Gold mining giant Newmont (ASX:NEM) has delivered a sound fiscal year 2025, reporting a 112% surge in net income to $7.09 billion.
Despite a 14% dip in annual production, the company capitalised on a historic bull market as average realised gold prices jumped 45% to reach $3,498 per ounce.
The Denver-based miner beat Wall Street expectations for the fourth quarter, posting an adjusted net income of $2.52 per share against analyst forecasts of $2.
While quarterly net income dipped slightly to $1.3 billion, the company's full-year performance was bolstered by a record-breaking $7.3 billion in free cash flow.
The financial windfall allowed Newmont to return $3.4 billion to shareholders and slash its debt by an equivalent amount.
President and CEO Natascha Viljoen described 2025 as a "milestone year," noting that disciplined operational execution and portfolio optimisation generated $3.6 billion.
While the company met its 2025 guidance with 5.89 million ounces of gold, it also produced 28 million ounces of silver and 135,000 tonnes of copper.
Looking ahead to 2026, Newmont has issued a conservative production guidance of 5.3 million ounces at an adjusted cost of $1,680 per ounce.
Despite the lower volume forecasts, the company’s shift to a strong net cash position and a newly declared Q4 dividend of $0.26 per share signal continued confidence in its high-margin Tier 1 assets.