Key Highlights

● Newmont posted $1.9 billion in third-quarter free cash flow after the close on October 22.

● Adjusted earnings of $2.20 a share beat the $1.96 consensus.

● The 2026 all-in sustaining cost guidance improved to $1,520 an ounce.

● Gold fell to its lowest in more than two months.

Newmont (NYSE:NEM) was in focus on Thursday, October 22, 2026, after the world's largest gold miner posted $1.9 billion in free cash flow for the third quarter. The results came after the 4pm ET close, at the end of a session in which gold prices slumped and gold-mining stocks fell. Newmont's after-hours share move was not available.

Newmont is a member of the S&P 500 and mines gold, along with copper and other metals, at operations around the world.

The results

Newmont reported adjusted earnings of $2.20 a share, above the consensus estimate of $1.96. Sales were $6.36 billion. The company also improved its 2026 all-in sustaining cost guidance to $1,520 an ounce, a key measure of what it costs to mine gold.

"We produced approximately 1.3 million attributable gold ounces, and generated $1.9 billion of free cash flow," Chief Executive Natascha Viljoen said.

Gold slumped

The report arrived on a weak day for gold. December gold futures fell to about $4,060.40, down $89.60, while another source put the price at $4,038.80. Either way, gold fell to its lowest in more than two months, and it was the lowest close since July. Silver fell $2.70 to $55.01, and copper had its lowest close since July, according to market data.

Gold miners fell during the session. The VanEck Gold Miners ETF dropped sharply at midday. Newmont's own regular-session move was not reported. The weakness in miners stood out on a day when the S&P 500 posted 40 new 52-week highs against four new lows, according to market data.

The selloff in precious metals came as Treasury yields fell back below a closely watched threshold for the first time since September 22. Bitcoin also fell, slipping to about $81,200 to $81,300.

The wider market

The S&P 500 fell 93.74 points to 7,663.43, its worst day since July, as AI and chip stocks sold off after heavy spending plans from Meta Platforms (NASDAQ:META) and a supply warning from Lam Research (NASDAQ:LRCX). The Nasdaq Composite dropped 694.00 points to 26,008.86. The Dow Jones Industrial Average edged up 11.89 points to 52,867.98.

About two of every three S&P 500 stocks rose, according to market reports. Consumer staples had their best day since April 2025 and hit a record. Health care also set a record, and homebuilders rallied on lower yields.

Oil rose even as gold fell. Brent crude settled at $113.17, its highest since May 4, after Houthi attacks in Saudi Arabia and a media report on plans for renewed strikes on Iran after the November 3 midterms.

Newmont Weighs Cash Flow Against Weaker Gold

Friday's regular session will give the first full read on how investors weigh Newmont's cash flow and improved cost outlook against weaker gold prices, and whether management offers more detail on how it plans to reach its lower 2026 cost target.

Gold's direction remains the main driver for miners. Traders will watch whether the metal steadies after hitting its lowest level in more than two months, and how it responds to Middle East tensions.

The Federal Reserve announces its rate decision on October 28 after a two-day meeting. Interest-rate expectations often affect gold, which pays no interest. Markets were pricing about one rate hike before year-end. Third-quarter GDP and September PCE inflation data follow on October 29.