Newmont Corporation's anticipated all-in sustaining costs (AISC) for 2025 and 2026 are as follows:
2025 AISC Guidance
Tier 1 Portfolio: Newmont projects an average AISC of $1,620 per ounce for its Tier 1 assets in 2025.
Total Portfolio: Including non-core assets, the company expects an average AISC of $1,630 per ounce for the full year.
Q1 2025 Actuals: In the first quarter of 2025, Newmont reported an AISC of $1,651 per ounce, aligning with its full-year guidance.
2026 AISC Outlook
Projected Reduction: Newmont anticipates a significant decrease in AISC to approximately $1,200 per ounce for its core portfolio by 2026.
This projected reduction is attributed to the company's commitment to achieving $500 million per year in cost and productivity improvements by the end of 2025.
The anticipated decrease in AISC reflects Newmont's strategic focus on operational efficiency and cost management, positioning the company favorably in the gold mining industry.
Newmont Corporation (NYSE: NEM) has experienced a significant boost in earnings over the past six months, largely due to a substantial rise in gold prices. As of June 13, 2025, gold prices reached a record high of $3,456.30 per ounce, driven by geopolitical tensions and increased demand for safe-haven assets .
In the first quarter of 2025, Newmont reported adjusted earnings of $1.25 per share, surpassing analyst expectations of $0.88 per share. The company's revenue increased by 25% year-over-year to $5.01 billion, aided by an average realized gold price of $2,944 per ounce . Despite a 19% decline in gold production to 1.54 million ounces due to asset sales and planned mine sequencing, the surge in gold prices offset the production decrease .
For the full year 2025, Newmont anticipates producing approximately 5.9 million ounces of gold, slightly above Wall Street estimates . The company also expects to generate significant free cash flow, with projections of a 10% yield in 2026, supported by high gold prices and cost controls . Additionally, Newmont plans to return substantial capital to shareholders, including $3 billion in buybacks next year .
Analysts have responded positively to Newmont's performance, with UBS upgrading the stock to “Buy” and setting a price target of $60, citing strong leverage to rising gold prices and effective divestments following its acquisition of Newcrest Mining .
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