Financial Data and Key Metrics Changes - Newmont generated $3.3 billion in adjusted EBITDA and adjusted net income of $1.71 per share for the third quarter, a 20% increase from the second quarter and more than double last year's result [14] - The company achieved record third-quarter cash flow of $1.6 billion, contributing to an all-time annual record of $4.5 billion with one quarter remaining [8][15] - The balance sheet was strengthened, ending the quarter in a near-zero debt position after retiring $2 billion of debt [9][10] Business Line Data and Key Metrics Changes - Production was largely in line with the second quarter, driven by higher grades and improved productivity at Subika Underground, while Peñasquito delivered a lower proportion of gold [11][12] - The company completed mining at the Subika Open Pit and shifted activities to lower grades from the Awonsu Open Pit [11] - At Ahafo, the construction of the engineered wall of the Phase 14A layback was completed, preparing for future higher grades [12] Market Data and Key Metrics Changes - Newmont received nearly $640 million in net cash proceeds from equity and asset sales since the start of the third quarter, marking the successful completion of its asset divestment program [8] - Moody's upgraded Newmont's issuer credit rating to A3 with a stable outlook, reflecting the improved credit profile and financial management [10] Company Strategy and Development Direction - The company is focused on maintaining a strong balance sheet, funding cash-generative capital projects, and returning capital to shareholders [15][22] - Newmont is committed to a disciplined capital allocation strategy, prioritizing investments in its own assets and share buybacks [49] - The restructuring includes a decentralized organizational structure to enhance accountability and decision-making at operating sites [9][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year production guidance and highlighted the importance of operational performance, safety, cost, and productivity [16][21] - The company anticipates a reduction in absolute cost guidance for G&A, exploration, and advanced projects by approximately 15% [17] - Future production is expected to be within the same guidance range for 2026, but towards the lower end due to planned mine sequencing [19][71] Other Important Information - The company declared commercial production at its new mine a half mile north, which is expected to add profitable gold production over an initial 13 years [10][24] - Newmont has returned $823 million to shareholders since the last earnings call through dividends and share repurchases [10][22] Q&A Session Summary Question: Capital allocation and balance sheet management - Management remains committed to a well-defined capital allocation framework and will review returns to shareholders quarterly [30] Question: Project pipeline updates - The proposal for Red Chris remains on track for mid-next year, and all longer-dated projects will need to earn their rights for capital allocation [32] Question: Team structure and appointments - The executive leadership team is strong, with key appointments being made, including a focus on filling the CFO position [36] Question: Ramp-up of new mine - The ramp-up of the new mine is on schedule, with commercial production expected to be declared soon [38] Question: Reserve pricing and growth expectations - The reserve and resource review is ongoing, with outcomes expected in February next year [42] Question: Cost inflation and operational efficiencies - Normal increases in labor and consumables are expected, but cost-saving initiatives are helping to offset higher royalties and taxes [72] Question: Capital allocation for growth assets - The focus remains on internal investments and share buybacks, with any acquisitions being value accretive [49] Question: Exploration and advanced projects budget - The reduction in exploration and advanced projects budget is due to rationalization and strategic capital allocation decisions [92]

Financial Data and Key Metrics Changes - Newmont generated $3.3 billion in adjusted EBITDA and adjusted net income of $1.71 per share for the third quarter, a 20% increase from the second quarter and more than double last year's result [14] - The company achieved record third-quarter cash flow of $1.6 billion, contributing to an all-time annual record of $4.5 billion with one quarter remaining [8][15] - The balance sheet was strengthened, ending the quarter in a near-zero debt position after retiring $2 billion of debt [9][10] Business Line Data and Key Metrics Changes - Production was largely in line with the second quarter, driven by higher grades and improved productivity at Subika Underground, while Peñasquito delivered a lower proportion of gold [11][12] - The company completed mining at the Subika Open Pit and shifted activities to lower grades from the Awonsu Open Pit [11] - At Ahafo, the construction of the engineered wall of the Phase 14A layback was completed, preparing for future higher grades [12] Market Data and Key Metrics Changes - Newmont received nearly $640 million in net cash proceeds from equity and asset sales since the start of the third quarter, marking the successful completion of its asset divestment program [8] - Moody's upgraded Newmont's issuer credit rating to A3 with a stable outlook, reflecting the improved credit profile and financial management [10] Company Strategy and Development Direction - The company is focused on maintaining a strong balance sheet, funding cash-generative capital projects, and returning capital to shareholders [15][22] - Newmont is committed to a disciplined capital allocation strategy, prioritizing investments in its own assets and share buybacks [49] - The restructuring includes a decentralized organizational structure to enhance accountability and decision-making at operating sites [9][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year production guidance and highlighted the importance of operational performance, safety, cost, and productivity [16][21] - The company anticipates a reduction in absolute cost guidance for G&A, exploration, and advanced projects by approximately 15% [17] - Future production is expected to be within the same guidance range for 2026, but towards the lower end due to planned mine sequencing [20][71] Other Important Information - The company declared commercial production at its new mine a half mile north, which is expected to add profitable gold production over an initial 13 years [10][24] - Newmont has returned $823 million to shareholders since the last earnings call through dividends and share repurchases [10][22] Q&A Session Summary Question: Capital allocation and balance sheet management - Management remains committed to a well-defined capital allocation framework and will review returns to shareholders quarterly [30] Question: Project pipeline updates - The proposal for Red Chris remains on track for mid-next year, and all longer-dated projects will need to earn their rights for capital allocation [32] Question: Autonomy and restructuring impact - The restructuring has led to a strong leadership team with key appointments being made, focusing on operations and projects [36] Question: Production guidance for 2026 - Production for managed operations is expected to be on the lower end of the guidance range, around 4.2 million ounces [71] Question: Cost inflation and underlying cost pressures - Normal increases in labor and consumables are expected, but cost-saving initiatives are helping to offset higher royalties and taxes [72]

Financial Data and Key Metrics Changes - Newmont generated record third-quarter cash flow of $1.6 billion, leading to an all-time annual record of $4.5 billion with one quarter remaining [6][12] - Adjusted EBITDA for the third quarter was $3.3 billion, with adjusted net income of $1.71 per share, a 20% increase from the second quarter and more than double last year's result [11][12] - The company ended the quarter with $5.6 billion in cash and reduced gross debt to $5.4 billion, achieving a near-zero net debt position [20][21] Business Line Data and Key Metrics Changes - Production was largely in line with the second quarter, driven by higher grades and improved productivity at Subika Underground [9][10] - Peñasquito delivered a lower proportion of gold but steady lead, silver, and zinc production, consistent with planned sequences [9] - The new mine a half mile north is expected to add profitable gold production over an initial 13 years of mine life [8][10] Market Data and Key Metrics Changes - Newmont received nearly $640 million in net cash proceeds from equity and asset sales since the start of the third quarter, marking the successful completion of its asset divestment program [6][12] - Moody's upgraded Newmont's issuer credit rating to A3 with a stable outlook, reflecting improved credit profile and financial management [8] Company Strategy and Development Direction - The company is focused on maintaining a strong balance sheet, funding cash-generative capital projects, and returning capital to shareholders [12][20] - Newmont is committed to a disciplined capital allocation strategy, prioritizing investments in its own assets and share buybacks [43][44] - The restructuring into two business units aims to enhance accountability and streamline operations [7][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year production guidance and highlighted strong execution across all managed operations [13][14] - The company anticipates higher ounces from Nevada Gold Mines in the fourth quarter and is focused on cost discipline and productivity improvements [14][19] - Management acknowledged potential challenges from increased profit sharing, royalties, and production taxes due to higher gold prices but expects to offset these impacts through ongoing optimization [15][19] Other Important Information - The company has successfully completed its asset divestment program, generating over $3.5 billion in after-tax cash proceeds in 2025 [23] - Newmont's focus remains on maximizing capacity and responsible capital management, particularly regarding tailings capacity at Cadia [16][17] Q&A Session Summary Question: Capital allocation and balance sheet management - Management remains committed to a well-defined capital allocation framework and will review returns to shareholders quarterly [28] - If gold prices remain high, the company may accelerate cash returns rather than build cash reserves [29] Question: Project pipeline updates - The proposal for Red Chris is on track for mid-next year, with no delays from the recent incident [30] Question: Team structure and key appointments - The company has a vacancy for CFO and has restructured into two business units, each led by strong Managing Directors [32] Question: Production expectations for Yanacocha - Production is expected to taper slightly in the fourth quarter as mining concludes at Ketchum Mine Pit [48] Question: Cost inflation and guidance for 2026 - Management indicated that cost inflation will be part of the budgeting process, with normal increases expected for labor and consumables [61] Question: Exploration and advanced projects budget - The reduction in exploration budget is due to a deliberate review of asset potential and strategic capital allocation decisions [76][79]

Financial Data and Key Metrics Changes - Newmont generated record third quarter cash flow of $1,600 million, enabling an all-time annual record of $4,500 million with one quarter still remaining [9][13] - Adjusted EBITDA for the third quarter was $3,300 million, and adjusted net income was $1.71 per share, a 20% increase from the second quarter and more than double last year's result [13] - The company ended the quarter with $5,600 million in cash and reduced gross debt to $5,400 million, achieving a near zero net debt position [21][22] Business Line Data and Key Metrics Changes - Production was largely in line with the second quarter, driven by higher grades at Brucejack, improved productivity at Cerro Negro, and success from patented injection leaching technology at Yanacocha [11] - Penasquito delivered a lower proportion of gold but steady lead, silver, and zinc production, consistent with planned sequences [11] - Ahafo North mine declared commercial production, expanding the existing footprint in Ghana and adding profitable gold production over an initial thirteen years [10][24] Market Data and Key Metrics Changes - The company received nearly $640 million in net cash proceeds from equity and asset sales since the start of the third quarter, marking the successful completion of its asset divestment program [9][14] - Moody's upgraded Newmont's issuer credit rating to A3 with a stable outlook, reflecting improved credit profile and prudent financial management [10] Company Strategy and Development Direction - Newmont is focused on maintaining a strong balance sheet, funding cash-generative capital projects, and returning capital to shareholders [15][22] - The company has streamlined its organizational structure into two business units, enhancing decision-making authority at operating sites [9][10] - Future capital allocation will prioritize internal investments and share buybacks, with a disciplined approach to any potential acquisitions [54][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year production guidance and highlighted strong execution across all managed operations [15] - The company anticipates a reduction in absolute cost guidance for 2025 by approximately 15% due to cost-saving initiatives [16] - Management acknowledged the potential impact of elevated gold prices on profit sharing, royalties, and production taxes, but expects to offset these through ongoing optimization [20] Other Important Information - Newmont has returned $823 million to shareholders since the last earnings call through dividends and share repurchases [10][22] - The company has repaid $3.9 billion of debt over the last two years and returned over $5.7 billion to shareholders [24] Q&A Session Summary Question: Capital allocation and balance sheet strategy going into 2026 - Management remains committed to a defined capital allocation framework and will review returns to shareholders quarterly [29][30] Question: Updates on project pipeline and potential delays - Red Chris remains on track for a proposal to the Board by mid-next year, with ongoing investigations from a previous incident incorporated into feasibility studies [32] Question: Key appointments and team structure post-restructuring - The executive leadership team is capable, with a focus on operations and projects, and a key appointment for CFO is being prioritized [36][38] Question: Ahafo North ramp-up and commercial production - The ramp-up is on schedule, with commercial production declared after running for thirty days at over 65% of design capacity [39] Question: Reserve pricing and growth expectations - Management is in the middle of budgeting and resource review, with outcomes expected in February next year [44] Question: Cost inflation and underlying cost pressures - Normal increases in labor and consumables are expected, but cost-saving initiatives are helping to offset some inflationary pressures [81] Question: Exploration and advanced projects capital allocation - The reduction in exploration spending is a result of a deliberate review of asset potential and targeting dollars towards high-value areas [103]

Core Viewpoint - Newmont reported better-than-expected Q3 adjusted earnings and revenues, but lower production levels hindered the company's ability to capitalize on record-high gold prices [3]. Financial Performance - Q3 profit doubled to $1.83 billion, or $1.67 per share, compared to $922 million, or $0.80 per share, in the same quarter last year [4]. - Adjusted earnings exceeded expectations, indicating strong financial performance despite production challenges [3].

Core Insights - Newmont Corporation reported quarterly earnings of $1.71 per share, exceeding the Zacks Consensus Estimate of $1.29 per share, and showing a significant increase from $0.81 per share a year ago, resulting in an earnings surprise of +32.56% [1] - The company achieved revenues of $5.52 billion for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 11.06% and up from $4.61 billion year-over-year [2] - Newmont's stock has increased approximately 133.8% since the beginning of the year, significantly outperforming the S&P 500's gain of 13.9% [3] Earnings Outlook - The future performance of Newmont's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [4] - The current consensus EPS estimate for the upcoming quarter is $1.37 on revenues of $5.13 billion, and for the current fiscal year, it is $5.65 on revenues of $20.8 billion [7] Industry Context - The Mining - Gold industry, to which Newmont belongs, is currently ranked in the top 13% of over 250 Zacks industries, indicating a favorable outlook for stocks within this sector [8] - Another company in the same industry, Comstock Inc., is expected to report a quarterly loss of $0.18 per share, with revenues projected to be $0.99 million, reflecting a year-over-year increase of 76.8% [9]

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Financial Performance - The company generated a record third-quarter free cash flow of $1.6 billion[13] - Cash from operations reached $2.3 billion[17] - Adjusted EBITDA was $3.3 billion[17] - The company retired $2.0 billion in debt, achieving a near-zero net debt position[13] Production and Costs - Attributable gold production from core managed operations was 1,054Koz, and from core non-managed operations was 367Koz, totaling 1,421Koz for the core portfolio[14] - The company improved 2025 cost and capital guidance due to disciplined cost reduction efforts[13] - The company expects 2025 gold production to be 5.6Moz[19] - The company expects Q4 2025 gold production to be 1.4Moz[19] Capital Allocation and Returns to Shareholders - The company returned $823 million to shareholders through regular dividends and share repurchases[13] - Shareholder returns include $179 million of shares repurchased in October 2025[11, 20, 24] - The company has $5.6 billion in cash and cash equivalents[17, 20] Divestiture Program - The company received net cash proceeds of nearly $640 million from asset and equity sales[13] - The company completed a divestiture program of approximately $2.6 billion[23] - The company streamlined its equity portfolio for approximately $900 million after-tax cash proceeds in 2025[23]

Newmont delivered stronger-than-expected quarterly earnings as the world’s largest gold miner contained costs at a time of surging precious metal prices https://t.co/CywoilAH8N ...

Financial Performance - Newmont Corporation reported Q3 2025 sales of $5,524 million, a 20% increase from $4,605 million in Q3 2024[10] - Net income from continuing operations for Q3 2025 was $1,843 million, compared to $875 million in Q3 2024, reflecting a 110% increase[10] - Adjusted EBITDA for the nine months ended September 30, 2025, was $10,148 million, significantly higher than $4,692 million for the same period in 2024[10] - Free cash flow for Q3 2025 was $4,486 million, compared to $1,280 million in Q3 2024, indicating a substantial increase[10] - Reported net income of $1,832 million or $1.67 per diluted share, an increase of $959 million from the prior-year quarter[17] - Adjusted net income of $1,883 million or $1.71 per diluted share, an increase of $0.90 per diluted share from the prior-year quarter[17] - Adjusted EBITDA reported at $3,309 million, a 68% increase from the prior-year quarter[17] - Net cash provided by operating activities of $6,713 million for the nine months ended September 30, 2025, a 76% increase from the prior year[17] Production Metrics - Consolidated gold production for Q3 2025 was 1,317 thousand ounces, down from 1,574 thousand ounces in Q3 2024, a decrease of 16%[12] - Newmont's attributable gold ounces produced in Q3 2025 were 1,305 thousand ounces, down from 1,559 thousand ounces in Q3 2024, a decline of 16%[12] - Attributable production included 1.4 million ounces of gold and 359 thousand attributable gold equivalent ounces from co-products[17] Pricing and Costs - Average realized gold price per ounce increased to $3,539 in Q3 2025, up 41% from $2,518 in Q3 2024[12] - Consolidated costs applicable to sales for gold per ounce decreased to $1,185 in Q3 2025 from $1,207 in Q3 2024[14] Dividends and Cash Management - Cash dividends declared per common share remained steady at $0.25 for both Q3 2025 and Q3 2024[10] - Ended the quarter with $5.6 billion of consolidated cash and $9.6 billion of total liquidity[17] Investments and Assumptions - Sold investment in Orla Mining Ltd. for $428 million and announced the sale of the Coffee development project[17] - Gold price assumptions: $3,457 per ounce (short-term) and $2,100 per ounce (long-term)[334] Risk Factors - A hypothetical 10% adverse movement in local currency exchange rates would increase costs applicable to sales per ounce by approximately $75[338] - A hypothetical 10% adverse movement in forward electricity rates would decrease the fair value of the Cadia PPA cash flow hedge by approximately $40[347]