Newmont (NEM) Q1 earnings: Taking a look at key metrics versus estimates

Newmont Corporation (NEM) reported $7.31 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 45.9%. EPS of $2.90 for the same period compares to $1.25 a year ago.

The reported revenue represents a surprise of +14.88% over the Zacks Consensus Estimate of $6.36 billion. With the consensus EPS estimate being $2.07, the EPS surprise was +40.37%.

While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company’s underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock’s price performance.

Here is how Newmont performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Average realized price – Gold: $4900 per ounce versus the three-analyst average estimate of $4893.5 per ounce.
• Average realized price – Copper: 5.68 $/lb versus the three-analyst average estimate of 5.56 $/lb.
• Average realized price – Zinc: 1.44 $/lb versus 1.38 $/lb estimated by three analysts on average.
• Average realized price – Lead: 0.84 $/lb versus 0.88 $/lb estimated by three analysts on average.
• Geographic revenue- Nevada Gold Mines: $1.17 billion compared to the $1.2 billion average estimate based on two analysts. The reported number represents a change of +87.1% year over year.
• Geographic revenue- Pe?asquito: $1.18 billion versus the two-analyst average estimate of $956.56 million. The reported number represents a year-over-year change of +51.9%.
• Geographic revenue- Merian: $409 million versus $267.48 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +190.1% change.
• Geographic revenue- Cerro Negro: $264 million versus the two-analyst average estimate of $197.36 million. The reported number represents a year-over-year change of +144.4%.
• Geographic revenue- Yanacocha: $677 million versus $472.68 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +142.7% change.
• Geographic revenue- Lihir: $562 million compared to the $581.67 million average estimate based on two analysts.
• Geographic revenue- Tanami: $434 million versus the two-analyst average estimate of $333.41 million. The reported number represents a year-over-year change of +106.7%.
• Geographic revenue- Red Chris: $145 million versus the two-analyst average estimate of $130.43 million.