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Gold is outperforming the S&P 500 in 2024. Shares of gold miner Newmont (NEM -1.69%) fell 14.7% on Thursday after the company reported thirdquarter 2024 results. The sell-off may seem strange, given gold prices are still hovering around an all-time high. Here's what's driving the sell-off in the dividend stock and why there may be better options for investing in gold than mining stocks. Newmont couldn't live up to the hype 2024 has been a phenomenal year for gold stocks and most mining stocks. In fact, unti ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________to__________ Commission File Number: 001-31240 NEWMONT CORPORATION (Exact name of registrant as specified in its charter) Dela ...

Financial Data and Key Metrics Changes - Newmont reported adjusted EBITDA of $2 billion, driven by sustained gold prices and strong quarterly production [20] - Adjusted net income increased to $0.81 per diluted share, up $0.09 compared to the second quarter [20] - Generated $1.6 billion in cash flow from operations and $760 million in free cash flow [20][21] - Retired $233 million in debt and returned $786 million to shareholders through share repurchases and dividends [7][24] Business Line Data and Key Metrics Changes - Produced nearly 1.7 million ounces of gold and 430,000 gold equivalent ounces from other metals, including 37,000 tons of copper [5] - Ahafo South achieved a nearly 15% increase in gold production over the second quarter [15] - Anticipated production of 1.8 million ounces of gold in the fourth quarter, an approximately 8% increase over the third quarter [11] Market Data and Key Metrics Changes - All-in sustaining costs for the fourth quarter are expected to be approximately $14.75 per ounce, representing an 8% reduction compared to the third quarter [26] - Production from Nevada Gold Mines and Pueblo Viejo is expected to significantly increase in the fourth quarter, crucial as these sites comprise over 20% of attributable gold production for 2024 [25] Company Strategy and Development Direction - Focus on strengthening safety culture and improving risk management systems following recent fatalities [2][27] - Committed to generating at least $2 billion in gross proceeds from the divestment of non-core assets, with significant progress made [6][28] - Emphasis on optimizing the go-forward portfolio of 11 managed operations and three projects in execution, with a focus on expanding margins and generating strong returns [29][66] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in cost expectations due to inflation and integration issues, particularly at Lihir, Brucejack, and Cadia [31][37] - Anticipated production from the core portfolio in 2025 is expected to be around 5.6 million ounces, reflecting adjustments from Lihir and Brucejack [34][66] - Management remains focused on disciplined capital allocation and ensuring that any new projects meet cost and return expectations [58] Other Important Information - Newmont has approved an additional $2 billion share repurchase program, bringing total authorization to $3 billion [23] - The company is advancing three key projects: Tanami expansion, Ahafo North, and Panel Caves at Cadia [17][18] Q&A Session Summary Question: Can you reflect on the cost profile and expectations for unit costs? - Management noted a strong correlation between gold prices and production costs, with expectations that costs may ease if gold prices do [31][32] Question: What is the new production guidance for 2025? - Management indicated that production from the core portfolio is expected to be around 5.6 million ounces, reflecting adjustments from Lihir and Brucejack [34] Question: Can you clarify the significant changes in cost expectations? - Management explained that higher costs were driven by labor inflation and integration challenges, particularly at Lihir and Cadia [36][39] Question: What is the outlook for labor inflation? - Management indicated that labor costs have escalated beyond initial expectations, particularly for contracted services [60] Question: What is the status of the Wafi project in terms of capital allocation? - Management confirmed that Wafi is competing for capital alongside other projects, with a disciplined approach to project execution [58] Question: What is the long-term production outlook? - Management stated that the long-term average production from the portfolio is expected to be around 6 million ounces, with a focus on margin expansion [66]

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government. S ...

Newmont Corporation (NEM) reported third-quarter 2024 earnings from continuing operations of 76 cents per share compared with 20 cents in the year-ago quarter. Barring one-time items, adjusted earnings were 81 cents per share, up from 36 cents reported in the prior-year quarter. It lagged the Zacks Consensus Estimate of 83 cents. Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The company’s revenues for the third quarter were $4,605 million, up around 84.7% year over year. The figure ...

Newmont Corporation (NEM) came out with quarterly earnings of $0.81 per share, missing the Zacks Consensus Estimate of $0.83 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -2.41%. A quarter ago, it was expected that this gold and copper miner would post earnings of $0.53 per share when it actually produced earnings of $0.72, delivering a surprise of 35.85%. Over the last four qua ...

NYSE: NEM, ASX: NEM, TSX: NGT, PNGX: NEM Exhibit 99.1 Newmont Reports Third Quarter 2024 Results DENVER, October 23, 2024 – Newmont Corporation (NYSE: NEM, ASX: NEM, TSX: NGT, PNGX: NEM) (Newmont or the Company) today announced third quarter 2024 results and declared a third quarter dividend of $0.25 per share. "In the third quarter, Newmont delivered 2.1 million gold equivalent ounces and generated $760 million in free cash flow from our world-class portfolio," said Tom Palmer, Newmont's President and Chie ...

Core Viewpoint - Newmont Corporation is expected to report strong third-quarter 2024 results, driven by higher gold prices and increased production volumes [1][6][8]. Financial Performance - The Zacks Consensus Estimate for third-quarter 2024 earnings is 75 cents per share, reflecting a 108.3% year-over-year increase [2]. - Revenue estimates for the same quarter stand at $4.07 billion, indicating a 63.4% increase from the previous year [2]. - Newmont's attributable gold production is projected at 1.72 million ounces for the September quarter, suggesting a 7.3% sequential rise [6]. Market Conditions - Gold prices have reached record highs, with an average realized price for Newmont estimated at $2,476 per ounce, a sequential rise of 5.5% [8]. - The gold market has been buoyed by a 50-basis-point interest rate cut by the U.S. Federal Reserve and geopolitical tensions, leading to a 4% gain in gold prices for Q3 2024 and a 32% increase year-to-date [8]. Cost and Efficiency - Newmont is expected to benefit from lower unit costs due to higher production volumes, with expectations of declining unit costs in the third and fourth quarters [9]. Stock Performance and Valuation - Newmont's shares have increased by 39.2% year-to-date, underperforming the Zacks Mining – Gold industry's 43.1% rise but outperforming the S&P 500's 22.9% increase [10]. - The company is currently trading at a forward 12-month earnings multiple of 16.16X, slightly above the peer group average of 15.82X [12]. Strategic Positioning - Newmont's acquisition of Newcrest Mining Limited has created a leading portfolio expected to deliver significant value and synergies [14]. - The company maintains a strong liquidity position and generates substantial cash flows, enabling it to fund growth projects and enhance shareholder value [14]. Investment Outlook - Investing in Newmont stock ahead of its earnings announcement is seen as a compelling opportunity due to its strong market position, financial health, and favorable gold market conditions [15].