Equity Profile

NEM

Newmont Corporation

MaterialsGold$99.0B

Jul23Thu

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Newmont Corporation (NEM) is a leading gold mining company that operates globally, focusing on the exploration, mining, and production of gold. As a major player in the materials sector, its performance is closely tied to gold prices and overall economic conditions, making it a key indicator for investors interested in commodities and precious metals.

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a crucial measure of profitability and will indicate how well Newmont is managing its costs and revenues.

Not available

Gold Production Volume

This metric will show how effectively Newmont is operating its mines and meeting demand in the gold market.

Not available

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

NEM Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+33.89%

Avg Stock Reaction

+0.10%

Last Quarter Recap

In Q1 2026, Newmont reported an EPS of $2.90, significantly beating estimates by 40.37%. However, the stock experienced a slight decline of 0.71% the following day, indicating mixed investor sentiment despite the strong earnings.

Management Promises & Guidance

Focus on cost management to improve margins.
Commitment to sustainable mining practices.
Plans to enhance exploration efforts to boost future gold reserves.

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about Newmont's upcoming earnings, especially given its strong performance in previous quarters. However, there are concerns about rising production costs and potential volatility in gold prices.

Bull Case

If Newmont continues its trend of beating EPS estimates, it could signal strong operational efficiency and robust demand for gold, leading to a positive stock reaction.

Bear Case

Conversely, if production costs rise significantly or gold prices decline, it could result in disappointing earnings and a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported gold production volume for Q2 2026?

Production volume is critical for assessing operational efficiency and future revenue potential, especially in a fluctuating gold market.

How has the cost of goods sold (COGS) changed compared to previous quarters?

Changes in COGS will directly impact profitability and could influence investor sentiment regarding Newmont's cost management strategies.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the impact of Newmont's cost management initiatives, which could lead to better-than-expected margins despite rising gold prices.

Supporting Evidence

Newmont has consistently beaten EPS estimates, indicating strong operational control.

The options market is pricing in a significant move, suggesting expectations are already high.

Historical trends show that production efficiencies can offset cost increases.

Key Risk

If gold production volume exceeds 1.5 million ounces, it could challenge the current cautious outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on production efficiency and cost management, which are critical in the current gold price environment.

Bull Confirmed If

A gold production volume exceeding 1.5 million ounces would confirm strong operational performance.

Bear Confirmed If

If COGS increases by more than 10% compared to the previous quarter, it would raise concerns about profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±10.44%

Historical Avg

±1.3%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.

Options are pricing ±10.4% while NEM has averaged ±1.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

53.6%

Calls (558K)P/C Ratio: 0.26Puts (532K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Newmont beats expectations, history suggests the stock could rise by around 0.35%, confirming strong operational efficiency.

In-Line / Cautious

If results come in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss could lead to a decline of about 1.60%, reflecting disappointment in production or rising costs.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on gold production volume and operational efficiency.
2Insights into cost management strategies and their effectiveness.
3Comments on the outlook for gold prices and market demand.
4Details on exploration efforts and potential new projects.
5Management's view on macroeconomic factors affecting the gold market.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Calix, Inc.

Company Snapshot

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a crucial measure of profitability and will indicate how well Newmont is managing its costs and revenues.

Not available

Gold Production Volume

This metric will show how effectively Newmont is operating its mines and meeting demand in the gold market.

Not available

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

NEM Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

88%

Avg EPS Surprise

+33.89%

Avg Stock Reaction

+0.10%

Last Quarter Recap

Management Promises & Guidance

Focus on cost management to improve margins.
Commitment to sustainable mining practices.
Plans to enhance exploration efforts to boost future gold reserves.

Expectations

Wall Street Expectations

Bull Case

If Newmont continues its trend of beating EPS estimates, it could signal strong operational efficiency and robust demand for gold, leading to a positive stock reaction.

Bear Case

Conversely, if production costs rise significantly or gold prices decline, it could result in disappointing earnings and a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported gold production volume for Q2 2026?

Production volume is critical for assessing operational efficiency and future revenue potential, especially in a fluctuating gold market.

How has the cost of goods sold (COGS) changed compared to previous quarters?

Changes in COGS will directly impact profitability and could influence investor sentiment regarding Newmont's cost management strategies.

Edge

What the Street Is Missing

Why consensus could be wrong

The consensus may underestimate the impact of Newmont's cost management initiatives, which could lead to better-than-expected margins despite rising gold prices.

Supporting Evidence

Newmont has consistently beaten EPS estimates, indicating strong operational control.

The options market is pricing in a significant move, suggesting expectations are already high.

Historical trends show that production efficiencies can offset cost increases.

Key Risk

If gold production volume exceeds 1.5 million ounces, it could challenge the current cautious outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on production efficiency and cost management, which are critical in the current gold price environment.

Bull Confirmed If

A gold production volume exceeding 1.5 million ounces would confirm strong operational performance.

Bear Confirmed If

If COGS increases by more than 10% compared to the previous quarter, it would raise concerns about profitability.

Pre-Earnings Positioning

Options Market

Implied Move

±10.44%

Historical Avg

±1.3%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings report.

Options are pricing ±10.4% while NEM has averaged ±1.3% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

53.6%

Calls (558K)P/C Ratio: 0.26Puts (532K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Newmont beats expectations, history suggests the stock could rise by around 0.35%, confirming strong operational efficiency.

In-Line / Cautious

If results come in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss could lead to a decline of about 1.60%, reflecting disappointment in production or rising costs.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on gold production volume and operational efficiency.
2Insights into cost management strategies and their effectiveness.
3Comments on the outlook for gold prices and market demand.
4Details on exploration efforts and potential new projects.
5Management's view on macroeconomic factors affecting the gold market.