Newmont Corporation

Latest Results (17.12.2024):

Net Income and Adjusted Earnings

In the third quarter of 2024, Newmont Corporation reported a net income attributable to its stockholders of $922 million, or $0.80 per diluted share. This marks an increase of $69 million from the previous quarter, driven by higher average realized gold prices and increased sales volumes. Adjusted net income for the quarter was $936 million, or $0.81 per diluted share, compared to $834 million, or $0.72 per diluted share, in the prior quarter.

Gold Production and Costs

Newmont Corporation's attributable gold production for the third quarter of 2024 increased by 4% to 1,668 thousand ounces. This rise was primarily due to higher production at Cerro Negro and improved throughput at other sites. The average realized gold price was $2,518 per ounce, an increase of $171 per ounce over the previous quarter. Gold CAS (Cost Applicable to Sales) per ounce increased by 5% to $1,207, while Gold AISC (All-In Sustaining Cost) per ounce rose by 3% to $1,611.

Cash Flow and EBITDA

Newmont Corporation generated $1.6 billion in net cash from operating activities during the third quarter of 2024, reflecting a 17% increase from the prior quarter. This improvement was primarily due to higher realized gold prices. Adjusted EBITDA for the quarter remained consistent with the previous quarter at $2.0 billion, indicating stable operational performance.

Shareholder Returns and Dividends

During the third quarter of 2024, Newmont Corporation delivered $786 million in total returns to shareholders through share repurchases and dividend payments. The company declared a dividend of $0.25 per share of common stock for the quarter, payable on December 23, 2024, to holders of record at the close of business on November 27, 2024. Additionally, Newmont's Board authorized an additional $2 billion share repurchase program.

Outlook and Strategic Initiatives

Newmont Corporation is positioned to meet its 2024 production guidance, expecting to deliver attributable production of 1.8 million gold ounces at an All-In Sustaining Cost (AISC) of $1,475 per ounce in the fourth quarter. The company also achieved a $500 million annual synergy run-rate following the Newcrest acquisition, reaching its commitment more than a year ahead of schedule. Newmont continues to focus on strategic divestitures and partnerships to enhance shareholder value.