The S&P/ASX 200 Index (ASX: XJO) gained a solid 2.3% in July, with most ASX 200 gold stocks mildly underperforming those gains.
This saw the S&P/ASX All Ordinaries Gold Index (ASX: XGD) increase a more modest 1.0% over the month just past.
Investors didn't get much direction from the gold price in July. The yellow metal was trading for US$4,030 per ounce on 1 July. It then traded in a fairly tight range to be fetching US$4,046 per ounce on 31 July, according to data from Bloomberg.
So how did Evolution Mining Ltd (ASX: EVN), Newmont Corp (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) shares stack up?
Let's dig in.
Evolution Mining shares slide despite record $3.4 billion cash flow
Evolution Mining shares slipped 4.1% in July to end the month trading for $11.27 apiece.
It was a busy month for the ASX 200 gold stock, with Evolution releasing its June quarter update on 15 July.
Over the three-month period, the miner produced 180,000 ounces of gold and 19,000 tonnes of copper at an all-in sustain cost (AISC) of $1,706 per ounce.
The miner met its full year FY 2026 production and cost guidance, reporting FY 2026 gold production: 715,000 ounces and copper production of 66,000 tonnes. FY 2026 AISC came in at a low $1,717 per ounce.
This helped Evolution Mining achieve record operating mine cash flow of $3.39 billion.
The ASX 200 gold stock captured investor interest again on 27 July following news that it will acquire Aussie copper and gold miner Carnaby Resources Ltd (ASX: CNB).
The all-share acquisition deal values Carnaby Resources at around $213 million.
Northern Star shares outperform on gold production boost
Northern Star shares outpaced the benchmark in the month just gone, gaining 5.0% to close on 31 July trading for $19.90 each.
The ASX 200 gold stock gained 2.2% on 29 July, following the release of its June quarter update.
Over the three months, Northern Star reported gold sales of 433,482 ounces, up 14% quarter on quarter. The miner produced that gold at an all-in sustaining cost (AISC) of $2,651 per ounce.
For the full FY 2026 year management expect Northern Star's earnings will be between $2.86 billion and $2.95 billion, in line with cash earnings of $2.87 billion in FY 2025.
Newmont shares finish in the green
Last but not least, Newmont shares managed to close out July in the green, finishing the month up a slender 0.3% at $134.97 each.
Newmont released its own June quarterly update on 24 July.
Shares in the ASX 200 gold stock closed down 1.4% on the day, with the miner reporting a 14.3% year decline in quarterly gold production to 1.2 million ounces. And Newmont's AISC of US$1,938 per ounce in the June quarter was up 21.7% from last year.
However, the pain was mitigated by the increase in the average realised gold price Newmont received to US$4,414 per ounce. This helped drive a 15.1% year on year boost in quarterly sales to US$6.12 billion.
Reported adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of $3.76 billion were up 25%.
The post Buying ASX 200 gold stocks? Here's how Evolution Mining, Newmont and Northern Star shares stacked up in July appeared first on The Motley Fool Australia.
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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