Q4 2024 Newmont Corporation Earnings Call Transcript

Feb 20, 2025 / 10:30 PM GMT

Release Date Price: $40

Transcript 10-K8-K

Key Points

Positve

Newmont Corp (NEM) exceeded its production guidance by delivering 6.8 million ounces of gold and over 150,000 tonnes of copper in 2024.
The company generated a record free cash flow of $1.6 billion in the fourth quarter, driven by strong gold prices and higher sales volumes.
Newmont Corp (NEM) successfully completed its divestment program, selling six non-core operations, which is expected to result in $2.5 billion in cash proceeds.
The company maintained a strong balance sheet with over $3.6 billion in cash and $7.7 billion in liquidity, while retiring $1.4 billion in debt.
Newmont Corp (NEM) returned $2.3 billion to shareholders through dividends and share repurchases, demonstrating a commitment to shareholder returns.

Negative

The integration of acquired assets like Cadia and Lihir faced challenges, requiring significant investment to realize their full potential.
All-in sustaining costs are expected to rise to $1,620 per ounce in 2025 due to sustaining capital investments and macroeconomic factors.
The company is undergoing an investment cycle that will keep sustaining capital at elevated levels over the next few years.
Newmont Corp (NEM) is carrying unacceptably high G&A costs, which are expected to decrease as the company transitions to a smaller portfolio of managed operations.
The company provided only one-year guidance for 2025, focusing on stabilizing the business, which may leave investors seeking more long-term visibility.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NEM.N - Newmont Corporation
Q4 2024 Newmont Corporation Earnings Call
Feb 20, 2025 / 10:30PM GMT

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Presentation
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Unidentified_1 [1]
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Why.

Okay.

Rick.

Hello, and welcome to Newmont's Fourth Quarter and Full Year 2024 Results Conference Call.

All participants will be in listen only mode.

So do you need assistance, please signal a conference specialist by pressing the star key followed by zero.

After today's presentation, there will be an opportunity to ask questions.

Please note, this event is being recorded.

I would now like to turn the conference over to Tom Palmer, President and Chief Executive Officer.

Please go ahead.

Thank you, operator, and hello, everyone, and thank you for taking the time to join our call.

Today, I'm joined by Karen Sullivan, our Chief

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