Key highlights

  • Evolution Mining (ASX:EVN) reported record FY26 underlying net profit of $1,563 million and a 41.0 cent full-year dividend.
  • Northern Star Resources (ASX:NST) reported underlying NPAT of A$1.8 billion and a 55 cent FY26 dividend.
  • Newmont (ASX:NEM) reported Q2 2026 adjusted EBITDA of US$3.8 billion and record second-quarter free Cash Flow of US$2.2 billion.

Gold producers reported high cash generation in 2026, reflecting the gold price and the production and costs of their mines. This article looks at the latest results from three ASX-listed gold producers: Evolution Mining Limited (ASX:EVN) and Northern Star Resources Ltd (ASX:NST), which reported results for the year ended 30 June 2026, and Newmont Corporation (ASX:NEM), which reported second quarter 2026 results on 23 July 2026.

Sector context

Gold producers are sensitive to the gold price, production, all-in sustaining costs, Capital spending on expansions and, for companies reporting in Australian dollars, currency. The releases highlight record margins and capital returns alongside large capital projects.

Evolution Mining Limited (ASX:EVN)

Evolution’s FY26 results, announced on 19 August 2026, reported record statutory net profit of $1,475 million, up 59%, and record underlying net profit of $1,563 million, up 63%. Underlying EBITDA was $3,171 million, up 44%, at a 57% margin, and Group cash flow was a record $1,389 million, up 76%. Earnings Per Share were 73 cents. The company reported a net cash position, with $1,347 million of cash and $1,329 million of Debt and no repayments due until FY29.

The final Dividend was a record 21.0 cents per share, fully franked, taking the FY26 dividend to 41.0 cents, about $833 million. The dividend policy was improved to about 60% of Group cash flow from about 50%. FY27 guidance is for gold production of 660,000–730,000 oz, copper production of 63,000–70,000 t and AISC of $1,795–1,995 per ounce.

Northern Star Resources Ltd (ASX:NST)

Northern Star’s financial results for the year ended 30 June 2026 showed reported NPAT of A$1.7 billion (EPS A$1.17), up 24%, and underlying NPAT of A$1.8 billion (EPS A$1.24), up 26%. Underlying EBITDA was A$4.3 billion, underlying free cash flow was A$190 million, and cash and bullion were A$1.2 billion. Underlying return on capital employed was 13.4%.

The FY26 dividend was 55 cents per share, fully franked, including a 30 cent final, and a A$500 million on-market buy-back began in April, with A$129 million completed. FY27 outlook is for gold production of 1,500–1,650 koz at AISC of A$3,050–3,450 per ounce, including KCGM production of 550–650 koz as the mill expansion is commissioned, and Capital Investment of A$2,550–2,935 million.

Newmont Corporation (ASX:NEM)

Newmont’s release of 23 July 2026 covers its second quarter ended 30 June 2026, rather than a full year. It reported Net Income of US$2.2 billion, adjusted net income of US$2.2 billion (US$2.10 per diluted share), adjusted EBITDA of US$3.8 billion and record second-quarter free cash flow of US$2.2 billion. It produced 1.3 million attributable gold ounces and said it was on track to meet full-year 2026 guidance of 5.3 million attributable gold ounces.

Newmont declared a dividend of US$0.26 per share for the quarter and reported US$1.9 billion of Shareholder returns through repurchases and dividends since its last earnings call, including US$1.7 billion of repurchases. It ended the quarter with US$9.0 billion of cash, US$13.0 billion of total Liquidity and a net cash position of US$3.4 billion.

Putting the three gold results in context

The three releases describe gold producers returning capital while investing in expansions such as the KCGM mill, with higher dividends or buy-backs reported by each company. Newmont’s figures are quarterly and in US dollars, so they are not directly comparable with the annual figures from Evolution and Northern Star.