Newmont Corporation (NEM) reported first-quarter 2025 earnings from continuing operations of $1.68 per share, up from 15 cents in the year-ago quarter. Barring one-time items, adjusted earnings were $1.25 per share compared with 55 cents reported in the prior- year quarter. It topped the Zacks Consensus Estimate of 84 cents. NEM's revenues for the first quarter were $5,010 million, up 24.5% from $4,023 million reported in the prior- year quarter. The figure beat the Zacks Consensus Estimate of $4,464.5 mill ...

Newmont Corporation NEM, the world's largest publicly listed gold producer, reported robust first-quarter 2025 earnings following the conclusion of the year-long portfolio optimization effort. The company posted a net income of $1.9 billion and adjusted EBITDA of $2.6 billion, significantly surpassing the prior year's performance. Adjusted net income was $1.25 per share, aligning with analysts' expectations. Cost-wise, the company saw Gold All-In Sustaining Costs rise to $1,651 per ounce, a 13% increase due ...

Financial Data and Key Metrics Changes - Newmont Corporation reported record first-quarter free cash flow of $1.2 billion and adjusted EBITDA of $2.6 billion, driven by strong operational performance and favorable gold prices [9][30][39] - The company generated $2 billion in cash flow from operations, marking a significant increase compared to previous quarters [9][30] - Gold all-in sustaining costs remained in line with full-year guidance at $1,651 per ounce for the first quarter [30] Business Line Data and Key Metrics Changes - In the first quarter, Newmont produced 1.5 million ounces of gold and 35,000 tonnes of copper, consistent with full-year guidance [9][39] - The divestment program resulted in over $2.5 billion in after-tax cash proceeds, enhancing the company's focus on its core operations [11][39] - The company anticipates a strong finish to the year from Boddington, with gold production expected to be approximately 53% weighted to the second half of the year [21] Market Data and Key Metrics Changes - The rise in gold prices has positively impacted cash flow and operational performance, with unprecedented volatility in global financial and commodity markets being closely monitored [10][39] - The company is focused on managing variables within its control amidst evolving tariff situations [10] Company Strategy and Development Direction - Newmont's priorities for 2025 include strengthening safety culture, stabilizing managed operations, and executing capital returns [5][13] - The company is committed to maintaining a strong balance sheet and returning capital to shareholders through predictable dividends and ongoing share repurchases [13][37] - The focus remains on delivering the potential of the 11 managed operations and three projects in execution, with a disciplined capital allocation strategy [12][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2025 commitments and emphasized the importance of safety, cost, and productivity performance irrespective of gold price fluctuations [56] - The company is actively monitoring geopolitical risks and maintaining strong relationships with governments in its operating jurisdictions [112] Other Important Information - Newmont completed its divestment program, allowing for a sharper focus on core operations and a significant reduction in debt [12][39] - The company has a robust share buyback program in place, with $755 million repurchased so far in 2025 [37] Q&A Session Summary Question: Lihir cash cost profile and mining for margin - Management highlighted efforts to configure the mine for sustainable performance and indicated that Lihir will meet its full-year cost guidance despite a $100 million non-cash impact from inventory adjustments [42][46] Question: Share buyback pace and capital return - Management confirmed ongoing share buybacks, supported by elevated gold prices and divestiture proceeds, with plans to continue this through the remainder of the year [48][50] Question: Impact of high gold prices on business management - Management stated that the focus remains on delivering safety, cost, and productivity performance, regardless of gold price fluctuations, while benefiting from the current high prices [54][56] Question: Progress on Ahafo North project - Management reported that Ahafo North is tracking well, with significant milestones achieved and a focus on safety during the high construction period [80][86] Question: Concerns about geopolitical risks - Management emphasized the importance of operating in stable jurisdictions and maintaining strong government relationships, with no immediate concerns regarding risks [112] Question: Future project considerations - Management indicated that Red Chris is a prime candidate for future capital allocation, with ongoing feasibility studies and engagement with local governments [60][104]

Financial Performance - Net income from continuing operations attributable to Newmont stockholders was $1,891 or $1.68 per diluted share, an increase of $1,725 from the prior-year quarter[14]. - Adjusted net income was reported at $1,404 or $1.25 per diluted share, an increase of $0.70 per diluted share from the prior-year quarter[14]. - Adjusted EBITDA reached $2,629, reflecting a 55% increase from the prior-year quarter[14]. - Net cash provided by operating activities was $2,031, a 162% increase from the prior year, with free cash flow of $1,205[14]. - Cash dividends declared per common share remained steady at $0.25 for the period ended March 31[14]. Production and Sales - Consolidated gold ounces produced were 1,460 thousand, while sold ounces were 1,442 thousand, showing a decrease from 1,619 thousand produced and 1,599 thousand sold in the prior year[10]. - Average realized gold price per ounce increased to $2,944 from $2,090 in the prior year, representing a significant rise[10]. - Attributable production included 1.5 million ounces of gold and 348 thousand attributable gold equivalent ounces from co-products[14]. Liquidity and Cash Position - The company ended the quarter with $4.7 billion in consolidated cash and $8.8 billion in total liquidity[14]. - The company completed the sale of the CC&V, Musselwhite, and Éléonore reportable segments for total proceeds of $1,860 million[14]. Market and Currency Risks - As of March 31, 2025, the short-term gold price assumption is $2,860 per ounce, while the long-term assumption is $1,900 per ounce[293]. - A hypothetical 10% adverse movement in local currency exchange rates would result in an approximate $76 increase to costs applicable to sales per ounce for the three months ended March 31, 2025[297]. - The average provisional price for gold sales is $3,127 million, with a potential effect of a 10% change resulting in a $61 million impact[300]. - The company has significant operations in multiple countries, including Canada, Mexico, and Australia, which exposes it to foreign currency exchange rate fluctuations[295]. - The fair value of the Cadia Power Purchase Agreement cash flow hedge could decrease by approximately $37 due to a hypothetical 10% adverse movement in forward electricity rates[304]. - The foreign currency cash flow hedges could see a decrease in fair value of approximately $211 from a hypothetical 10% adverse movement in AUD and CAD exchange rates[304]. Credit and Interest Rate Risks - The company’s fixed rate debt does not expose it significantly to interest rate risk, but there is fair value risk if long-term debt is repurchased or exchanged prior to maturity[294]. - The company mitigates credit risk by entering into derivatives with high credit quality counterparties and monitoring their financial conditions[306]. - Market liquidity risk is managed by spreading out the maturity of derivatives over time and ensuring counterparties cannot require immediate settlement except under specific default conditions[307].

Financial Performance - Newmont reported a net income of $1.9 billion, or $1.68 per diluted share, for Q1 2025, an increase of $488 million from the prior quarter[8]. - Adjusted net income for the quarter was $1.4 billion, or $1.25 per diluted share, compared to $1.6 billion, or $1.40 per diluted share, in the prior quarter[9]. - The company reported a net income attributable to Newmont stockholders for Q1 2025 was $1,891 million, resulting in an adjusted net income of $1,404 million, or $1.25 per diluted share[41]. - Net income for FY 2024 was $3,381 million, with Q4 contributing $1,421 million[37]. - Net income attributable to Newmont stockholders for FY 2024 was $3.348 billion, with Q4 net income at $1.403 billion, reflecting strong financial performance[32]. Cash Flow and Liquidity - The company generated a record first quarter free cash flow of $1.2 billion, a decrease of 26% from the previous quarter[11]. - The company maintained a strong balance sheet, ending the quarter with $4.7 billion in cash and $8.8 billion in total liquidity, with a net debt to adjusted EBITDA ratio of 0.3x[11]. - Cash from operations before working capital for FY 2024 was $7,343 million, with Q4 at $2,398 million[37]. - Net cash provided by operating activities for FY 2024 was $6,363 million, with Q4 at $2,511 million[37]. - As of March 31, 2025, the company's net debt decreased to $3.221 billion from $5.308 billion at December 31, 2024, reflecting a reduction of approximately 39.4%[50]. Production and Sales - Attributable gold production was 1.5 million ounces, primarily from the Tier 1 Portfolio, with an average realized gold price of $2,944 per ounce, up $301 from the prior quarter[7]. - Attributable gold ounces sold in Q1 2025 were 1,581, with a total of 6,471 ounces sold year-to-date[28]. - Gold sold in Q1 2025 was 1,442 thousand ounces, down from 1,599 thousand ounces in Q1 2024, indicating a decrease of 9.8%[53]. - Total gold sales for the first quarter of 2025 reached 1,690 thousand ounces, with an all-in sustaining cost (AISC) of $1,439 per ounce[57]. - The company expects to sell approximately 5,175 thousand ounces of gold in 2025, with projected AISC of $1,620 per ounce[61]. Costs and Expenses - Gold costs applicable to sales (CAS) per ounce increased 12% to $1,227 compared to the prior quarter, while all-in sustaining costs (AISC) per ounce rose 13% to $1,651[8]. - The costs applicable to sales per ounce of gold sold increased to $1,227 in Q1 2025 from $1,057 in Q1 2024, representing a rise of 16.1%[53]. - The total all-in sustaining costs per ounce for gold in Q1 2025 was $1,651, compared to $1,442 in Q1 2024, marking an increase of 14.5%[56]. - Total costs applicable to sales for gold in Q1 2025 were $1.769 billion, compared to $1.690 billion in Q1 2024, reflecting an increase of 4.7%[53]. - The company reported a total gold by-product AISC of $1,319 per ounce in Q1 2025, a decrease of 4.5% from the previous quarter[29]. Divestitures and Investments - Newmont completed its divestiture program, generating over $2.5 billion in cash proceeds net of tax impacts in 2025, with total gross proceeds expected to reach up to $4.3 billion[5]. - The company has completed the divestment of all non-core operations and its 70% interest in the Havieron project[23]. - Newmont plans to spend $800 million on reclamation activities in 2025, with $600 million allocated specifically for water treatment plants at Yanacocha[26]. - The sale of the Akyem operation is expected to generate up to $1.0 billion, while the Porcupine operation sale could yield up to $425 million, both closed on April 15, 2025[27]. - The company is focusing on divestiture programs for non-core assets, including Telfer and CC&V, which have been closed prior to March 31, 2025[29]. Future Outlook and Guidance - Newmont remains on track to meet its 2025 guidance, targeting total attributable gold production of 5.9 million ounces[15]. - 2025 guidance assumes gold prices at $2,500/oz, copper at $9,370/tonne, and silver at $30/oz, with an estimated consolidated adjusted effective tax rate of 34%[21]. - The company anticipates continued growth in production and pricing for gold and copper in the upcoming quarters[28]. - The company expects to sell approximately 5,175 thousand ounces of gold in 2025, with projected AISC of $1,620 per ounce[61]. - Advanced projects and exploration costs for 2025 are projected to be $200 million, indicating ongoing investment in future growth[61]. Shareholder Returns - The company delivered $1.0 billion in total returns to shareholders through share repurchases and dividends since the start of the year[5]. - The share repurchase program is authorized for up to $2.0 billion over 24 months, subject to market conditions and other factors[80]. - Future dividends beyond June 20, 2025, have not yet been declared, and their payment will depend on financial results and market conditions[79]. Sustainability and Corporate Responsibility - Newmont's global Closure Strategy aims to create sustainable legacies post-mining, with $95 million spent on reclamation activities in Q1 2025[26]. - The company is committed to sustainable and responsible mining practices, aiming to create value and improve lives[75].

Alastair Still, P.Geo., the Director of Technical Services of the Company, is a qualified person as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and subpart 1300 of Regulation S-K ("SK1300") and has reviewed and approved the scientific and technical information contained herein. Fourth Quarter 2024 Results March 20, 2025 goldroyalty.com / NYSE: GROY Disclaimer Cautionary Note Regarding Forward-Looking Statements This presentation includes ...

Gold Royalty Corp. (NYSE:GROY) Q4 2024 Earnings Conference Call March 20, 2025 11:00 AM ET Company Participants David Garofalo - Chairman & CEO Andrew Gubbels - CFO Jackie Przybylowski - VP, Capital Markets Peter Behncke - Director, Corporate Development & IR Conference Call Participants Heiko Ihle - H.C. Wainwright Eric Winmill - Scotiabank Operator Welcome to the Gold Royalty Corp. Fourth Quarter 2024 Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After to ...

Alluvial Gold Research offers in-depth research on my favorite miners ranked in order to aid in positioning in the most undervalued miners with upcoming catalysts to drive portfolio outperformance. Subscribers also get access to my current portfolios and buy/sell alerts as well as the following:Analyst’s Disclosure: I/we have a beneficial long position in the shares of AEM, AEM:CA, AAUC:CA, AAUCF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my ...

Core Insights - Sirios Resources Inc. has announced positive results from its Fall-Winter 2024-25 drilling program at the Cheechoo gold project, validating its new vision for the project which includes potential for both open-pit and underground mining [1][2][9] Drilling Program Highlights - The drilling program consisted of nine holes completed between November 2024 and February 2025, totaling 3,347 meters drilled [7] - Consistent gold mineralization was intercepted in all drill holes, confirming the geological team's predictions [2] Assay Results - Significant assay results include: - 13.48 g/t Au over 14.6 m, including 123.94 g/t Au over 1.0 m (CH25-321) [4] - 56.41 g/t Au over 2.0 m, including 110.65 g/t Au over 1.0 m (CH25-317E) [4] - 83.20 g/t Au over 1.1 m (CH25-317E) [4] - 1.92 g/t Au over 34.0 m, including 20.52 g/t Au over 1.0 m (CH25-325) [4] Geological Model Development - The geological team is developing a new model based on the 2024 data review and recent drill results, which will lead to an upcoming Mineral Resource Estimate (MRE) update [2] Cheechoo Gold Deposit Characteristics - The Cheechoo gold deposit is characterized by multiple gold-enriched zones within a tonalite intrusion, suggesting the presence of additional high-grade zones beyond the current MRE boundaries [8] - The most recent MRE reported indicated resources of 1.4 million ounces at an average grade of 0.94 g/t Au and inferred resources of 500,000 ounces at an average grade of 0.73 g/t Au [12] Location and Strategic Importance - The Cheechoo property is located less than 15 km from Newmont's Éléonore gold mine, indicating its strategic position within a promising mining region [9]

Core Points - A class action lawsuit has been filed against Newmont Corporation in the United States District Court for the District of Colorado on behalf of investors who purchased Newmont securities between February 22, 2024, and October 23, 2024 [1] - Investors have until April 1, 2025, to apply to be appointed as lead plaintiff in the lawsuit [1] Allegations - The complaint alleges that during the class period, defendants made false and misleading statements regarding Newmont's revenue outlook and its ability to increase gold and mineral production through operational improvements [3] - It is claimed that the defendants provided materially flawed statements of confidence and growth projections that did not consider critical variables [3]