Newmont Adds $6B Stock Buyback Authorization as 1Q Profit Jumps

Dow Jones04:28

By Elias Schisgall

Newmont doubled the size of its stock buyback program after recording a jump in profit in the first quarter.

The gold-mining company on Thursday said its board authorized an additional $6 billion share repurchase authorization. Newmont purchased $2.4 billion worth of stock since it reported fourth-quarter earnings, exhausting the previous $6 billion authorization.

The company reported a profit of $3.26 billion, or $3.00 a share, compared with a profit of $1.89 billion, or $1.68 a share, a year earlier.

On an adjusted basis, the company logged earnings of $2.90 a share, ahead of the $2.18 analysts were expecting, according to FactSet.

Revenue rose to $7.31 billion from $5.01 billion a year prior. Analysts polled by FactSet were expecting $6.57 billion.

The average realized gold price per ounce was $4,900, up from $2,944 the previous year. The quarter included a significant run for gold prices, with February amounting to gold's best monthly performance, on a percentage basis, since January 2012.

Attributable gold production declined to 1.3 million ounces, down from 1.54 million a year earlier.

The company said it is on track to hit its full-year production target of 5.3 million attributable gold ounces, and reaffirmed its previous 2026 guidance expectations.

Shares of Newmont rose 1.9% to $113.21 in after-hours trading. The stock, which closed down 0.7% at $111.06, is up 11% this year.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

April 23, 2026 16:28 ET (20:28 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Newmont purchased $2.4 billion worth of stock since it reported fourth-quarter earnings, exhausting the previous $6 billion authorization. \n</p>\n<p>\n  The company reported a profit of $3.26 billion, or $3.00 a share, compared with a profit of $1.89 billion, or $1.68 a share, a year earlier. \n</p>\n<p>\n  On an adjusted basis, the company logged earnings of $2.90 a share, ahead of the $2.18 analysts were expecting, according to FactSet. \n</p>\n<p>\n  Revenue rose to $7.31 billion from $5.01 billion a year prior. Analysts polled by FactSet were expecting $6.57 billion. \n</p>\n<p>\n  The average realized gold price per ounce was $4,900, up from $2,944 the previous year. The quarter included a significant run for gold prices, with February amounting to gold's best monthly performance, on a percentage basis, since January 2012. \n</p>\n<p>\n  Attributable gold production declined to 1.3 million ounces, down from 1.54 million a year earlier. \n</p>\n<p>\n  The company said it is on track to hit its full-year production target of 5.3 million attributable gold ounces, and reaffirmed its previous 2026 guidance expectations. \n</p>\n<p>\n  Shares of Newmont rose 1.9% to $113.21 in after-hours trading. 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Newmont purchased $2.4 billion worth of stock since it reported fourth-quarter earnings, exhausting the previous $6 billion authorization. \n</p>\n<p>\n  The company reported a profit of $3.26 billion, or $3.00 a share, compared with a profit of $1.89 billion, or $1.68 a share, a year earlier. \n</p>\n<p>\n  On an adjusted basis, the company logged earnings of $2.90 a share, ahead of the $2.18 analysts were expecting, according to FactSet. \n</p>\n<p>\n  Revenue rose to $7.31 billion from $5.01 billion a year prior. Analysts polled by FactSet were expecting $6.57 billion. \n</p>\n<p>\n  The average realized gold price per ounce was $4,900, up from $2,944 the previous year. 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Newmont purchased $2.4 billion worth of stock since it reported fourth-quarter earnings, exhausting the previous $6 billion authorization. \n\n\n  The company reported a profit of $3.26 billion, or $3.00 a share, compared with a profit of $1.89 billion, or $1.68 a share, a year earlier. \n\n\n  On an adjusted basis, the company logged earnings of $2.90 a share, ahead of the $2.18 analysts were expecting, according to FactSet. \n\n\n  Revenue rose to $7.31 billion from $5.01 billion a year prior. Analysts polled by FactSet were expecting $6.57 billion. \n\n\n  The average realized gold price per ounce was $4,900, up from $2,944 the previous year. The quarter included a significant run for gold prices, with February amounting to gold's best monthly performance, on a percentage basis, since January 2012. \n\n\n  Attributable gold production declined to 1.3 million ounces, down from 1.54 million a year earlier. \n\n\n  The company said it is on track to hit its full-year production target of 5.3 million attributable gold ounces, and reaffirmed its previous 2026 guidance expectations. \n\n\n  Shares of Newmont rose 1.9% to $113.21 in after-hours trading. The stock, which closed down 0.7% at $111.06, is up 11% this year. \n\n\n \n\n\n  Write to Elias Schisgall at elias.schisgall@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 23, 2026 16:28 ET (20:28 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"shareholding","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2629986395","isCrawlerRequest":true}