Newmont Corporation reported its second quarter results for 2025, highlighting a net income of $2.1 billion, or $1.85 per diluted share, which is an increase compared to the previous quarter. The company produced approximately 1.5 million attributable gold ounces and generated a record quarterly free cash flow of $1.7 billion. Additionally, Newmont announced a $3.0 billion share repurchase program and declared a dividend of $0.25 per share, payable on September 29, 2025. The company maintains a strong balance sheet with $6.2 billion in cash and a net debt to adjusted EBITDA ratio of 0.1x.
The company’s performance was bolstered by a favorable average realized gold price of $3,320 per ounce, despite a slight decrease in production from the previous quarter. Newmont's operating cash flow was $2.4 billion, with a significant return of capital to shareholders totaling $1.0 billion since the last earnings call. The company remains on track to meet its 2025 guidance, with expectations for increased production in the second half of the year, particularly from its non-managed joint ventures and core operations.
linkJul 24, 2025 16:03:16
Karyn F. Ovelmen has resigned as Chief Financial Officer of Newmont Corporation, effective July 11, 2025. Her resignation was not related to any disagreements regarding the company's operations or financial practices. The company is currently searching for a permanent successor, while Peter Wexler, the Executive Vice President and Chief Legal Officer, will serve as interim CFO until a replacement is appointed.
Ovelmen will receive six months of her base salary and medical insurance as part of a separation agreement, which also includes a general release of claims against the company. Wexler, who joined Newmont in March 2024, brings over three decades of corporate experience and will continue his role as Chief Legal Officer during his interim tenure. Any potential supplemental compensation for his interim CFO role has yet to be determined.
linkJul 14, 2025 17:00:56
Newmont Corporation has announced the promotion of Natascha Viljoen to President and Chief Operating Officer. Viljoen, who has been serving as the Chief Operating Officer since 2023, will continue to report to Chief Executive Officer Tom Palmer. This change is intended to enhance the company's focus on operational delivery and improve costs and productivity following the recent acquisition of Newcrest.
Natascha Viljoen has a background as the Chief Executive Officer of Anglo American Platinum and holds degrees in engineering and business. The leadership transition aims to position Newmont effectively to meet its commitments and support its stakeholders, including teams, communities, and shareholders. Newmont is recognized as a leading gold producer and is committed to sustainable and responsible mining practices.
linkMay 02, 2025 16:39:55
Newmont Corporation has announced its first quarter 2025 results, reporting a net income of $1.9 billion and adjusted net income of $1.25 per diluted share. The company produced 1.5 million attributable gold ounces and generated a record free cash flow of $1.2 billion. Additionally, Newmont completed its non-core divestiture program, generating over $2.5 billion in after-tax cash proceeds in the first half of 2025, with total gross proceeds expected to reach up to $4.3 billion from these sales. The company declared a dividend of $0.25 per share, payable on June 20, 2025, to shareholders of record as of May 27, 2025.
Newmont's balance sheet remains robust, ending the quarter with $4.7 billion in cash and $8.8 billion in total liquidity, while reducing its debt by $1 billion since the beginning of the year. The average realized gold price for the quarter was $2,944 per ounce, and the company is on track to meet its 2025 production guidance. Despite a decrease in attributable gold production from the previous quarter, the company continues to maintain a strong operational outlook and has made significant progress on its asset divestitures.
linkApr 23, 2025 16:06:00
Newmont Corporation reported a notable increase in financial performance for 2024, with net income reaching $3.4 billion and adjusted net income per diluted share hitting $3.48. The company generated $6.3 billion in cash from operating activities, resulting in a record free cash flow of $2.9 billion for the year. Newmont also declared a fourth quarter dividend of $0.25 per share and completed the integration of Newcrest assets, solidifying its position as the largest gold producer globally. Additionally, the company announced agreements to divest several non-core assets, potentially generating up to $4.3 billion in proceeds, with $2.5 billion expected in the first half of 2025.
Conversely, Newmont faced challenges as the average gold cost per ounce increased, with the total cash cost for gold rising to $1,096 per ounce in the fourth quarter. Despite a strong operational performance, the company reported a significant loss of $3.2 billion in the fourth quarter of 2023, although this was offset by a substantial profit in 2024. The guidance for 2025 indicates an expected gold production of approximately 5.9 million ounces, with costs projected to remain elevated due to various factors, including planned mine sequencing and increased royalties. The first quarter of 2025 is anticipated to reflect higher costs associated with non-core assets pending divestiture.
linkFeb 20, 2025 16:01:49
Newmont Corporation reported a robust third quarter for 2024, achieving an impressive production of 2.1 million gold equivalent ounces and generating $760 million in free cash flow. The company announced a dividend of $0.25 per share and made significant strides in divesting non-core assets, including the sale of the Akyem mine in Ghana for up to $1 billion. These efforts are expected to yield up to $1.5 billion in gross proceeds, allowing Newmont to reduce its debt and enhance shareholder value through share repurchases, totaling $750 million since February 2024.
Despite the positive results, Newmont faced some challenges, including a slight increase in cash costs per ounce due to higher operating expenses and the impact of planned maintenance at certain sites. The company also reported a loss on assets held for sale, which slightly offset the gains from increased production and higher gold prices. Nevertheless, Newmont's overall financial health remains strong, with $3 billion in cash and a solid liquidity position, setting the stage for continued growth and investment in future projects.
linkOct 23, 2024 16:05:56
Newmont Corporation finalized its acquisition of Newcrest Mining, enhancing its market position. The transaction, valued at $13,549, allows Newcrest to operate as a wholly owned subsidiary of Newmont. While the financial impact is still being assessed, adjustments are in progress to reflect fair values of assets and liabilities. However, the pro forma information is preliminary and does not predict future results, indicating potential uncertainties ahead.
linkJul 26, 2024 06:34:45
Newmont Corporation announced solid second quarter results, producing 2.1 million gold equivalent ounces and generating $594 million in free cash flow. The company declared a $0.25 per share dividend and repurchased $250 million in shares while reducing debt by the same amount. They expect significant cash from asset divestitures and are on track to meet annual production and financial goals. However, they reported a working capital change of $(263) million, indicating potential liquidity concerns.
linkJul 24, 2024 16:05:28
Newmont Corporation reported strong first quarter results, generating over $1.4 billion in cash from operations, declaring a dividend of $0.25 per share. The company produced 1.7 million gold ounces and made progress in monetizing non-core assets. Despite a non-cash impairment of $485 million, Newmont is on track to deliver 2024 guidance and achieve synergies from recent acquisitions. Debt refinancing and sustainability efforts were highlighted, with a focus on maintaining a leading position in the gold and copper industry.
linkApr 25, 2024 07:00:33
Newmont Corporation priced a private offering of $2 billion aggregate principal amount of notes, intending to repay outstanding borrowings and use the rest for general corporate purposes. The offering is expected to close on March 7, 2024. The notes will be guaranteed by a subsidiary of Newmont. The company used previous borrowings to repay debts from an acquisition. The offering is not for sale in certain jurisdictions and is directed to qualified institutional buyers and non-U.S. persons.
linkMar 04, 2024 19:13:11