Silver up 161% year‑on‑year, miners post records

Newmont reported record quarterly earnings and free cash flow on April 23, adding to a run of strong first-quarter results across precious-metals producers as silver and gold prices stayed elevated into mid-May. The company said free cash flow reached $3.1 billion in the quarter, while other miners and streaming companies also pointed to record cash balances, revenue or earnings. The claims circulating on X about a broad windfall for miners are partly supported by company filings and releases, but the specific assertion that silver is up 161% year on year could not be confirmed from primary benchmark data reviewed for this article. LBMA showed the silver benchmark at $78.740 per ounce on May 15, while CME silver futures were around $76.215 early on May 18. ### Did silver really rise 161% from a year earlier? LBMA listed the silver benchmark price at $78.740 per ounce on May 15, 2026, on its public prices page. CME Group showed July 2026 silver futures at $76.215 in early trading on May 18. Those figures indicate silver remained sharply above year-earlier levels, but LBMA’s public page reviewed here did not provide the historical daily comparison needed to verify a precise 161% year-on-year move. (newmont.com) Trading Economics, which tracks a CFD benchmark rather than the LBMA fix, said silver was about 131.66% higher than a year earlier on May 18. SilverPrice.org showed a one-year gain of 133.71% on May 18. Those figures point to a triple-digit annual increase, but they do not match the exact 161% claim in the X post. ### What did Newmont actually report? Newmont said on April 23 that it generated an all-time record $3.1 billion in quarterly free cash flow in the first quarter of 2026. (lbma.org.uk) The Denver-based miner also reported net income of $3.3 billion, adjusted net income of $3.2 billion, or $2.90 per diluted share, and adjusted EBITDA of $5.2 billion. Chief Executive Natascha Viljoen said the company produced about 1.3 million attributable gold ounces in the quarter and remained on track for its 2026 guidance. (tradingeconomics.com) The company also said it delivered $2.7 billion of shareholder returns through buybacks and dividends since its previous earnings call and that its board authorized an additional $6.0 billion share repurchase program. Newmont’s release did not, in the material reviewed here, state that earnings beat analyst estimates by 33%, so that part of the social-media claim could not be independently confirmed from the company’s own filing. (newmont.com) ### Which other miners posted standout quarter numbers? Pan American Silver said on May 5 that first-quarter free cash flow was $488 million and that cash and short-term investments reached a record $1.8 billion, including $199 million attributable to its Juanicipio stake. Chief Executive Michael Steinmann said stronger quarter-over-quarter silver and gold prices, production and cost management supported the result. The company reported revenue of $1.2 billion, or $1.3 billion including its 44% share of Juanicipio revenue. (newmont.com) First Majestic Silver said for the quarter ended March 31 that revenue rose 95% year over year to $476.7 million. The Vancouver-based company reported net earnings of $128.1 million, adjusted net earnings of $151.7 million, and free cash flow of $223.5 million after paying $95.5 million in cash income taxes, leading to a record treasury position of $1.1286 billion. (panamericansilver.com) Wheaton Precious Metals said on May 7 that it had announced record revenue, earnings and cash flow for the first quarter of 2026, according to its investor relations page. The company’s site also listed spot silver at $76.75 and spot gold at $4,546.94 when reviewed on May 18. ### What did the X thread get right, and what remains unverified? The May 17 X thread’s broader point — that precious-metals producers are reporting unusually strong cash generation while gold and silver prices remain elevated — is supported by multiple company disclosures reviewed for this article. (firstmajestic.com) Newmont, Pan American Silver, First Majestic and Wheaton all used the word “record” in describing at least one major first-quarter financial measure. (wheatonpm.com) The exact claim that silver rose 161% year on year, and the claim that Newmont beat estimates by 33%, could not be verified from the primary-source material examined here. Pan American said its dividend will be paid on or about June 1, 2026, to shareholders of record as of May 19, and Wheaton’s investor page lists a Canaccord conference appearance for May 19 as the next scheduled event. (panamericansilver.com) (newmont.com)