Newmont's September 2026 quarter produced strong cash, but the useful question for this stock review is what remains after investment and how much of that result can survive a different gold-price or cost environment. The completed October 23 share-price chart is a separate test of market expectations; it cannot establish that a profitable quarter will repeat.
Cash after mine investment
Newmont reported $2.768 billion of GAAP operating cash flow in the three months ended September 30, 2026. Subtracting $856 million of additions to property, plant and mine development gives its company-defined, non-GAAP free cash flow of $1.912 billion. That is stronger than the $1.571 billion reported for the year-earlier quarter, using the company's same definition. It is before dividends, buybacks, debt transactions and future development needs; working capital and cash taxes can change the next quarter.
This cash result accompanied about 1.3 million attributable gold ounces of production. By-product all-in sustaining costs were $1,454 per ounce for the quarter. AISC is a non-GAAP operating measure, not the accounting cost of every ounce or a guarantee of cash margin. The revised full-year 2026 outlook is $1,520 per ounce of by-product AISC and 5.260 million attributable gold ounces in the guidance table, subject to the release's stated uncertainty; those are forecast figures, distinct from the completed quarter.
Newmont Q3 2026 release and reconciliations
Red Chris makes the capital decision tangible
The Red Chris block cave is the largest visible long-horizon use of cash in this story. Newmont owns 70% of the joint venture. The company estimates $4.2 billion-$4.8 billion of development capital on a 100% project basis, stated in real U.S. dollars and net of an anticipated CAD$500 million government contribution whose terms remain to be finalized. It excludes the transition cost from open pit to block cave. That range is not Newmont's 70% cash bill, and it is not an approved construction budget. The feasibility study is nearing completion; a full-funds investment decision is expected in early 2027, subject to board and joint-venture approvals.
Newmont's release targets commercial production in 2033 if the project proceeds. Those dates and mine-life estimates are forward-looking. The next useful evidence is the final feasibility study, approved funding terms, construction schedule and whether operating cash can fund the chosen share of investment while maintaining balance-sheet flexibility.
What the completed chart says
NEM closed the completed October 23 regular session at $108.87 on the two agreeing daily-history sources, down 4.59% from Thursday; Nasdaq's dated summary is one cent lower. That close is below the independently calculated 20-, 50- and 200-day averages of $115.58, $121.67 and $112.45. The old 200-day average is now the first broad trend reference above price, while the 20- and 50-day averages remain separate, higher tests. Data providers disagree on Friday's exact intraday low, so it is not used here as a confirmed support line.
A daily reclaim means a retest and daily close above the relevant broken level. An intraday touch is not confirmation. Newmont has demonstrated cash conversion in this quarter, while its forward cost outlook, gold-price sensitivity and Red Chris decision remain separate tests. None of those business figures supplies a share-price target.
Completed NEM daily history | Nasdaq dated close | Newmont charts | More stock reviews
Market research only, not a recommendation to buy or sell.