Latest revenue
$7.31B
as of 2026-03-31
Latest net income
$3.26B
as of 2026-03-31
Net margin
44.6%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $114.91B
- Enterprise value
- $111.22B
- P/E (trailing)
- 16.2×
- Forward P/E
- —
- P/B
- 3.29×
- Dividend yield
- 0.9%
- 52-wk high
- $134.88
- 52-wk low
- $51.80
- Beta
- —
- Shares out
- 1.07B
5-year trend
What this company does
Newmont mines and sells gold, with smaller output of copper, silver, zinc, and lead from operations across the Americas, Africa, Australia, and Papua New Guinea. Bullion sales drive revenue, which jumped to $7.3 billion for the quarter as higher gold prices boosted margins and net income to $3.3 billion. Following 2025 divestitures of CC&V, Musselwhite, Éléonore, Porcupine, and Akyem, the company is running a leaner, tier-one portfolio while returning cash aggressively, including $1.9 billion of buybacks in the quarter.
Key risks
- Gold price exposure: Q1 2026 sales surged 46% to $7.3B versus $5.0B prior year, leaving earnings highly sensitive to bullion price reversals.
- Reclamation obligations of $6.17B and $209M cash outflow this quarter create persistent long-tail liability tied to closed/divested mines.
- Capital return pace: $1.9B Q1 buybacks plus $556M post-quarter and $282M dividends are draining cash faster than $3.8B operating inflow sustainably supports if gold falls.
Profitability
Net margin
31.3%
74.4%Return on equity
20.9%
87.0%Return on assets
12.4%
108.8%Leverage
Debt / equity
0.69×
22.2%Long-term debt / equity
0.15×
40.1%Debt / assets
40.7%
13.2%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $7.31B | +45.8% | $3.26B | +72.5% | 44.6% |
Q4 2025 2025-12-31 | $6.82B | +20.6% | $1.30B | -7.3% | 19.1% |
Q3 2025 2025-09-30 | $5.52B | +20.0% | $1.83B | +98.7% | 33.2% |
Q2 2025 2025-06-30 | $5.32B | +20.8% | $2.06B | +141.6% | 38.8% |
Q1 2025 2025-03-31 | $5.01B | +24.5% | $1.89B | +1012.4% | 37.7% |
Q4 2024 2024-12-31 | $5.65B | — | $1.40B | — | 24.8% |
Q3 2024 2024-09-30 | $4.61B | +84.7% | $922.0M | +483.5% | 20.0% |
Q2 2024 2024-06-30 | $4.40B | +64.1% | $853.0M | +450.3% | 19.4% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Gold and Silver Ores · SIC 1040
Your notes
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Insider activity
Insider buying
$0
Insider selling
$10.0M
Net activity
−$10.0M
Distinct insiders
8
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns NEM
Institutional value
$31.14B
Total shares held
296.3M
Distinct holders
734
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 70.7M | $7.66B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 37.8M | $4.09B | — | New |
| 3 | Invesco Ltd. | 14.6M | $1.58B | — | New |
| 4 | Bank of New York Mellon Corp | 12.2M | $1.32B | — | New |
| 5 | First Eagle Investment Management, LLC | 12.0M | $1.30B | — | New |
| 6 | DIMENSIONAL FUND ADVISORS LP | 9.4M | $1.01B | — | New |
| 7 | DEUTSCHE BANK AG\ | 9.2M | $992.4M | — | New |
| 8 | Legal & General Group Plc | 8.4M | $909.1M | — | New |
| 9 | VANGUARD FIDUCIARY TRUST CO | 6.1M | $664.7M | — | New |
| 10 | Boston Partners | 5.3M | $571.3M | — | New |
| 11 | HSBC HOLDINGS PLC | 4.1M | $443.3M | — | New |
| 12 | Nuveen, LLC | 3.9M | $424.7M | — | New |
| 13 | UBS Group AG | 3.8M | $409.4M | — | New |
| 14 | National Pension Service | 3.5M | $376.1M | — | New |
| 15 | Swiss National Bank | 3.2M | $346.7M | — | New |
| 16 | ASSETMARK, INC | 3.0M | $329.6M | — | New |
| 17 | Allianz Asset Management GmbH | 2.9M | $313.4M | — | New |
| 18 | Sumitomo Mitsui Trust Group, Inc. | 2.8M | $303.4M | — | New |
| 19 | Mitsubishi UFJ Asset Management Co., Ltd. | 2.5M | $267.8M | — | New |
| 20 | Vanguard Global Advisers, LLC | 2.4M | $263.2M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Sales jumped 46% to $7.3B while CAS fell to $1.94B—how much is sustainable price realization versus one-time gold price tailwind unlikely to repeat?
- 2
You repurchased $1.9B in Q1 plus $556M post-quarter at peak gold prices—why is buying back stock now better than counter-cyclical M&A or debt reduction?
- 3
Cash taxes paid tripled to $1.27B and the effective rate hit 31%—what's the run-rate jurisdictional mix and exposure to mining tax reform?