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Newmont Announces Offering of Notes to Repay Outstanding Borrowings Under Revolving Credit Facility
Businesswire· 2024-03-04 13:41
DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) (“Newmont” or the “Company”) and Newcrest Finance Pty Limited, a wholly owned subsidiary of Newmont (“Newcrest Finance” and, together with Newmont, the “Issuers”) announced today that they have commenced a private offering (the “Offering”) of their notes due 2026 and notes due 2034 (together, the “Notes”). The Notes will be guaranteed on an unsecured senior basis by Newmont USA Limited, a wholly owned subsidiary of Newmo ...
Newmont(NEM) - 2023 Q4 - Annual Report
2024-02-28 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 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) | Delaware | ...
Is Most-Watched Stock Newmont Corporation (NEM) Worth Betting on Now?
Zacks Investment Research· 2024-02-28 15:01
Newmont Corporation (NEM) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this gold and copper miner have returned -13.5% over the past month versus the Zacks S&P 500 composite's +4% change. The Zacks Mining - Miscellaneous industry, to which Newmont belongs, has lost 7.3% over this period. Now the key question is: Where could the stock be headed in the n ...
Newmont: Dividend Cut Is Likely Just Noise
Seeking Alpha· 2024-02-23 02:21
Hello my names is james,I'm photographer. Investment thesis Gold has demonstrated a notable bullish run in 2023 due to the intensifying global macroeconomic uncertainty coupled with geopolitical issues. Such an environment is very favorable for the world's largest gold mining company, Newmont Corporation (NYSE:NEM). My analysis suggests that gold prices are likely to stay higher for longer as the level of macroeconomic and geopolitical uncertainties escalate. Newmont has a firm track record of success, ...
Newmont(NEM) - 2023 Q4 - Earnings Call Transcript
2024-02-22 20:07
Newmont Corporation (NYSE:NEM) Q4 2023 Earnings Conference Call February 22, 2024 10:00 AM ET Company Participants Thomas Palmer - President, CEO & Director Natascha Viljoen - EVP & COO Karyn Ovelmen - EVP & CFO Conference Call Participants Joshua Wolfson - RBC Capital Markets Lawson Winder - Bank of America Merrill Lynch Anita Soni - CIBC Tanya Jakusconek - Scotiabank Carey MacRury - Canaccord Genuity Daniel Major - UBS Greg Barnes - TD Securities Operator Good morning, and welcome to Newmont's Fourth Quar ...
Newmont Completes COO Transition
Businesswire· 2024-02-22 16:00
DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) announces today the completion of its Chief Operating Officer (COO) transition following a five-month handover period. Beginning next week, Rob Atkinson will transition all of his remaining responsibilities to Newmont’s new COO, Natascha Viljoen. He will then officially step down from the Newmont Executive Leadership Team, effective May 2, 2024. “Rob Atkinson has played a pivotal leadership role in Newmont in recent y ...
Newmont Corporation (NEM) Q4 Earnings Miss Estimates
Zacks Investment Research· 2024-02-22 14:15
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 ...
Newmont Announces 2023 Mineral Reserves for Integrated Company of 136 Million Gold Ounces with Robust Copper Optionality of 30 Billion Pounds
Businesswire· 2024-02-22 12:10
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 ...
Newmont Reports Fourth Quarter and Full Year 2023 Results; Provides 2024 Outlook for Integrated Company
Businesswire· 2024-02-22 12:05
Core Viewpoint - Newmont Corporation reported its fourth quarter and full year 2023 results, highlighting a transformational year with the completion of the Newcrest acquisition and a focus on integrating and optimizing its Tier 1 asset portfolio for future growth [2][3][34]. 2023 Results - Newmont completed the acquisition of Newcrest Mining Limited on November 6, 2023, establishing itself as the world's leading gold company with significant copper optionality [3]. - The company delivered $1.4 billion in dividends to shareholders in 2023 [3]. - Gold production totaled 5.5 million ounces, with an additional 891 thousand gold equivalent ounces from other metals, aligning with revised guidance [3]. - Gold Costs Applicable to Sales (CAS) per ounce were reported at $1,050, while All-In Sustaining Costs (AISC) per ounce were $1,444, both in line with revised guidance [3]. - Newmont generated $2.8 billion in cash from continuing operations, reporting a net loss of $2.5 billion primarily due to impairment and reclamation charges [3][9]. - Adjusted Net Income was $1.61 per share, with Adjusted EBITDA of $4.2 billion for the full year [3][22]. 2024 Outlook - Newmont's production guidance for 2024 is approximately 6.9 million gold ounces, supported by 5.6 million ounces from its Tier 1 portfolio [4][36]. - Gold CAS is expected to remain at $1,050 per ounce, with AISC projected at $1,400 per ounce for the total portfolio [4][36]. - The company plans to invest approximately $1.8 billion in sustaining capital and $1.3 billion in development capital in 2024 [4][41]. - Key near-term development projects include Tanami Expansion 2, Ahafo North, Cadia Block Caves, and Cerro Negro Expansion 1 [4][27]. Financial Performance - Average realized gold price for Q4 2023 was $2,004 per ounce, a 14% increase from the prior year [11][14]. - Revenue for Q4 2023 increased 24% to $4.0 billion, driven by higher sales volumes and gold prices [15]. - Adjusted Net Income for Q4 2023 was $486 million, or $0.50 per share, reflecting improved sales volumes and realized prices [16]. - Free Cash Flow for the year decreased to $88 million, down from $1.1 billion in the prior year [24]. Production and Cost Metrics - Attributable gold production for 2023 decreased 7% to 5.55 million ounces compared to the previous year [18]. - Gold CAS per ounce increased 13% to $1,050, while AISC per ounce rose 19% to $1,444 [19]. - Attributable GEO production from other metals decreased 30% to 891 thousand ounces, primarily due to the Peñasquito labor strike [19]. Capital Expenditures - Capital expenditures for 2023 increased 25% to $2.7 billion, primarily due to higher sustaining capital spend [23]. - Development capital expenditures were focused on projects such as Tanami Expansion 2 and Ahafo North [23][41]. Strategic Focus - Newmont's go-forward portfolio emphasizes Tier 1 assets, with plans to divest six non-core assets [34]. - The company aims to achieve $500 million in synergies from the Newcrest transaction by the end of 2025 [4][34].
Newmont Announces Balanced Capital Allocation Strategy and Return of Capital Framework Supported by Portfolio of Tier 1 Operations and Projects*
Businesswire· 2024-02-22 12:00
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 ...