New York, Feb 20, 2026, 05:15 EST — Premarket
- Newmont shares up about 0.6% in premarket trade
- Q4 adjusted profit beat expectations as higher gold prices offset lower output
- Investors weigh 2026 production dip, cost outlook and a larger cash-return plan
Newmont Corp shares rose 0.6% to $125.40 in U.S. premarket trading on Friday, extending a late-session bounce after the gold miner’s quarterly results and new 2026 targets.
The update matters because Newmont sits at the center of the gold trade. With bullion near recent highs but prone to sharp swings, investors have been pressing miners to prove they can turn price strength into repeatable cash — dividends, buybacks, debt paydown — not just louder growth plans.
Gold prices were higher early on Friday, but still headed for a small weekly decline as the dollar firmed and markets waited on U.S. inflation data. “Precious metals are still very much in the minds of a lot of investors,” said Brian Lan, managing director at GoldSilver Central, pointing to dip-buying and steady central bank interest. (Reuters)
Newmont late Thursday beat Wall Street estimates for fourth-quarter profit as higher realized gold prices helped offset lower output, and it forecast 2026 gold production of 5.3 million ounces. The company said it would spend $1.4 billion to advance projects including Cadia Panel Caves, Tanami Expansion 2 and a feasibility study at Red Chris, and flagged about $1.95 billion of sustaining capital for mine-life work. CEO Natascha Viljoen said “the focus on operational improvement is high on our agenda” at Nevada Gold Mines, in response to a Reuters query. (Reuters)
In its results statement, Newmont also laid out a tighter capital-returns framework built around a higher quarterly dividend and ongoing repurchases. Viljoen called 2025 “a milestone year,” citing record $7.3 billion in free cash flow, $3.4 billion returned to shareholders and $3.4 billion of debt reduction, with the company finishing the year in a net cash position. Newmont declared a quarterly dividend of $0.26 per share, payable on March 26 to shareholders of record on March 3, and guided to gold all-in sustaining costs of $1,680 an ounce for 2026. (Newmont Corporation)
But the 2026 setup is not clean. Lower production and higher costs leave less room for error if gold prices cool or if inflation pushes up labor, fuel and contractor bills. All-in sustaining costs, or AISC, is a key industry yardstick that includes operating costs plus sustaining capital needed to keep mines running.
Gold equities were mixed early, tracking bullion’s push-pull with the dollar. The VanEck Gold Miners ETF was up about 1.6% in premarket trading, while the SPDR Gold Shares ETF was little changed.
The immediate question for Newmont is whether cash returns can stay sticky through what management itself frames as a lower-output year, while it funds a heavier slate of tailings and development work. Project execution at Cadia and Tanami, and any sign that operational fixes are taking hold in Nevada, will be closely watched.
For the next session, traders are likely to keep one eye on Friday’s U.S. inflation print and the dollar’s direction — the fast-moving inputs that have been yanking gold around. For Newmont holders, the next company marker is the March 3 record date for the $0.26 dividend.
