RADNOR, Pa., Feb. 25, 2025 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the District of Colorado against Newmont Corporation (“Newmont”) (NYSE: NEM) on behalf of those who purchased or otherwise acquired Newmont securities between February 22, 2024, and October 23, 2024, inclusive (the “Class Period”). The lead plaintiff deadline is April 1, 2025. CONTACT K ...

Core Viewpoint - Newmont Corporation is facing a class action securities lawsuit due to alleged securities fraud that impacted investors between February 22, 2024, and October 23, 2024 [1][2] Group 1: Lawsuit Details - The lawsuit was initiated following Newmont's disappointing third quarter 2024 EBITDA highlights, which included decreased production and increased operating costs [2] - On October 23, 2024, Newmont's stock price dropped from $57.74 per share to $49.25 per share the following day after the announcement of lower production expectations and higher costs at its Tier 1 assets [2] Group 2: Investor Participation - Investors who suffered losses during the specified timeframe have until April 1, 2025, to request to be appointed as lead plaintiff, although participation in any recovery does not require this [3] - Class members may be entitled to compensation without any out-of-pocket costs or fees [3] Group 3: Legal Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4]

Core Viewpoint - Newmont Corporation is facing a class action lawsuit due to disappointing financial results and operational challenges, leading to a significant drop in its stock price [1][2]. Summary by Relevant Sections Class Action Details - The class period for the lawsuit is from February 22, 2024, to October 23, 2024 [1]. - Shareholders who purchased shares during this period are encouraged to register for potential lead plaintiff appointment [2]. Allegations Against Newmont - On October 23, 2024, Newmont announced disappointing EBITDA for Q3 2024, alongside decreases in production and increases in operating costs [1]. - The company indicated that mining operations at its two Tier 1 assets would experience lower production than previously guided, with expectations of higher costs [1]. - Following this announcement, Newmont's stock price fell from $57.74 per share to $49.25 per share within one day [1]. Next Steps for Shareholders - Shareholders must register by April 1, 2025, to participate in the class action [2]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle [2]. Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and fraud [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [3].

Core Viewpoint - A securities class action lawsuit has been filed against Newmont Corporation for allegedly making false and misleading statements regarding its business operations and financial prospects during the Class Period from February 22, 2024, to October 23, 2024 [1]. Allegations of Misconduct - The complaint claims that Newmont failed to deliver increased gold production at its Tier 1 operations, specifically at Lihir and Brucejack [2]. - It is alleged that Newmont experienced higher operating costs across its mining operations [2]. - As a result, the statements made by Newmont regarding its business and operational prospects were materially false and misleading [2]. Lead Plaintiff Process - Investors in Newmont have until April 1, 2025, to seek appointment as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel [3]. - A lead plaintiff acts on behalf of all class members and is typically the investor or small group of investors with the largest financial interest [3]. - The decision to serve as a lead plaintiff does not affect an investor's ability to share in any recovery [3]. Firm Background - Kessler Topaz Meltzer & Check, LLP is known for prosecuting class actions and has a reputation for recovering billions for victims of corporate misconduct [4]. - The firm aims to protect investors and others from fraud and negligence by businesses [4].

Core Viewpoint - Newmont Corporation (NEM) reported significant improvements in its fourth-quarter 2024 financial performance, with net earnings per share turning positive compared to a loss in the previous year, driven by increased revenues and gold production [1][5]. Financial Performance - Fourth-quarter net earnings from continuing operations were $1.24 per share, a recovery from a loss of $3.24 per share in the same quarter last year [1]. - Adjusted earnings were $1.40 per share, up from 46 cents in the prior-year quarter, exceeding the Zacks Consensus Estimate of 95 cents [1]. - Revenues for the fourth quarter reached $5,652 million, a 42.8% increase from $3,957 million in the prior-year quarter, surpassing the Zacks Consensus Estimate of $4,881 million [2]. Operational Highlights - Attributable gold production in the fourth quarter was 1.90 million ounces, a 9.2% increase year over year, exceeding the estimate of 1.8 million ounces [3]. - Average realized gold prices rose approximately 31.9% year over year to $2,643 per ounce, although slightly below the estimate of $2,652 per ounce [3]. - Costs applicable to sales for gold were $1,096 per ounce, up 0.9% year over year, exceeding the estimate of $1,050 per ounce [3]. Cost Metrics - All-in-sustaining costs (AISC) for gold decreased by around 1.5% year over year to $1,463 per ounce, which was below the estimate of $1,475.2 per ounce [4]. Annual Results - For FY 2024, adjusted earnings were $3.48 per share compared to $1.57 a year ago, with net sales increasing 58% year over year to $18,682 million [5]. Financial Position - The company ended the quarter with cash and cash equivalents of $3,619 million, a 20.6% increase year over year [6]. - Long-term debt stood at $7,552 million, an 8.6% increase year over year [6]. - Net cash from continuing operations (before working capital) was $2,398 million, up from $787 million a year ago [6]. Future Outlook - Attributable gold production for 2025 is forecasted at approximately 5.9 million ounces, with AISC projected at $1,630 per ounce for the total portfolio [7]. - The Total Tier 1 portfolio is expected to spend around $1.8 billion on sustaining capital and $1.3 billion on development capital in 2025 [8]. Stock Performance - Newmont's shares have increased by 55.7% over the past year, compared to the industry's growth of 57.5% [9].

NEW YORK, Feb. 21, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Newmont Corporation ("Newmont" or the "Company") (NYSE: NEM) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Newmont investors who were adversely affected by alleged securities fraud between February 22, 2024 and October 23, 2024. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/newmont-corporation-lawsuit-su ...

Newmont Corporation (NYSE:NEM) Q4 2024 Results Conference Call February 20, 2025 5:30 PM ET Company Participants Tom Palmer - President and Chief Executive Officer Karyn Ovelmen - Chief Financial Officer Natascha Viljoen - Chief Operating Officer Conference Call Participants Hugo Nicolaci - Goldman Sachs Daniel Morgan - Barrenjoey Lawson Winder - Bank of America Daniel Major - UBS Kate McCutcheon - Citi Josh Wolfson - RBC Capital Markets Al Harvey - JPMorgan Operator Hello, and welcome to Newmont's Fourth Q ...

Newmont Corporation (NEM) reported $5.65 billion in revenue for the quarter ended December 2024, representing a year-over-year increase of 42.8%. EPS of $1.40 for the same period compares to $0.50 a year ago.The reported revenue represents a surprise of +15.80% over the Zacks Consensus Estimate of $4.88 billion. With the consensus EPS estimate being $0.95, the EPS surprise was +47.37%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to ...

Financial Performance - Net income from continuing operations attributable to Newmont stockholders was $3,280 or $2.86 per diluted share, an increase of $5,801 from the prior year[22]. - Adjusted net income reported was $3,991 or $3.48 per diluted share, an increase of $1.91 per diluted share from the prior year[22]. - Adjusted EBITDA was $8,675, reflecting a 106% increase from the prior year[22]. - Net cash provided by operating activities of continuing operations was $6,318, a 129% increase from the prior year, with free cash flow of $2,916[22]. - The company reported a net income per share of $2.92 for 2024, compared to a net loss per share of $2.97 in 2023[724]. - The net income attributable to Newmont stockholders for 2024 was $3.348 billion, a recovery from a net loss of $2.494 billion in 2023[724]. - Net income for the year ended December 31, 2024, was $3,381 million, a significant increase from a net loss of $2,467 million in 2023[727]. - Comprehensive income attributable to Newmont stockholders was $3,239 million in 2024, compared to a loss of $2,509 million in 2023[727]. Production and Sales - Attributable gold production was approximately 7 million ounces, an increase of approximately 24% from the prior year[22]. - Sales for the year ended December 31, 2024, were $18,682 million, compared to $11,812 million in 2023[12]. - Consolidated gold ounces produced were 6,545 thousand, an increase from 5,401 thousand in 2023[16]. - Average realized price for gold was $2,408 per ounce, up from $1,954 per ounce in 2023[16]. - The company's sales for the year ended December 31, 2024, were $18.682 billion, a significant increase from $11.812 billion in 2023[724]. Costs and Expenses - Costs applicable to sales for 2024 were $8.963 billion, compared to $6.699 billion in 2023, reflecting a 33.8% increase[724]. - Exploration expenses for 2024 were $266 million, slightly up from $265 million in 2023[724]. - The company's reclamation and remediation costs for 2024 were $328 million, down from $1.533 billion in 2023[724]. Assets and Liabilities - The company ended the year with $3,619 million in consolidated cash and approximately $7,664 million of liquidity[22]. - Total assets rose to $56,349 million in 2024, compared to $55,506 million in 2023[730]. - Total liabilities decreased slightly to $26,240 million in 2024 from $26,301 million in 2023[730]. - The consolidated reclamation liabilities of the company totaled $8.5 billion as of December 31, 2024, including $1.5 billion in liabilities held for sale[705]. Impairment and Goodwill - The impairment charges for 2024 were $78 million, a significant decrease from $1.891 billion in 2023[724]. - Goodwill is tested for impairment annually and when circumstances indicate that the carrying value exceeds fair value[661]. - The qualitative goodwill impairment assessment indicated a goodwill balance of $668 million as of December 31, 2024[718]. - The ability to achieve estimated quantities of recoverable minerals from exploration stage mineral interests involves higher risks due to lower geological confidence[659]. Cash Flow and Financing - The company reported a net change in cash, cash equivalents, and restricted cash of $550 million for the year ended December 31, 2024[734]. - The company repaid $3,860 million in debt during 2024, while also issuing $3,476 million in new debt[732]. - Newmont's total equity increased to $30,109 million in 2024, up from $29,205 million in 2023[730]. - The company declared cash dividends of $1.00, $1.60, and $2.20 per common share for the years 2024, 2023, and 2022, respectively[738]. Risk Management - The company does not currently hold instruments to hedge against potential impacts due to market price changes in metals[680]. - The Cadia Power Purchase Agreement and foreign currency cash flow hedges are used for risk management, mitigating variability in future cash flows[689]. - A hypothetical 10% adverse movement in local currency exchange rates would increase costs applicable to sales by approximately $71 per gold ounce[685]. - The company has significant operations in multiple countries, with all production sold based on USD metal prices, exposing it to foreign currency exchange rate fluctuations[684]. Acquisitions and Divestitures - The company completed the acquisition of Newcrest Mining Limited for total non-cash consideration of $13,549 million on November 6, 2023[743]. - The company plans to divest six non-core assets and a development project, which are expected to be completed within 12 months[741]. Tax and Regulatory Matters - The Corporate AMT of 15% on adjusted financial statement income is effective for tax periods beginning in fiscal year 2023[841]. - The Pillar II agreement, signed by 138 countries, aims to implement a global minimum tax of 15%, with no material impact anticipated for Newmont[842]. - The Inflation Reduction Act introduced a 1% excise tax on stock repurchases effective on net stock repurchases made after December 31, 2022[840]. Accounting Policies - The Company’s Consolidated Financial Statements are prepared in accordance with GAAP, requiring estimates and assumptions that could differ from actual results[758]. - Significant estimates relate to mineral reserves, environmental obligations, and asset impairments, which could impact future cash flow estimates[759]. - The Company recognizes and measures assets and liabilities in business combinations based on estimated fair values, with independent appraisers engaged for material acquisitions[764].

Newmont Corporation (NEM) came out with quarterly earnings of $1.40 per share, beating the Zacks Consensus Estimate of $0.95 per share. This compares to earnings of $0.50 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 47.37%. A quarter ago, it was expected that this gold and copper miner would post earnings of $0.83 per share when it actually produced earnings of $0.81, delivering a surprise of -2.41%.Over the last four quart ...