Newmont Corporation (NEM) came out with quarterly earnings of $0.50 per share, missing the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.96%. A quarter ago, it was expected that this gold and copper miner would post earnings of $0.42 per share when it actually produced earnings of $0.36, delivering a surprise of -14.29%.Over the last four quar ...

DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) reported higher gold Mineral Reserves ("reserves") of 135.9 million attributable ounces for 2023 compared to the Company’s 96.1 million ounces at the end of 2022. Newmont has significant upside to other metals, including more than 30 billion pounds of copper reserves and nearly 600 million ounces of silver reserves. "Newmont has strengthened its position as the responsible gold leader with the industry's highest conce ...

DENVER--(BUSINESS WIRE)--`Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) (Newmont or the Company) today announced fourth quarter and full year 2023 results, as well as its 2024 outlook. "2023 was a transformational year for Newmont, and for all of our stakeholders," said Tom Palmer, Newmont's President and Chief Executive Officer. "With the acquisition of Newcrest now complete, our principal focus for 2024 is to integrate and transform our leading portfolio of Tier 1 assets into a unique ...

DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) (Newmont or the Company) today announced key actions that together will deliver on its clear and consistent strategy. "Newmont's go-forward portfolio is the new standard for gold and copper mining," said Tom Palmer, Newmont's President and Chief Executive Officer. "This portfolio provides our shareholders with exposure to the highest concentration of Tier 1 assets in the sector, each with the scale and mine life to ge ...

NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM Exhibit 99.1 Newmont Reports Fourth Quarter and Full Year 2023 Results; Provides 2024 Outlook for Integrated Company DENVER, February 22, 2024 – Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) (Newmont or the Company) today announced fourth quarter and full year 2023 results, as well as its 2024 outlook. "2023 was a transformational year for Newmont, and for all of our stakeholders," said Tom Palmer, Newmont's President and Chief Executive Officer. "Wi ...

Newmont Corporation (NEM) closed the most recent trading day at $32.12, moving +0.25% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.96%. Elsewhere, the Dow saw an upswing of 0.4%, while the tech-heavy Nasdaq appreciated by 1.3%.Heading into today, shares of the gold and copper miner had lost 11.03% over the past month, lagging the Basic Materials sector's loss of 4.97% and the S&P 500's gain of 3.69% in that time.The investment community will be paying clo ...

Gold Price and Mining Stocks Divergence - Gold prices (XAUUSD:CUR) have consolidated at December 2023 levels, while Newmont Corporation (NEM) and other gold mining stocks have underperformed, with NEM hitting new lows below November 2023 levels [1] - The VanEck Gold Miners ETF (GDX) has broadly derated, indicating a divergence between gold prices and gold mining stocks [1] - GLD (gold ETF) has outperformed GDX (gold miners ETF) since May 2023, suggesting market concerns over execution challenges in the gold mining sector [2] Newmont Corporation's Recent Developments - Newmont's acquisition of Newcrest has significantly bolstered its gold reserves, now estimated to last about 20 years, with expected synergies to drive operating performance [1] - The company is currently focused on integrating Newcrest assets, with management taking time to assess and optimize the acquisition [2] - Newmont is scheduled to report Q4 earnings on February 22, with investors advised to pay attention to updated FY24 guidance and management commentary [2] Financial Performance and Valuation - Analysts estimate Newmont's adjusted EPS to increase by approximately 40% in 2024, suggesting a bottoming out of earnings decline in 2023 [2] - The company's all-in sustaining costs (AISC) are around $1,400 per ounce, with expectations of further cost reductions due to improved scale economies [2] - Newmont's adjusted net margin is forecasted to improve significantly to 15.4% in FY24, supported by a robust balance sheet with an adjusted EBITDA leverage ratio of 0.46x [2] - Despite a "B+" valuation grade indicating relative undervaluation compared to materials sector peers, Newmont's forward EBITDA multiple of 6.5x is higher than the median of 5.6x for metal and mining peers [2] Market Sentiment and Investment Opportunity - The market remains cautious about production and execution risks in 2024, particularly related to the Newcrest integration [2] - NEM's recent price action suggests a potential bear trap or double-bottom setup, indicating a possible long-term low [3] - The stock's relatively attractive valuation, solid balance sheet, and improved earnings growth profile in 2024 may attract dip buyers, creating a mean-reversion opportunity [3] Industry Challenges - Gold mining investors are concerned about costs, mine quality, and production shortfalls, which have contributed to the underperformance of gold mining stocks in 2023 [2] - The sector faces ongoing execution challenges, as reflected in the divergence between gold prices and gold mining stocks [2]

Blue-chip stocks generally command fair valuation or trade at a premium to market valuation. The reasons include a low beta, stable cash flows and a healthy dividend yield. However, there are blue-chip stocks that trade at undervalued levels. This provides a golden opportunity for investors to add quality to their portfolios.Blue-chip companies may face near-term headwinds. These can be industry or company specific. Strong fundamentals ensure that blue-chip names navigate challenging times and continue to i ...

DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) and Project C.U.R.E. announce a five-year agreement to deliver medical supplies and life-saving training for healthcare providers in developing countries and communities near Newmont mining operations. Under the agreement, Newmont commits to an annual contribution of $200,000 over the next five years, totaling $1 million. “Creating a positive impact on more than 10 million people globally, through our partnership with ...

Newmont Corporation (NEM) closed the most recent trading day at $34.51, making no change from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 1.61%. Elsewhere, the Dow saw a downswing of 0.82%, while the tech-heavy Nasdaq depreciated by 2.23%.Prior to today's trading, shares of the gold and copper miner had lost 15.64% over the past month. This has lagged the Basic Materials sector's loss of 6.01% and the S&P 500's gain of 3.28% in that time.The investment comm ...