Newmont delivered a strong fourth-quarter performance, with adjusted earnings of $2.52 per share and revenue of $6.82 billion, both significantly exceeding analyst forecasts. The world's largest gold producer pointed to a record $7.3 billion in annual free cash flow for 2025, driving a roughly 1% share price gain. CEO Natascha Viljoen termed the period a "milestone year" for the company.

The miner's full-year results were underscored by robust capital discipline. Newmont returned $3.4 billion to shareholders via dividends and buybacks while simultaneously reducing debt by an identical amount. This dual action transformed its balance sheet, culminating in a net cash position of $2.1 billion and total liquidity exceeding $11.6 billion by year-end.

Operationally, Newmont met its production and cost targets for 2025. Looking forward, the company guided 2026 attributable gold production to approximately 5.3 million ounces. A key metric, gold all-in sustaining costs, is projected at around $1,680 per ounce. Sustaining capital will focus on tailings facilities at major sites like Cadia and Boddington, while development capital supports expansion projects.