Welcome to our dedicated page for Newmont news (Ticker: NEM), a resource for investors and traders seeking the latest updates and insights on Newmont 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.
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.
Newmont Corporation (NYSE: NEM) has appointed two senior operational leaders: Mia Gous as Senior Vice President for the Australia Region and Alex Bates as Senior Vice President of Workplace Responsibility. Gous brings 27 years of experience in mining, previously managing Boddington, Australia's largest gold mine. Bates has been with Newmont since 2015, focusing on workplace safety and equity. The appointments aim to enhance operational excellence and foster a safe, inclusive workplace environment.
Newmont Corporation (NYSE: NEM) reported strong second quarter 2022 results, producing 1.5 million gold ounces and generating $514 million in free cash flow. The company updated its full-year guidance to 6.0 million gold ounces at a CAS of $900 per ounce and AISC of $1,150 per ounce. Adjusted Net Income stood at $0.46 per share, impacted by rising costs and declining metal prices. The quarterly dividend remains at $0.55 per share, and Newmont has $475 million remaining from its $1 billion share repurchase program. The firm also completed the acquisition of Sumitomo's 5% interest in Yanacocha, boosting its ownership to 100%.
Newmont Corporation (NYSE: NEM) announced a quarterly dividend of $0.55 per share for Q2 2022, payable on September 22, 2022, to shareholders on record by September 8, 2022. Future dividends will be determined by the Board of Directors based on the company's financial performance, cash flow, and other relevant factors. Newmont is a leading producer of gold and other minerals, recognized for its strong governance and operational standards, operating in favorable mining jurisdictions across North America, South America, Australia, and Africa.
Newmont Corporation (NYSE: NEM) will announce its second quarter 2022 financial results on Monday, July 25, 2022, before market opening. A conference call is scheduled for 10 a.m. Eastern Time on the same day, accessible via a dedicated dial-in number. The call will also be available on the Company’s website. Newmont, the leading global gold producer, operates in North America, South America, Australia, and Africa. Its commitment to environmental, social, and governance practices positions it as a leader in value creation.
Newmont Corporation (NYSE: NEM) has signed a profit-sharing agreement with its workforce at the Peñasquito mine in Zacatecas, Mexico, ensuring continued operations. The agreement allows for uncapped profit-sharing bonuses up to 10%, with an immediate financial impact of $70 million, reflecting 2021 results. CEO Tom Palmer highlighted the cooperation with the National Union of Mining and the absence of operational interruptions. This agreement strengthens the relationship between Newmont and its workforce, contributing positively to the mine's future.
FAQ
What is the current stock price of Newmont (NEM)?
What is the market cap of Newmont (NEM)?
What is Newmont Corporation's primary business?
Where are Newmont's mining operations located?
What significant acquisitions has Newmont made recently?
How much gold is Newmont expected to produce in 2024?
Is Newmont listed in any major stock indices?
What other minerals does Newmont produce?
What are Newmont's plans after acquiring Newcrest?
How long are Newmont's gold reserves expected to last?
When was Newmont founded?
What are Newmont's core values?
