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Highlights:

  • Newmont Corp reports Q2 net income of AUD 2.1 billion, up 142% YoY
  • NEM Declares 25 US cents dividend, announces AUD 3 billion share repurchase plan
  • Newmont produced 1.5Moz of gold in Q2, maintains full-year production guidance

Newmont Corporation (ASX:NEM), a gold mining company by production and reserves, saw its shares advance on the ASX on Friday following the release of its financial results for the second quarter of 2025. Shares in Newmont opened higher, rising as much as 4.5% in morning trade to AUD 96.01, up from the previous day’s closing price of AUD 91.88. This brings the year-to-date gain in Newmont’s ASX-listed shares to approximately 59.4%, giving the company a market capitalisation of around AUD 106.6 billion. The stock first listed on the ASX in October 2023, after Newmont completed its acquisition of Australian gold miner Newcrest Mining earlier that year. The rally follows the release of second-quarter results that showed significant increases in income and cash generation, alongside confirmation of capital returns through dividends and share buybacks.

In the three months ended 30 June 2025, Newmont generated record quarterly free cash flow of USD 1.7 billion, an increase of 188% compared to the same period last year. Reported net income came in at USD 2.1 billion, up 142% year on year. Adjusted net income stood at USD 1.6 billion, or USD 1.43 per diluted share, reflecting a 92% increase. The company also reported quarterly adjusted EBITDA of USD 3.0 billion, a 50% year-on-year rise. During the quarter, Newmont produced 1.5 million ounces of gold and 36,000 tonnes of copper. The company realised an average gold price of USD 3,320 per ounce, an increase of USD 376 per ounce from the previous quarter. The all-in sustaining cost (AISC) for gold production fell by 4% from Q1FY25 to USD 1,593 per ounce.

Management stated that the results were aligned with expectations and confirmed that Newmont remains on track to meet its full-year production and cost guidance. Newmont also disclosed it expects to receive more than USD 3.0 billion in after-tax cash proceeds from its ongoing divestiture program this year. This includes approximately USD 2.5 billion from asset divestitures and around USD 470 million from the sale of equity interests in Greatland Resources and Discovery Silver.

In addition to the previously communicated dividend policy, the company announced a new USD 3.0 billion share repurchase program. The Q2 dividend has been set at USD 0.25 per share. Shares will trade ex-dividend on 3 September 2025, with payment scheduled for 29 September. As of the end of the quarter, Newmont held USD 6.2 billion in cash and USD 10.2 billion in total available liquidity.

Chief Executive Officer Tom Palmer attributed the quarterly performance to consistent operational delivery and portfolio optimisation. He reiterated the company’s full-year outlook and emphasised ongoing priorities, including operational stability and shareholder returns.  Newmont's inclusion in the S&P/ASX 200 Index followed the completion of the Newcrest transaction and reflects its increased relevance to Australian institutional investors.