New York, Feb 23, 2026, 19:14 EST — After-hours
- Newmont shares moved up 1.8% after hours, following gains in bullion.
- Gold surged past $5,200 an ounce, with renewed tariff jitters sending investors back toward safe-haven assets.
- Attention now turns to miners’ ability to protect margins, with both costs and capex on the rise.
Newmont Corporation (NYSE: NEM) climbed $2.15, up 1.8%, to $124.25 in postmarket action Monday, as gold’s surge brought the sector back into focus.
Timing’s in focus. Investors are turning to gold as a shield from trade-policy risk, with Newmont serving as a liquid stand-in for that bet. Swings in bullion prices often hit mining stocks directly, particularly when there’s little news specific to the company.
Still, the stock doesn’t give straightforward leverage. When costs climb, mines fall short, or spending jumps, miners can trail behind the metal. Newmont itself is bracing for a year shaped by more capital-intensive projects and a production dip versus last year.
Spot gold rallied 2% to $5,206.39 an ounce as of 1:33 p.m. ET, hitting levels last seen on Jan. 30, according to Reuters. Jeffrey Christian, managing partner at CPM Group, noted, “our expectation is that gold prices could rise sharply this week once activity picks up,” pointing to China’s mainland markets reopening Tuesday after the Lunar New Year. Investors are also keeping an eye on commentary from a lineup of Federal Reserve speakers. (Reuters)
Newmont rolled out a 2026 outlook last week, flagging lower production in the short run but ramped-up spending aimed at keeping mines running longer. The company put its 2026 attributable gold output estimate at roughly 5.3 million ounces, with gold by-product AISC pegged at $1,680 per ounce—a metric that folds in sustaining capex and overhead. Planned spending: about $1.95 billion for sustaining capital, plus $1.4 billion earmarked for development. Newmont also set its quarterly dividend at $0.26, payable March 26 to shareholders of record as of March 3. (Newmont Corporation)
Management keeps hammering home the need for solid execution—particularly when it comes to joint ventures and major assets, where timing and output can really affect the bottom line. “The focus on operational improvement is high on our agenda,” CEO Natascha Viljoen told Reuters, speaking specifically about Nevada Gold Mines. (Reuters)
Peers tracked the broader tape. Agnico Eagle Mines climbed roughly 5.4% on the day—a fast re-rating that shows just how sharply gold-linked names can move when bullion surges.
The other side of the coin: should tariff tensions fade and both the dollar and yields strengthen, gold could give up ground quickly. Miners would then be vulnerable—especially operators facing heavier sustaining costs, tax outlays, and project expenses.
For Newmont, focus shifts away from any isolated company trigger—attention sits squarely on gold’s ability to stay north of $5,000 and on the tone of risk appetite. Traders are watching China’s reopening on Tuesday, scanning for demand cues. Looking ahead, Newmont’s March 3 dividend record date lands as the next notable company event.
