Newmont Corporation

(New York Stock Exchange)
Back to all articles
Somewhat Bullish +45

Newmont stock faces higher spending as projects advance

Capacity expansion Company update Development project AI-generated analysis

πŸ“ˆ Newmont Corp reported record adjusted third-quarter earnings and strong free cash flow in October.

⛏️ Tanami Expansion 2 has completed shaft construction and is ahead of schedule for commercial production in H1 2027.

🌍 Red Chris feasibility study is nearing completion with an investment decision expected in early 2027.

πŸ’° Development capital is increasing by approximately $500 million from 2026 levels to fund Red Chris and Lihir projects.

πŸ“Š Newmont expects attributable gold production to grow by a low-to-mid single-digit percentage in 2027.

πŸ—οΈ Red Chris targets annual output of 275,000-325,000 gold ounces and 65,000-85,000 tonnes of copper from 2035-2040.

🀝 Newmont owns a 70 percent stake in the Red Chris joint venture project.

πŸ“‰ Stock traded at 96.58 euros on November 3, 2026, down 1.57% from the previous report.

⚠️ Higher execution and capital-allocation demands accompany the advancing growth pipeline.

πŸ”’ Project success depends on approvals, construction costs, and metal prices.

Bullish Signals
  • Newmont Corp reported record adjusted third-quarter earnings and strong free cash flow in late October 2026.
  • Tanami Expansion 2 is progressing ahead of schedule with shaft construction complete and commercial production expected in the first half of 2027.
  • The Red Chris project feasibility study is nearing completion, positioning for a full-funds investment decision in early 2027.
  • Newmont owns a 70 percent stake in the Red Chris joint venture, securing majority control over the asset's development.
  • The company plans to improve underground productivity as it moves beyond the production trough expected in 2026.
Risk Factors
  • Higher development spending will increase execution and capital-allocation demands for Newmont Corp.
  • Development capital is expected to rise by approximately $500 million from 2026 levels as Red Chris and Lihir projects advance.
Full Analysis
Newmont Corp is advancing its growth pipeline with increased capital intensity as key projects like Tanami Expansion 2 and Red Chris move forward. The company reported record adjusted third-quarter earnings and strong free cash flow in late October, which supports this higher development spending and future shareholder returns. Tanami Expansion 2 in Australia is progressing ahead of schedule following the completion of shaft construction, with commercial production now expected to begin in the first half of 2027. This project aims to improve underground productivity as the company moves past the production trough anticipated in 2026. The Red Chris copper-gold joint venture in British Columbia is nearing the completion of its feasibility study, with an investment decision expected in early 2027 subject to governance approval. Newmont owns a 70 percent stake in this project, which targets significant output growth over the next decade. Development capital requirements are rising by approximately $500 million from 2026 levels due to Red Chris and the Lihir Nearshore Barrier project. The company projects attributable gold production to grow by a low-to-mid single-digit percentage in 2027, with Red Chris targeting annual outputs of 275,000 to 325,000 gold ounces and 65,000 to 85,000 tonnes of copper between 2035 and 2040.