Newmont beats Q1 profit estimates, raises buyback program amid strong gold prices.

Newmont Corporation reported stronger-than-expected first-quarter earnings and free cash flow, driven by higher gold prices, increased production, and lower costs. Adjusted earnings per share were $2.90, surpassing estimates, while free cash flow reached $3.14 billion. The company exhausted its previous $6 billion share buyback authorization and approved an additional $6 billion program, signaling confidence despite rising costs from oil prices and Ghana royalties. Production guidance for 2026 remains steady, though second-quarter costs are expected to rise due to higher capital spending and operational challenges at several mines.