Newmont Goldcorp shares jumped on Wednesday, 22 July 2026, as the world's largest gold miner benefited from a surge in the precious metal's price and its own cost-reduction efforts. The Denver-based company's stock rose more than 4% in early New York trading, helping to lift the broader mining sector on both sides of the Atlantic.
The rally came as spot gold breached the $2,500 per ounce mark for the first time, driven by a weaker US dollar and mounting expectations that the Federal Reserve will cut interest rates later this year. Investors have piled into gold as a hedge against geopolitical uncertainty and stubborn inflation in major economies.
Newmont Goldcorp's second-quarter results, released late on Tuesday, showed all-in sustaining costs fell to $1,210 per ounce, down from $1,315 a year earlier. This improvement, combined with the higher gold price, lifted the company's adjusted earnings to $0.82 per share, beating analyst forecasts of $0.74 per share, according to consensus estimates compiled by Bloomberg.
In London, the FTSE 100's mining index climbed 1.8%, with Fresnillo adding 2.3% and Endeavour Mining rising 1.9%. The broader FTSE 100 edged up 0.3% to 8,412 points, supported by the heavyweight mining and energy sectors. Analysts at RBC Capital Markets noted that Newmont's cost discipline provides a template for other miners, but warned that labour and energy cost pressures remain a risk for the industry.
For UK investors and pension holders with exposure to mining stocks or commodity-focused funds, the gold price rally has provided a welcome boost to portfolio values. However, analysts cautioned that gold's trajectory depends heavily on the pace of central bank policy easing and any sudden shift in risk appetite could trigger a sharp reversal.