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 submitted a revised non-binding proposal to acquire Newcrest Mining Limited. This Best and Final Proposal offers Newcrest shareholders 0.400 Newmont shares for each Newcrest share held and allows a special dividend of up to $1.10 per share. If accepted, Newcrest shareholders would own approximately 31% of the combined entity. Newmont aims to enhance its portfolio, increasing annual copper production and reserves significantly. The plan seeks to leverage Newmont's sustainable practices to deliver significant annual synergies, similar to its past success with Goldcorp, which realized over $1 billion annually in synergies. Due diligence is to be completed within four weeks, and exclusivity for negotiations has been indicated by the Newcrest Board.
Newmont Corporation (NYSE: NEM) has announced the successful sale of its shares in Triple Flag Precious Metal Corp., generating net proceeds of $179 million. This move is part of Newmont's strategy to streamline its equity portfolio and enhance cash flow. Since acquiring Goldcorp in 2019, Newmont has raised over $2 billion from non-core asset sales, strengthening its investment-grade balance sheet. The company is focused on maintaining a sustainable portfolio of long-life assets in premier mining jurisdictions.
Newmont Corporation (NYSE: NEM) reported a notable increase in gold Mineral Reserves, reaching 96.1 million ounces in 2022, up from 92.8 million ounces in 2021, marking a 3.6% growth. The boost is attributed to significant discoveries, including 8.6 million ounces from various operations and enhanced ownership stakes, notably in Yanacocha. The company emphasized its focus on extending mine life and optimizing exploration investments, with projected expenditures of $200 million for 2023. Newmont's production pipeline appears robust, with an average annual gold output of approximately 6 million ounces over the next decade.
Newmont Corporation (NYSE: NEM) reported strong fourth quarter and full year 2022 results, producing 6.0 million gold ounces and generating $1.1 billion in free cash flow after significant reinvestment. The company achieved its production guidance and was recognized in the 2022 Dow Jones Sustainability Index for ESG commitment. For 2023, it expects gold production guidance between 5.7 and 6.3 million ounces with sustaining costs projected at $1,150 to $1,250 per ounce. Newmont also established a dividend payout range of $1.40 to $1.80 per share, declaring a fourth quarter dividend of $0.40 per share, reflecting strong financial performance and commitment to shareholders.
Newmont Corporation (NYSE: NEM) has announced Natascha Viljoen as the new Executive Vice President and Chief Operating Officer, pending completion of her notice period of up to 12 months. With over 30 years of industry experience, including her CEO role at Anglo American's platinum division, Viljoen is expected to enhance Newmont’s operational capabilities. Current COO Rob Atkinson will transition to a new role focused on strategic initiatives. CEO Tom Palmer expressed confidence in both leaders' abilities to strengthen the company's position as a sustainable gold mining leader.
Newmont Corporation (NYSE: NEM) has submitted a non-binding proposal to acquire 100% of Newcrest Mining Limited through a scheme of arrangement. The proposal offers 0.380 Newmont shares for each Newcrest share, resulting in a combined ownership of 30% Newcrest and 70% Newmont. This acquisition aims to create a powerful entity among top gold producers, focusing on sustainable mining practices. The transaction is subject to due diligence, an implementation agreement, and approval from Newcrest's Board of Directors. Newmont emphasizes its commitment to shareholder interests amidst ongoing discussions.
Newmont Corporation (NYSE: NEM) will announce its 2023 guidance and fourth quarter 2022 results on February 23, 2023. The company aims to align its guidance release with industry practices and incorporate relevant macroeconomic conditions. A conference call will be held at 10 a.m. EST that day. Investors can access the call via the company’s website. Newmont, recognized as a leader in gold production and committed to high governance standards, operates globally across favorable mining jurisdictions.
Newmont Corporation (NYSE: NEM) reported stable third-quarter performance with 1.49 million ounces of attributable gold production, and $466 million in cash from operations. The company remains on track to meet full-year guidance of 6 million ounces of gold production. However, it recorded Free Cash Flow of $(63) million, influenced by one-time working capital payments. Newmont declared a $0.55 per share dividend and announced a $1 billion share repurchase program, with $475 million remaining. The Yanacocha Sulfides project faced delays, while the company advanced several near-term projects.
Newmont Corporation (NYSE: NEM) has declared a $0.55 dividend per share for Q3 2022, payable on December 29, 2022, to shareholders on record by December 8, 2022. This dividend reflects the company's commitment to returning cash to shareholders, totaling nearly $4 billion since adopting its dividend framework. Future dividend payments will depend on the Board's discretion based on financial performance, cash flow, and other relevant factors.
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