Newmont Corp Stock Price, News & Analysis

Newmont Corporation (NYSE: NEM) has announced its acquisition of a 5% interest in Yanacocha from Sumitomo Corporation for $48 million. This move will give Newmont full ownership of the Yanacocha district, where it plans to enhance production through the Sulfides project. The acquisition is part of Newmont’s strategy to consolidate its interests in the region and is expected to close in the second quarter of this year. Newmont aims to boost copper production, supporting green economy initiatives and extending the mine's operational life.

Newmont Corporation (NYSE: NEM) will report its first quarter 2022 financial results on Friday, April 22, 2022, before market opening. A conference call is scheduled at 10 a.m. ET to discuss these results, which will also be available on the company’s website. Investors can join the call via the provided dial-in numbers or through a webcast. Newmont is the leading gold producer, with a portfolio spanning North America, South America, Australia, and Africa, and recognized for its strong environmental and social governance practices.

Newmont Corporation (NYSE: NEM) has received an upgrade from S&P Global Ratings, raising its issuer credit rating from BBB to BBB+ with a stable outlook. This upgrade is attributed to Newmont's strong balance sheet and disciplined capital allocation. In December 2021, the company issued the mining industry's first sustainability-linked bond worth $1 billion. Newmont reported $5 billion in consolidated cash and $8 billion in liquidity, with a net debt to adjusted EBITDA ratio of 0.2x. CEO Tom Palmer emphasized that the upgrade reflects the company's financial strength and its commitment to ESG principles.

Newmont Corporation (NYSE:NEM) has announced a definitive agreement to acquire properties in Tahltan Territory, British Columbia, from Skeena Resources Limited. The acquisition is contingent upon Skeena's acquisition of QuestEx Gold & Copper Ltd.. Newmont aims to support the Tahltan Stewardship Initiative, focusing on protecting lands important to the Tahltan Nation and the Iskut community, rather than for mineral development. This move reaffirms Newmont's commitment to sustainable practices and reconciliation with Indigenous communities.

Newmont Corporation (NYSE:NEM) has received approval from the Yukon and Canadian governments, after consultations with Yukon First Nations, to proceed with the Coffee Gold Project. This decision follows a recommendation from the Yukon Environmental Socioeconomic Assessment Board. The project is expected to generate nearly 700 jobs during peak construction and is positioned as a significant asset for the region's economic development. Newmont emphasizes its commitment to responsible mining and collaboration with local stakeholders throughout the project's advancement.

Newmont Corporation (NYSE: NEM) reported a slight decrease in gold Mineral Reserves for 2021, totaling 92.8 million ounces, down from 94.2 million at the end of 2020. The company expanded its reserves with the acquisition of Buenaventura's interest in Minera Yanacocha, adding 2.7 million ounces of gold and other significant resources. Over 90% of reserves are in top-tier jurisdictions, and the company maintains a gold reserve life of over 10 years. Notably, copper reserves stand at 15.1 billion pounds.

Exploration expenditures are projected at $250 million for 2022, focusing on near-mine expansions.

Newmont Corporation (NYSE: NEM) reported strong full-year results for 2021, producing 6.0 million attributable gold ounces and 1.3 million gold equivalent ounces. The company met its updated guidance with cash from operations of $4.3 billion and Free Cash Flow of $2.6 billion. Newmont returned $2.3 billion to shareholders, including a $0.55 per share dividend. The company ended the year with $5.0 billion in cash and improved its production outlook for 2022 to 6.2 million ounces. Additionally, it announced the acquisition of Buenaventura's interest in Minera Yanacocha.

Newmont Corporation (NYSE: NEM) has declared a $0.55 per share dividend for Q4 2021, payable on March 24, 2022, to shareholders of record by March 10, 2022. Future dividends will be determined at the Board's discretion based on the Company's financial performance, cash flow, and other relevant factors. Newmont is the leading gold producer, also mining copper, silver, and other metals, with operations in favorable jurisdictions worldwide.

Newmont Corporation (NYSE: NEM) has announced its acquisition of Buenaventura's 43.65% stake in Minera Yanacocha for $300 million, with potential contingent payments up to $100 million. The deal aims to consolidate Newmont's position in the Yanacocha district, enhancing its sulfides project, projected to produce 525,000 gold equivalent ounces annually. The acquisition ties into Newmont's long-term goal of sustainable mining in Peru. The expected investment decision is set for late 2022, securing growth and sustainability for the future.