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) 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.
Newmont Corporation (NYSE: NEM) will report its third quarter 2022 financial results before the market opens on November 1, 2022. A conference call is scheduled for 10 a.m. Eastern Time the same day, available on the Company’s website. Interested parties can join by calling 833.927.1758 (or 929.526.1599 internationally) using the access code 420913. The third quarter results will also be made accessible in the Investor Relations section of Newmont’s website.
Newmont Corporation (NYSE: NEM) has announced that Nancy Buese will resign as Executive Vice President and Chief Financial Officer, effective November 1, to pursue another opportunity. Brian Tabolt, currently Vice President, Controller, and Chief Accounting Officer, will serve as interim CFO while the company conducts a global search for a permanent successor. Tom Palmer, CEO, praised Buese's leadership and expressed commitment to strengthening the Executive Leadership Team to support Newmont's future growth.
Glencore International AG has agreed to acquire Newmont Corporation's 18.75% stake in the MARA Project for
Newmont Corporation (NYSE: NEM) has announced key executive appointments aimed at strengthening technical and operational leadership. Aaron Puna will join as Executive Vice President and Chief Technology Officer in January 2023, bringing extensive experience from Anglo American in Chile, where he achieved significant copper production milestones. Additionally, Mark Rodgers will transition to Senior Vice President – South America, while Bernard Wessels will become Senior Vice President – North America, both effective in October. These changes aim to bolster Newmont's global strategy and operations.
Newmont Corporation (NYSE: NEM) has announced a delay in the full-funds investment decision for the Yanacocha Sulfides project in Peru, rescheduled to the second half of 2024. The decision comes after a comprehensive review of the project's scope amid challenging market conditions, including inflation and supply chain disruptions. Dean Gehring has been appointed as Chief Development Officer for Peru to lead this initiative. Newmont aims to continue advanced engineering and procurement activities to mitigate risks and anticipates adding 525,000 gold equivalent ounces annually once the project is operational.
Newmont Corporation (NYSE: NEM) has released its inaugural Taxes and Royalties Contribution Report, aimed at enhancing transparency regarding its contributions to host communities and governments. In 2021, the company made direct economic contributions totaling $10.8 billion, which included $1.9 billion in taxes and royalties. Newmont's President and CEO, Tom Palmer, emphasized the importance of transparency in building trust with stakeholders.
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