Equity Profile

NEM

Newmont Corporation

MaterialsGold$99.0B

Jul23Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Newmont Corporation (NEM) is a leading gold mining company, focusing on the exploration, mining, and production of gold. As a major player in the materials sector, its performance is closely tied to gold prices and global economic conditions, making it an important barometer for the mining industry.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well Newmont managed costs and revenues in a fluctuating gold market.

N/A

Gold Production Volume

This metric reflects the company's operational efficiency and ability to meet market demand, crucial for revenue generation.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

NEM Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+33.89%

Avg Stock Reaction

+0.10%

Last Quarter Recap

In Q1 2026, Newmont reported an EPS of $2.90, significantly beating estimates by 40.37%. However, the stock experienced a slight decline of 0.71% the following day, indicating mixed market reactions.

Management Promises & Guidance

Focus on cost management to improve margins.
Commitment to maintaining production levels amid market fluctuations.
Plans to explore new mining opportunities to boost future growth.

Expectations

Wall Street Expectations

Overall expectations for Newmont's upcoming earnings are cautious, given the fluctuations in gold prices and production costs. Investors are keen to see if the company can maintain its strong EPS performance.

Bull Case

If Newmont continues to beat EPS estimates and shows strong production figures, it could signal robust operational efficiency and a favorable market outlook, potentially driving the stock higher.

Bear Case

Conversely, if production costs rise significantly or gold prices decline, it could lead to disappointing earnings and a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported gold production volume for Q2 2026?

This figure will be crucial in determining whether Newmont can sustain its revenue and profitability amid fluctuating gold prices.

How has the cost of production changed compared to previous quarters?

Understanding cost dynamics will help investors gauge the company's profitability and operational efficiency in a challenging market.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of rising gold prices on Newmont's profitability, as recent trends suggest a stronger demand for gold than anticipated.

Supporting Evidence

Newmont's recent EPS surprises indicate strong operational performance that may not be fully reflected in current estimates.

The current options pricing suggests a significant move, indicating that investors are preparing for potential volatility.

Historical trends show that Newmont has consistently exceeded EPS estimates, which could repeat this quarter.

Key Risk

If production costs come in lower than expected, it could significantly enhance profitability, contradicting current cautious sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on production efficiency and cost management, critical factors in the current gold market.

Bull Confirmed If

Gold production volume exceeding 1.5 million ounces would suggest strong operational performance.

Bear Confirmed If

An increase in the cost of production above $1,200 per ounce could signal potential profitability issues.

Pre-Earnings Positioning

Options Market

Implied Move

±10.44%

Historical Avg

±1.3%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±10.4% while NEM has averaged ±1.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

53.6%

Calls (558K)P/C Ratio: 0.26Puts (532K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Newmont beats expectations, history suggests the stock could rise by around 0.35%, confirming a positive operational outlook.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may see muted movement as investors reassess future growth.

Miss

Should the company miss expectations, history suggests a potential decline of around 1.60%, indicating market disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on gold production volume and efficiency improvements.
2Management's insights on cost management strategies and their effectiveness.
3Comments on market demand for gold and pricing trends.
4Future exploration plans and their potential impact on growth.
5Guidance on expected production and cost trends for the upcoming quarters.

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Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well Newmont managed costs and revenues in a fluctuating gold market.

N/A

Gold Production Volume

This metric reflects the company's operational efficiency and ability to meet market demand, crucial for revenue generation.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

NEM Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+33.89%

Avg Stock Reaction

+0.10%

Last Quarter Recap

In Q1 2026, Newmont reported an EPS of $2.90, significantly beating estimates by 40.37%. However, the stock experienced a slight decline of 0.71% the following day, indicating mixed market reactions.

Management Promises & Guidance

Focus on cost management to improve margins.
Commitment to maintaining production levels amid market fluctuations.
Plans to explore new mining opportunities to boost future growth.

Expectations

Wall Street Expectations

Bull Case

If Newmont continues to beat EPS estimates and shows strong production figures, it could signal robust operational efficiency and a favorable market outlook, potentially driving the stock higher.

Bear Case

Conversely, if production costs rise significantly or gold prices decline, it could lead to disappointing earnings and a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported gold production volume for Q2 2026?

This figure will be crucial in determining whether Newmont can sustain its revenue and profitability amid fluctuating gold prices.

How has the cost of production changed compared to previous quarters?

Understanding cost dynamics will help investors gauge the company's profitability and operational efficiency in a challenging market.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of rising gold prices on Newmont's profitability, as recent trends suggest a stronger demand for gold than anticipated.

Supporting Evidence

Newmont's recent EPS surprises indicate strong operational performance that may not be fully reflected in current estimates.

The current options pricing suggests a significant move, indicating that investors are preparing for potential volatility.

Historical trends show that Newmont has consistently exceeded EPS estimates, which could repeat this quarter.

Key Risk

If production costs come in lower than expected, it could significantly enhance profitability, contradicting current cautious sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on production efficiency and cost management, critical factors in the current gold market.

Bull Confirmed If

Gold production volume exceeding 1.5 million ounces would suggest strong operational performance.

Bear Confirmed If

An increase in the cost of production above $1,200 per ounce could signal potential profitability issues.

Pre-Earnings Positioning

Options Market

Implied Move

±10.44%

Historical Avg

±1.3%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±10.4% while NEM has averaged ±1.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

53.6%

Calls (558K)P/C Ratio: 0.26Puts (532K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Newmont beats expectations, history suggests the stock could rise by around 0.35%, confirming a positive operational outlook.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may see muted movement as investors reassess future growth.

Miss

Should the company miss expectations, history suggests a potential decline of around 1.60%, indicating market disappointment.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on gold production volume and efficiency improvements.
2Management's insights on cost management strategies and their effectiveness.
3Comments on market demand for gold and pricing trends.
4Future exploration plans and their potential impact on growth.
5Guidance on expected production and cost trends for the upcoming quarters.