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Newmont Corporation (NYSE:NEM) is one of Goldman Sachs top gold stock picks. On April 23, Newmont Corporation (NYSE:NEM) delivered strong operational and financial results for the first quarter. During the quarter, the company produced 1.3 million attributable gold ounces and achieved a record $3.1 billion in quarterly free cash flow.
Newmont Corporation (NYSE:NEM) is on track to achieve its 2026 guidance of 5.3 million attributable gold ounces. The company achieved net income of $3.3 billion and adjusted net income of $3.2 billion, or $2.90 per share, in the first quarter. It also returned $2.7 billion to shareholders through stock buybacks and dividends.
The company’s board has approved an additional $6 billion for share repurchases. The board has also approved a $0.26-per-share dividend for the first quarter, payable on June 22 to shareholders of record as of May 27. Newmont Corporation plans to spend $1.1 billion on dividends in 2026.
Newmont Corporation (NYSE:NEM) is the world’s largest gold mining company, focusing on the exploration, development, and production of gold, along with byproduct metals like copper, silver, zinc, and lead. It operates a global portfolio of long-lived, high-quality mines with a focus on responsible mining and environmental stewardship.
While we acknowledge the potential of NEM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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