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) reported its first quarter 2023 results, producing 1.27 million gold ounces and achieving a dividend of $0.40 per share, payable on June 15, 2023. The company faced challenges with a net loss of $45 million in Free Cash Flow due to lower production volumes and heightened global costs. However, it generated $481 million in cash from operations and had a net income of $363 million. Newmont's expected full-year production is between 5.7 and 6.3 million ounces of attributable gold. The company reported a net debt to adjusted EBITDA ratio of 0.6x and highlighted its commitment to sustainability through the publication of its annual reports. The board indicated an annualized dividend payout range of $1.40 to $1.80 per share for 2023.
Newmont Corporation (NYSE: NEM) will release its first quarter 2023 operations and financial results on April 27, 2023. A conference call is scheduled for 10 a.m. EST (8:00 a.m. MST) on the same day, available via the Company’s website. Investors can dial in at 833.470.1428 or 404.975.4839 internationally, using access code 034257. The call will be archived on Newmont's website for later access. Newmont is recognized as the world’s leading gold company, also producing copper, silver, zinc, and lead, with operations in favorable jurisdictions worldwide. It is the only gold producer listed on the S&P 500 Index, known for its strong environmental, social, and governance practices.
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