why the stock may be a buy now.

Image source: Getty Images.

Gold may be back on the rise After falling from its all-time high of $5,590 per troy ounce in January, gold is back on the rebound. In June, it had tumbled to below $4,000 per troy ounce for the first time since November 2025, but now it is back over $4,300 per ounce.

While gold is typically viewed as a safe-haven play, its gains during 2025 made gold holdings an obvious asset for liquidity-hit investors to sell once the conflict in Iran broke out at the end of February. On top of that, the rising oil costs stemming from that conflict raised concerns about inflation and potentially higher interest rates, which can make investing in gold less attractive.

As of Aug. 7, though, the precious metal was back up to $4,340 per ounce, up more than 5% over the past month. Some analysts think a new gold run may just be beginning. JPMorgan Chase Global Research forecasts prices per ounce to average $6,000 per ounce by the final quarter of 2026, rising toward $6,300 per ounce by the end of 2027.

And gold is only part of the equation. Copper, increasingly seen as important for technology for its electrical and thermal conductivity, is up more than 38% so far this year.

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Barrick's situation in Mali has improved Barrick appears to have settled its problems in the West African nation of Mali. One of the company's largest mines in Africa is Loulo-Gounkoto in Mali. However, after coups in 2020 and 2021, Mali reformed its mining regulations, scrapping stability clauses, adding mid-cycle tax audits with draconian penalties, and requiring companies to agree to a greater local-company ownership dilution, from 20% to 35%.

None of this was good for Barrick, and operations at Loulo-Gounkoto were shut down in 2023 during the dispute. Since late last year, though, the company has been back in control of the mine. Up to 750,000 ounces of gold can be produced there annually, and a return to full operational control is boosting the company's cash flows.

In the first quarter, the company saw increased gold and copper production, leading to better financials. Earnings per share (EPS) were $0.96, up 256%, year over year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 103% over the same period last year to $2.76 billion and EBITDA margin was up 29%, year over year, to 66%. Revenue was reported as $5.22 billion, up 67%, over the same period in 2025.

The proposed spinoff of its North American operations could add value The company has said it plans an initial public offering (IPO) of its North American operations by 2026, retaining control through a 10% to 15% minority stake. The move would make the company's business segments more transparent.

It also could be a boon for investors. Its Tier One North American mining assets would likely command higher enterprise value/EBITDA multiples than Barrick's combined current multiples due to lower geopolitical risk, more stable regulatory frameworks, and stronger institutional investor appetite.

Those plans look more workable now that Barrick has settled its dispute with its venture partner, Newmont (NEM -3.18%), which had filed a formal dispute in February 2026 over production declines at Nevada Gold Mines. Under the terms of the deal, Newmont will pay Barrick $1.95 billion and has consented to Barrick's IPO of its North American mines. It remains to be seen whether strategic advantages and operational efficiency gains will justify such a complex restructuring.

One last reminder Barrick's investors can afford to be patient because of the company's shareholder-friendly actions. After a $1.5 billion share repurchase plan in 2025, it approved a new stock repurchase plan of up to $3 billion in the first quarter of 2026.

Its dividend yield is about 2.11% at the stock's current price. That dividend would grow with better performance. In November, Barrick raised its quarterly base dividend by 25% to $0.125 per share, with the additional amount tied to a performance system.

Highlights

Awalé completes its previously announced strategic financing with the closing of Newmont's equity investment.Newmont maintains its approximately 8.2% ownership in Awalé.Awalé now has over $36.5 million in cash, while Newmont continues funding the Odienné Joint Venture.Toronto, Ontario--(Newsfile Corp. - August 6, 2026) - Awalé Resources Limited (TSXV: ARIC) (OTCQX: AWLRF) (FSE: 2F60) ("Awalé" or the "Company") is pleased to announce that it has closed the second and final tranche (the "Final Tranche") of its non-brokered private placement previously announced on July 14, 2026 and July 28, 2026 (the "Offering") through the subscription by Newmont Ventures Limited, a wholly-owned subsidiary of Newmont Corporation (NYSE: NEM) (ASX: NEM) (PNGX: NEM) ("Newmont"), pursuant to an investment agreement entered into between Newmont and the Company dated as of today's date (the "Investment Agreement") and in accordance with the exercise of its pre-existing participation rights. The closing of the Final Tranche (the "Closing") completes the Company's strategic financing with Predictive Discovery Limited ("PDI"), Fortuna Mining Corp. ("Fortuna") and Newmont pursuant to the Offering, for aggregate gross proceeds of approximately $20.7 million. Proceeds from the Offering, including the Final Tranche, will be primarily used to advance exploration activities across the Company's 100%-owned properties at the Odienné Project in Côte d'Ivoire.

"We welcome Newmont's decision to maintain its ownership position in Awalé through this financing. As the world's largest gold producer, Newmont's continued backing through its ongoing funding of the Odienné Joint Venture and its commitment as a strategic shareholder is a strong endorsement of the quality and long-term potential of the Odienné Project. Together with the investments from PDI and Fortuna, Awalé now has over $36.5 million in cash, providing the flexibility to accelerate exploration across our 100%-owned properties," said Andrew Chubb, President and CEO of Awalé.

Pursuant to the Final Tranche of the Offering, Newmont subscribed for 1,982,538 common shares of the Company ("Common Shares") at a price of $0.85 per Common Share for gross proceeds of $1,685,157.30. Following Closing, Newmont owns 11,682,639 Common Shares, representing approximately 8.2% of the Company's issued and outstanding Common Shares on a non-diluted basis.

Following completion of the Offering, the Company has 143,317,133 Common Shares issued and outstanding. The Company issued an aggregate of 24,320,202 Common Shares to PDI, Fortuna, and Newmont for gross proceeds of $20,672,171.70.

No warrants were issued and no commission was paid in connection with the Final Tranche of the Offering. All securities issued pursuant to the Offering are subject to a statutory hold period of four months plus one day from their respective dates of issuance in accordance with applicable Canadian securities laws. The Offering remains subject to final TSX Venture Exchange ("TSXV") acceptance.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements.

For the purposes of the Offering, U.S. dollar amounts have been converted to Canadian dollars using an exchange rate of US$1.00 = C$1.4146. Unless otherwise specified, all references to $ are Canadian dollars.

Canadian Early Warning Disclosure

Newmont announces that pursuant to the Investment Agreement, it has acquired, on a private placement basis, 1,982,538 Common Shares at a price of US$0.6009 (representing the US Dollar equivalent of $0.85 based on an exchange rate of US$1.00 = C$1.4146) per Common Share for an aggregate purchase price of US$1,191,307.08 (representing the US Dollar equivalent of $1,685,223).

Immediately prior to the Closing, Newmont held 9,700,101 Common Shares and 1,454,357 Common Share purchase warrants ("Warrants"), with each Warrant being exercisable to acquire one Common Share (a "Warrant Share") at a price of $0.20 per Warrant Share for a period of 36 months from December 18, 2023. As such, immediately prior to the Closing, Newmont: (i) held approximately 6.86% of the issued and outstanding Common Shares on a non-diluted basis, and (ii) assuming the exercise in full of all of the Warrants, would have held approximately 7.81% of the issued and outstanding Common Shares on a partially-diluted basis. For more information regarding such Common Shares and Warrants, see Newmont's early warning report dated December 5, 2023 filed on Awalé's SEDAR+ profile.

Immediately following Closing of the Final Tranche of the Offering: (i) Newmont holds an aggregate of 11,682,639 Common Shares and 1,454,357 Warrants, representing approximately 8.15% of the issued and outstanding Common Shares on a non-diluted basis, and (ii) assuming the exercise in full of all of the Warrants, Newmont would hold an aggregate of 13,136,996 Common Shares, representing approximately 9.07% of the issued and outstanding Common Shares on a partially-diluted basis.

Newmont acquired the Common Shares pursuant to the Final Tranche of the Offering for investment purposes, and in the future, Newmont may, from time to time, increase or decrease its investment in Awalé through market transactions, private agreements, treasury issuances or otherwise, depending on market conditions and any other relevant factors.

Newmont's head office is located at 6900 E Layton Avenue, Suite 700, Denver, CO 80237.

An early warning report will be filed by Newmont in accordance with applicable securities laws and will be available under Awalé's profile on the SEDAR+ website at www.sedarplus.ca, and may also be obtained by contacting Neil Backhouse, [email protected] or Shannon Brusche, [email protected].

About Awalé Resources

Awalé Resources is a diligent and systematic mineral exploration company focused on discovering large-scale gold and gold-copper deposits in Côte d'Ivoire. The Company's flagship Odienné Project now hosts an initial inferred Mineral Resource Estimate[1] of 1.71 million ounces gold equivalent across the BBM, Charger, and Empire deposits (32.4 Mt at 1.33 g/t Au and 0.33% Cu), providing a strong foundation for ongoing growth and future economic studies.

The Odienné Project covers 2,346 km2 across seven permits, including 797 km2 held under the Awalé-Newmont Joint Venture. Awalé manages exploration activities across the joint venture area, with funding currently provided by Newmont Ventures Limited under the Exploration Agreement signed in May 2022.

In addition to the current resource base defined on the joint venture ground, Awalé controls a substantial 100%-owned land position across the broader Odienné district, where multiple untested and early-stage targets provide additional potential discovery upside. Across the Project, Awalé has identified multiple gold and gold-copper systems and continues to build a pipeline of targets with potential to support further discoveries and resource growth.

With a skilled and experienced technical team, together with support from three strategic shareholders, Awalé is advancing exploration in an underexplored and pro-mining jurisdiction with clear potential for district-scale discoveries.

AWALÉ Resources Limited

On behalf of the Board of Directors

"Andrew Chubb"
Chief Executive Officer

The Company's public documents may be accessed at www.sedarplus.ca. For further information on the Company, please visit our website at www.awaleresources.com.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plan, propose, potential, postulate, target, continue, advance and similar expressions, or are those which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the receipt of TSXV final acceptance for the Offering, filing of early warning report, the use of proceeds from the Offering, the Company's presence in Côte d'Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont exploration agreement, advancement and expansion of the Odienné Project, the potential size, scale and quality of the mineral resource estimate at BBM, Charger and Empire, the conversion or upgrading of inferred mineral resources, timing and results of future drilling programs, resource expansion potential at BBM, Charger and Empire, and exploration and discovery potential at Fremen and other targets, the potential for additional discoveries, expectations regarding the timing and completion of a preliminary economic assessment and advancement toward pre-feasibility studies, timing for receipt of assay results, commencement and continuation of operations, and the potential development of the Odienné Project. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations and assumptions will prove to be correct. Factors that could cause actual results to differ materially from forward-looking information include, but are not limited to, failure to receive TSXV final acceptance for the Offering, the results of exploration and drilling programs, the interpretation of exploration and mineral resource results, changes in mineral resource estimates, the ability to convert inferred mineral resources to indicated mineral resources, the ability to complete future economic studies, fluctuations in commodity prices, changes in the state of equity and debt markets, delays in obtaining required regulatory, governmental, environmental or other project approvals, availability of financing, and the other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis and other continuous disclosure documents filed under the Company's profile at SEDAR+ at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, without limitation, that all necessary governmental and regulatory approvals will be received as and when expected, that financing will be available on reasonable terms, and that exploration, development and study activities will proceed as currently planned. Although the Company believes the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

[1] The full Initial Mineral Resource Estimate news release dated May 19, 2026, including detailed assumptions and methodology, is available at www.awaleresources.com and SEDAR+ www.sedarplus.ca.

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308349

Source: Awale Resources Ltd.

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HomeEarnings AnalysisBasic Materials

SummaryNewmont Corporation remains a buy, trading at under 10x normalized EPS with a compelling valuation despite technical weakness.NEM delivered record free cash flow and strong operational results, but faces headwinds from lower gold prices and a bearish technical setup.Management reaffirmed 2026 targets, projecting $8.5 billion in FCF and robust EPS growth, supported by aggressive share buybacks.Key NEM risks include further declines in precious metals, rising energy costs, and geopolitical tensions impacting operations and costs. showcake/iStock via Getty Images

Newmont Corporation (NEM) reported mixed earnings on Thursday, July 23. Shares rose by the following morning, however, as the volatility in the gold market continues to cause wide swings in the gold mining company’s stock price. Record

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Newmont Corporation (NEM - Free Report) came out with quarterly earnings of $2.1 per share, beating the Zacks Consensus Estimate of $2.05 per share. This compares to earnings of $1.43 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +2.44%. A quarter ago, it was expected that this gold and copper miner would post earnings of $2.07 per share when it actually produced earnings of $2.9, delivering a surprise of +40.1%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Newmont, which belongs to the Zacks Mining - Gold industry, posted revenues of $6.12 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 3.69%. This compares to year-ago revenues of $5.32 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Newmont shares have lost about 4.1% since the beginning of the year versus the S&P 500's gain of 9.6%.

What's Next for Newmont?While Newmont has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Newmont was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.99 on $6.27 billion in revenues for the coming quarter and $8.90 on $26.33 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining - Gold is currently in the bottom 6% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Agnico Eagle Mines (AEM - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on July 29.

This gold mining company is expected to post quarterly earnings of $2.92 per share in its upcoming report, which represents a year-over-year change of +50.5%. The consensus EPS estimate for the quarter has been revised 10% lower over the last 30 days to the current level.

Agnico Eagle Mines' revenues are expected to be $3.94 billion, up 40% from the year-ago quarter.

Newmont (NYSE:NEM – Get Free Report) is anticipated to issue its Q2 2026 results after the market closes on Thursday, July 23rd. Analysts expect the company to post earnings of $2.00 per share and revenue of $6.3365 billion for the quarter. Interested persons are encouraged to explore the company’s upcoming Q2 2026 earning summary page for the latest details on the call scheduled for Thursday, July 23, 2026 at 5:30 PM ET.

Newmont (NYSE:NEM – Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The basic materials company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.83. Newmont had a return on equity of 27.84% and a net margin of 33.87%.The firm had revenue of $7.31 billion for the quarter, compared to analyst estimates of $6.83 billion. During the same period in the prior year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, analysts expect Newmont to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Newmont Stock Down 0.5% NEM opened at $89.24 on Tuesday. The stock has a fifty day moving average of $101.69 and a 200-day moving average of $110.19. The company has a market capitalization of $95.26 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.03 and a beta of 0.46. Newmont has a fifty-two week low of $58.97 and a fifty-two week high of $134.88. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.17 and a current ratio of 2.44.

Newmont Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Wednesday, May 27th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.2%. Newmont’s payout ratio is currently 13.49%.

Key Headlines Impacting Newmont Here are the key news stories impacting Newmont this week:

Positive Sentiment: Several commentary pieces argue Newmont could still be attractive on valuation, suggesting the recent pullback may be creating a potential value opportunity if gold stays firm and earnings hold up. Is Newmont (NYSE:NEM) Still A Compelling Value Stock? Positive Sentiment: Gold’s strength remains a tailwind for Newmont, and one article says the company is facing a “crucial test” as the metal stays strong, which could support revenue and margins if commodity prices remain elevated. Newmont (NYSE:NEM) Faces a Crucial Test As Gold Stays Strong Positive Sentiment: Market chatter ahead of Q2 earnings points to investor interest in key operating metrics, and recent discussion of Newmont as a trading candidate around macro uncertainty suggests the stock could benefit if results exceed expectations. Newmont Stock Suddenly Offers a Double-Sided Debit Trade on U.S.-Iran Tensions and Upcoming Earnings Neutral Sentiment: Multiple previews of Newmont’s upcoming Q2 report focus on Wall Street estimates and key metrics, signaling that the stock may remain range-bound until earnings provide clearer direction. Seeking Clues to Newmont (NEM) Q2 Earnings? A Peek Into Wall Street Projections for Key Metrics Negative Sentiment: Scotiabank reportedly has a negative outlook for Newmont’s FY2027 earnings, reinforcing concerns that profit growth may slow after the current cycle. Scotiabank Has Negative Outlook for Newmont FY2027 Earnings Negative Sentiment: Technical commentary says Newmont shares have fallen to a 2026 low and support is being tested, which points to continued downside pressure unless buyers step in soon. Newmont Shares At 2026 Low, With Support Being Tested Insider Activity In related news, insider David John Thornton sold 2,296 shares of Newmont stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $110.11, for a total value of $252,812.56. Following the transaction, the insider directly owned 23,163 shares of the company’s stock, valued at $2,550,477.93. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $92.38, for a total transaction of $277,140.00. Following the transaction, the executive vice president owned 43,315 shares of the company’s stock, valued at approximately $4,001,439.70. This represents a 6.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,556 shares of company stock valued at $3,058,146 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Newmont A number of large investors have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in shares of Newmont by 82.5% during the fourth quarter. AQR Capital Management LLC now owns 7,402,278 shares of the basic materials company’s stock worth $739,117,000 after purchasing an additional 3,345,543 shares during the last quarter. Boston Partners raised its holdings in Newmont by 49.3% in the 3rd quarter. Boston Partners now owns 6,931,710 shares of the basic materials company’s stock valued at $585,828,000 after buying an additional 2,288,653 shares during the last quarter. Bridgewater Associates LP boosted its position in Newmont by 496.1% during the 4th quarter. Bridgewater Associates LP now owns 2,308,909 shares of the basic materials company’s stock worth $230,545,000 after buying an additional 1,921,592 shares during the period. Ameriprise Financial Inc. boosted its position in Newmont by 142.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,262,258 shares of the basic materials company’s stock worth $189,963,000 after buying an additional 1,914,286 shares during the period. Finally, Morgan Stanley grew its holdings in Newmont by 11.6% during the 4th quarter. Morgan Stanley now owns 12,401,862 shares of the basic materials company’s stock worth $1,238,326,000 after acquiring an additional 1,284,105 shares during the last quarter. Institutional investors and hedge funds own 68.85% of the company’s stock.

Wall Street Analyst Weigh In A number of research analysts have issued reports on the stock. Canadian Imperial Bank of Commerce set a $175.00 target price on shares of Newmont and gave the stock an “outperform” rating in a research report on Monday, June 1st. Zacks Research downgraded shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 14th. Bank of America cut their price target on Newmont from $157.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Citigroup reissued a “positive” rating on shares of Newmont in a research report on Wednesday, July 15th. Finally, Scotiabank lowered their price objective on Newmont from $151.00 to $147.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.26.

Check Out Our Latest Stock Analysis on Newmont

Newmont Company Profile (Get Free Report)

Newmont Corporation (NYSE: NEM) is a leading global gold mining company engaged in the exploration, development, processing and reclamation of gold properties. The company’s core business centers on the production of gold, with additional byproduct metals produced from its operations. Newmont operates a portfolio of long‑lived mines and development projects, and its activities span the full mine life cycle from early-stage exploration through to mining, milling and closure.

Founded in 1921 and headquartered in Greenwood Village, Colorado, Newmont has grown through organic development and strategic acquisitions.

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Key Takeaways Newmont's shares fell 16.4% in three months amid a pullback in gold prices.NEM is advancing key projects, strengthening liquidity and expanding shareholder returns through buybacks.Newmont expects lower 2026 gold output and higher costs, which could weigh on profitability. Newmont Corporation's (NEM - Free Report) shares have lost 16.4% in the past three months, reflecting the sharp decline in gold prices on inflation worries stemming from the Middle East tensions, a stronger U.S. dollar and expectations of higher interest rates.

NEM stock has outperformed the Zacks Mining – Gold industry’s 24.4% fall while underperforming the S&P 500’s 6.6% increase. Among its gold mining peers, Barrick Mining Corporation (B - Free Report) , Agnico Eagle Mines Limited (AEM - Free Report) and Kinross Gold Corporation (KGC - Free Report) have lost 13.9%, 32.8% and 29.4%, respectively, over the same period.

NEM’s 3-month Price Performance  Image Source: Zacks Investment Research

The NEM stock slipped below its 200-day simple moving average (SMA) on June 22, 2026. It is also currently trading below its 50-day SMA. The 50-day SMA is reading lower than the 200-day SMA, following a death crossover on July 9, 2026, signaling a bearish trend.      

NEM Stock Trades Below 50-Day SMA Image Source: Zacks Investment Research

Let’s take a look at NEM’s fundamentals to analyze the stock better.

NEM Poised for Growth on Key Projects & Portfolio ActionsNewmont continues to invest in growth projects in a calculated manner. The company is pursuing several projects, including the Cadia Panel Caves and Tanami Expansion 2 in Australia. These projects should expand Newmont’s production capacity and extend mine life, driving revenues and profits.

In October 2025, NEM achieved a significant milestone at Ahafo North. It achieved commercial production at the project, which followed the first gold pour in September 2025. Ahafo North is expected to produce between 275,000 and 325,000 ounces of gold annually over an estimated mine life of 13 years. Output is expected to be 315,000 ounces this year, with a ramp-up to full capacity.

NEM recently received key regulatory approvals from the Province of British Columbia for its Red Chris Block Cave Project, marking a major milestone in the planned transformation of the Red Chris Mine from an open-pit operation to a large-scale block-cave mine. The approvals move the project closer to a final investment decision, which Newmont expects to make later this year.

Newmont has also divested non-core businesses as it shifts its strategic focus to Tier 1 assets.   The company generated $3.6 billion from its portfolio optimization actions in 2025. These funds will support Newmont’s capital allocation strategy, which focuses on reinforcing its balance sheet and delivering returns to its shareholders.

NEM’s Capital Allocation Backed by Solid Financial HealthNewmont has a strong liquidity position and generates substantial cash flows, which allow it to fund its growth projects, meet short-term debt obligations and drive shareholder value. At the end of the first quarter of 2026, Newmont had robust liquidity of roughly $12.8 billion, including cash and cash equivalents of around $8.8 billion. Its free cash flow surged 161% year over year to a record $3.1 billion in the first quarter, led by an increase in net cash from operating activities. Net cash from operating activities amounted to $3.8 billion in the first quarter, up from $2 billion in the year-ago quarter.

  Newmont stands to benefit from still-elevated gold prices, which should drive its profitability and cash flow generation. While gold prices have experienced a significant downward correction after reaching peak levels in January 2026, they remain at supportive levels. Heightened geopolitical tensions, a weaker U.S. dollar, tariff-related worries and concerns surrounding the Federal Reserve’s independence had driven bullion to a record high of nearly $5,600 per ounce in late January. Since then, gold has pulled back sharply due to inflation concerns triggered by a surge in crude oil prices amid Middle East tensions, with prices falling to $4,500 per ounce around the end of May.

Bullion continued to retreat in June, with prices slipping below $4,000 per ounce to a near eight-month low amid rate-hike expectations and a stronger greenback, despite reduced inflation concerns following the interim agreement between the United States and Iran. Meanwhile, the Fed held interest rates steady in the latest policy meeting, but signaled a potential rate increase before the year's end. Aggressive profit-booking also contributed to the slump in gold prices.

Gold prices recouped some losses last week to climb above $4,100 per ounce, but again eased toward $4,000 per ounce lately as an uptick in oil prices outweighed soft U.S. inflation data. Bullion is up roughly 21% year over year.

NEM has distributed $3.4 billion to its shareholders through dividends and share repurchases in 2025. It has returned $2.7 billion to its shareholders since Feb. 19, 2026. Newmont has executed buybacks of $6 billion under the earlier authorized share repurchase programs, including $2.4 billion since the fourth-quarter 2025 earnings call. Its board has approved an additional $6 billion repurchase program. NEM offers a dividend yield of 1.1% at the current stock price. Its payout ratio is 12%.

Newmont also remains committed to deleveraging, reducing debt by roughly $3.4 billion in 2025. It reduced debt by an additional $42 million in the first quarter, resulting in a strong net cash position of $3.2 billion.

Weaker Production, Higher Costs Cloud NEM’s ProspectsNEM saw lower gold production for the first quarter, partly linked to its strategic divestment of non-core assets. NEM reported a roughly 16% year-over-year and 10% sequential decline in attributable gold production to 1.3 million ounces. Newmont expects second-quarter 2026 production to be below the first-quarter level.

The company anticipates gold production at about 5.26 million ounces for 2026, indicating a year-over-year decline from 5.89 million ounces in 2025. NEM expects lower production from Penasquito and Cadia in 2026 due to the site transitions. It also sees lower-than-expected production from Nevada Gold Mines and Pueblo Viejo. These will be partly offset by contributions from the newly commissioned Ahafo North mine.

Lower production is expected to lead to higher unit costs in 2026. NEM expects all-in-sustaining costs (AISC) — a critical cost metric for miners — to be $1,680 per ounce on a by-product basis, a notable increase from $1,358 per ounce in 2025. The expected increase is due to lower sales volumes as a result of planned mine sequencing, higher royalties and production taxes, deferral of sustaining capital from 2025 into 2026 and inventory changes. Newmont also sees a significant sequential increase in unit costs in the second quarter, partly due to increased sustaining capital spending, higher costs associated with sales at Boddington, Tanami, Lihir and Penasquito and increased oil prices. The production decline and higher costs could undercut the profitability goals.

NEM’s Earnings Estimates Moving LowerNewmont’s earnings estimates for 2026 have been going down over the past 60 days. The Zacks Consensus Estimate for second-quarter 2026 has also been revised lower over the same time frame.

The Zacks Consensus Estimate for 2026 earnings is currently pegged at $9.32, suggesting year-over-year growth of 35.3%. Earnings are expected to grow roughly 52.5% in the second quarter.

Image Source: Zacks Investment Research

A Look at Newmont Stock’s ValuationNewmont is currently trading at a forward price/earnings of 9.6X, a 4.9% premium to the industry average of 9.15X. NEM is trading at a premium to Barrick and Kinross Gold and at a discount to Agnico Eagle. Newmont and Kinross Gold currently have a Value Score of B each. Barrick and Agnico Eagle have a Value Score of A and C, respectively.

NEM’s P/E F12M Vs. Industry, B, AEM and KGC Image Source: Zacks Investment Research

Conclusion: Hold Onto NEM SharesNewmont is well-positioned for growth, backed by strong operating performance and a robust project pipeline that is expected to expand production capacity, extend mine life and support revenue and earnings growth. The company’s asset optimization, which prioritizes investment in high-return, long-life assets, further enhances its long-term prospects.

Despite the significant downswing in bullion prices, higher year-over-year realized prices should continue to boost NEM’s profitability and drive cash flow generation. However, lower production stemming from divestitures and lower ore grades, along with elevated costs, could pressure overall performance. Investors who already own this Zacks Rank #3 (Hold) stock may consider continuing to hold their positions.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Newmont's $12.8B liquidity supports growth projects, debt reduction and shareholder returns.NEM is advancing Cadia Panel Caves and Tanami Expansion 2 to boost production.Newmont cut debt and maintained a net cash position of $3.2 billion at the end of the first quarter. Newmont Corporation (NEM - Free Report) has a strong liquidity position and generates substantial cash flows, which allow it to fund its growth projects and drive shareholder value. At the end of the first quarter of 2026, Newmont had robust liquidity of roughly $12.8 billion, including cash and cash equivalents of around $8.8 billion.

NEM’s strong liquidity profile and substantial cash flows provide it with ample flexibility to fund expansion projects, reduce debt and enhance returns. The company remains focused on investing in its organic growth initiatives, leveraging a strong balance sheet. It is pursuing several projects, including the Cadia Panel Caves and Tanami Expansion 2 in Australia. These projects should expand Newmont’s production capacity and extend mine life, driving revenues and profits.

Newmont also remains committed to deleveraging, having reduced debt by roughly $3.4 billion in 2025. It reduced debt by an additional $42 million in the first quarter of 2026, resulting in a strong net cash position of $3.2 billion.

The company generated $3.6 billion from its portfolio optimization actions in 2025. These funds will support Newmont’s capital allocation strategy, which focuses on reinforcing its balance sheet and delivering returns to its shareholders.

Looking across the competitive landscape, Kinross Gold Corporation (KGC - Free Report) had strong liquidity of $3.9 billion at the end of the first quarter. KGC’s cash and cash equivalents were around $2.19 billion at the end of the quarter, increasing from $1.74 billion at the end of the prior quarter. With $1.7 billion in available credit (as of March 31, 2026) and no debt maturities until 2033, Kinross is well-positioned to support growth while strengthening its balance sheet and delivering shareholder value.

Agnico Eagle Mines Limited (AEM - Free Report) has a robust liquidity position and generates healthy cash flows, enabling it to maintain a strong exploration budget and finance a robust pipeline of growth projects. AEM ended the first quarter with cash and cash equivalents of roughly $3.1 billion. Agnico Eagle had a significant net cash position of roughly $2.9 billion at the end of the quarter, driven by an increase in cash.

The Zacks Rundown for NEMShares of Newmont have shot up 60.7% in the past year against the Zacks Mining – Gold industry’s rise of 43.2%.

Image Source: Zacks Investment Research

From a valuation standpoint, NEM is currently trading at a forward 12-month earnings multiple of 9.35, a modest 2.2% premium to the industry average of 9.15X. It carries a Value Score of B.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for NEM’s 2026 and 2027 earnings implies a year-over-year rise of 43.8% and 8.7%, respectively. The EPS estimates for 2026 and 2027 have been trending higher over the past 60 days.

Image Source: Zacks Investment Research