Newmont (ASX:NEM) has kicked off 2026 by shattering financial records, reporting an all-time high quarterly free cash flow of US$3.1 billion.
The gold mining giant's first-quarter results underscore a period of profitability driven by a surge in realised gold prices, which averaged US$4,900 per ounce—a significant jump from previous periods.
The company reported a net income of US$3.3 billion for the quarter, bolstered by the production of 1.3 million attributable gold ounces.
Despite operational hurdles, including bushfires at Boddington and record rainfall at the Tanami site in Australia, Newmont remains on track to meet its full-year production guidance of 5.3 million ounces.
Cost discipline remained a key theme, with gold by-product all-in sustaining costs dropping to US$1,029 per ounce, benefiting from strong silver and copper sales.
Newmont’s board of directors authorised an additional US$6 billion share repurchase programme.
This follows the rapid exhaustion of a previous US$6 billion authorisation, of which $2.4 billion was executed just since the last earnings call.
"Newmont delivered strong operational and financial performance keeping us well on track to achieve our 2026 guidance," said President and CEO Natascha Viljoen.
Alongside the buybacks, the company declared a US$0.26 per share dividend, maintaining its commitment to returning substantial capital to shareholders.