Welcome to our dedicated page for Newmont Corporation news (Ticker: NEM), a resource for investors and traders seeking the latest updates and insights on Newmont Corporation stock.
Newmont Corporation (symbol: NEM) is the world's leading gold company and a major producer of copper, silver, zinc, and lead. Newmont's impressive portfolio of assets is anchored across favorable mining jurisdictions in North America, South America, Australia, and Africa. As the only gold producer listed in the S&P 500 index, Newmont is widely recognized for its principled environmental, social, and governance practices. Founded in 1921 and publicly traded since 1925, Newmont has cemented its industry leadership through robust safety standards, superior execution, and technical proficiency.
Newmont's strategic acquisitions have significantly bolstered its position as the top gold miner globally. In 2019, Newmont purchased Goldcorp, and later that year, formed a joint venture with Barrick Gold to combine their Nevada mines. Most recently, in November 2023, Newmont acquired Newcrest Mining. These strategic moves have expanded Newmont's portfolio to include 17 wholly or majority-owned mines and interests in two joint ventures across the Americas, Africa, Australia, and Papua New Guinea.
Newmont is expected to produce approximately 6.9 million ounces of gold in 2024. Following the acquisition of Newcrest, Newmont plans to streamline its portfolio by selling higher-cost, smaller mines, which are forecasted to account for 20% of its sales in 2024. Alongside gold, Newmont also produces significant quantities of copper, silver, zinc, and lead as byproducts.
Newmont's commitment to value creation is evident in its long-term gold reserves, which are projected to last for about two decades as of December 2023. The company continually invests in innovative practices and sustainable developments, ensuring its operations support both economic growth and environmental care.
Newmont Corporation (NYSE: NEM) has received an upgrade from S&P Global Ratings, raising its issuer credit rating from BBB to BBB+ with a stable outlook. This upgrade is attributed to Newmont's strong balance sheet and disciplined capital allocation. In December 2021, the company issued the mining industry's first sustainability-linked bond worth $1 billion. Newmont reported $5 billion in consolidated cash and $8 billion in liquidity, with a net debt to adjusted EBITDA ratio of 0.2x. CEO Tom Palmer emphasized that the upgrade reflects the company's financial strength and its commitment to ESG principles.
Newmont Corporation (NYSE:NEM) has announced a definitive agreement to acquire properties in Tahltan Territory, British Columbia, from Skeena Resources Limited. The acquisition is contingent upon Skeena's acquisition of QuestEx Gold & Copper Ltd.. Newmont aims to support the Tahltan Stewardship Initiative, focusing on protecting lands important to the Tahltan Nation and the Iskut community, rather than for mineral development. This move reaffirms Newmont's commitment to sustainable practices and reconciliation with Indigenous communities.
Newmont Corporation (NYSE:NEM) has received approval from the Yukon and Canadian governments, after consultations with Yukon First Nations, to proceed with the Coffee Gold Project. This decision follows a recommendation from the Yukon Environmental Socioeconomic Assessment Board. The project is expected to generate nearly 700 jobs during peak construction and is positioned as a significant asset for the region's economic development. Newmont emphasizes its commitment to responsible mining and collaboration with local stakeholders throughout the project's advancement.
Newmont Corporation (NYSE: NEM) reported a slight decrease in gold Mineral Reserves for 2021, totaling 92.8 million ounces, down from 94.2 million at the end of 2020. The company expanded its reserves with the acquisition of Buenaventura's interest in Minera Yanacocha, adding 2.7 million ounces of gold and other significant resources. Over 90% of reserves are in top-tier jurisdictions, and the company maintains a gold reserve life of over 10 years. Notably, copper reserves stand at 15.1 billion pounds.
Exploration expenditures are projected at $250 million for 2022, focusing on near-mine expansions.
Newmont Corporation (NYSE: NEM) reported strong full-year results for 2021, producing 6.0 million attributable gold ounces and 1.3 million gold equivalent ounces. The company met its updated guidance with cash from operations of $4.3 billion and Free Cash Flow of $2.6 billion. Newmont returned $2.3 billion to shareholders, including a $0.55 per share dividend. The company ended the year with $5.0 billion in cash and improved its production outlook for 2022 to 6.2 million ounces. Additionally, it announced the acquisition of Buenaventura's interest in Minera Yanacocha.
Newmont Corporation (NYSE: NEM) has declared a $0.55 per share dividend for Q4 2021, payable on March 24, 2022, to shareholders of record by March 10, 2022. Future dividends will be determined at the Board's discretion based on the Company's financial performance, cash flow, and other relevant factors. Newmont is the leading gold producer, also mining copper, silver, and other metals, with operations in favorable jurisdictions worldwide.
Newmont Corporation (NYSE: NEM) has announced its acquisition of Buenaventura's 43.65% stake in Minera Yanacocha for
Newmont Corporation (NYSE:NEM) has agreed to relinquish 1,835 quartz mining claims, covering 88,707.5 net mineral acres, to support the Yukon government’s efforts to protect environmentally sensitive areas linked to the Peel Watershed Regional Land Use Plan. Newmont CEO Tom Palmer emphasized the company's commitment to sustainable mining and collaboration with First Nations. While historical exploration indicated potential for copper and gold mineralization, Newmont has not pursued active exploration in this region due to the Peel watershed plan.
Newmont Corporation (NYSE: NEM) will report its full year and fourth quarter 2021 financial results on February 24, 2022, before market opening. A conference call is scheduled for 10 a.m. ET on the same day, accessible via their website. Investors can call 855.209.8210 or 412.317.5213 for international inquiries. Replay options will be available after the call. Newmont is a leading gold producer and has a diversified portfolio in favorable mining jurisdictions across North America, South America, Australia, and Africa.
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