Newmont and Barrick seen posting nearly $3.5 billion in Q2 profit as gold prices jump 37%
AI Market Summary
Reuters reports major gold miners Newmont and Barrick are expected to deliver sharply higher Q2 profits (nearly $3.5B combined, +46% YoY), driven by a ~37% rise in gold prices. However, elevated energy costs linked to the Iran war may offset part of the margin uplift. Analysts also flag potential large share buybacks, which could support sector positioning despite cost pressures.
Impact level
● Medium
Affected assets
NCSKGDX2USD/USDT+0.86%
AI Insight · NCSKGDX2USD/USDTAI Insight
● Neutral
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Newmont (NEM.N) and Barrick (ABX.TO) are expected to deliver combined net profit of nearly $3.5 billion for the second quarter, up about 46% year on year, as gold prices rose 37% from a year earlier. Higher energy costs linked to the Iran war are expected to offset part of the earnings boost from stronger bullion. Analysts also expect the two miners to launch large-scale share buybacks.
