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Newmont's Earnings and Revenues Surpass Estimates in Q1
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Newmont Corporation (NEM - Free Report) reported first-quarter 2025 earnings from continuing operations of $1.68 per share, up from 15 cents in the year-ago quarter.
Barring one-time items, adjusted earnings were $1.25 per share compared with 55 cents reported in the prior-year quarter. It topped the Zacks Consensus Estimate of 84 cents.
NEM’s revenues for the first quarter were $5,010 million, up 24.5% from $4,023 million reported in the prior-year quarter. The figure beat the Zacks Consensus Estimate of $4,464.5 million. The increase in the top line was primarily due to higher year-over-year realized gold prices.
(Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
Newmont Corporation Price, Consensus and EPS Surprise
Newmont's attributable gold production in the first quarter was 1.54 million ounces, 8.3% lower than the prior-year quarter’s figure. The figure was in line with our estimate.
Average realized prices of gold rose around 40.9% year over year to $2,944 per ounce. The figure topped our estimate of $2,759 per ounce.
The company’s costs applicable to sales (CAS) for gold were $1,227 per ounce, up 16.1% year over year. The figure beat our estimate of $1,194 per ounce.
All-in-sustaining costs (AISC) for gold were up around 14.7% year over year to $1,651 per ounce. The figure lagged our estimate of $1,691 per ounce.
NEM’s Financials
The company ended the quarter with cash and cash equivalents of $4,698 million, up 101.1% year over year. At the end of the quarter, the company had a long-term debt of $7,507 million, down 16% year over year.
Net cash from continuing operations amounted to $2,031 million in the reported quarter, up from $776 million in the year-ago quarter.
NEM’s Outlook
Newmont anticipates maintaining its expected gold production for 2025 at about 5.9 million ounces. The company also projects a CAS for gold at $1,200 per ounce and an AISC of $1,630 per ounce.
NEM’s Price Performance
Newmont’s shares have gained 45.1% in the past year against a 53.3% rise of the industry.
Hawkins is expected to report first-quarter results on May 21. The consensus estimate for Hawkins’ earnings is pegged at 74 cents. HWKN beat the consensus estimate in one of the last four quarters while missing thrice, with the average earnings surprise being 6.1%.
Osisko Gold is scheduled to release first-quarter results on May 7. The Zacks Consensus Estimate for OR’s first-quarter earnings is pegged at 15 cents. OR has a trailing four-quarter earnings surprise of 4.4%, on average.
Intrepid Potash is slated to release first-quarter results on May 5. The consensus estimate for IPI’s first-quarter earnings is pegged at a loss of 12 cents. The Zacks Consensus Estimate for first-quarter earnings has been stable over the past 60 days.
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Newmont's Earnings and Revenues Surpass Estimates in Q1
Newmont Corporation (NEM - Free Report) reported first-quarter 2025 earnings from continuing operations of $1.68 per share, up from 15 cents in the year-ago quarter.
Barring one-time items, adjusted earnings were $1.25 per share compared with 55 cents reported in the prior-year quarter. It topped the Zacks Consensus Estimate of 84 cents.
NEM’s revenues for the first quarter were $5,010 million, up 24.5% from $4,023 million reported in the prior-year quarter. The figure beat the Zacks Consensus Estimate of $4,464.5 million. The increase in the top line was primarily due to higher year-over-year realized gold prices.
(Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
Newmont Corporation Price, Consensus and EPS Surprise
Newmont Corporation price-consensus-eps-surprise-chart | Newmont Corporation Quote
NEM’s Operational Highlights
Newmont's attributable gold production in the first quarter was 1.54 million ounces, 8.3% lower than the prior-year quarter’s figure. The figure was in line with our estimate.
Average realized prices of gold rose around 40.9% year over year to $2,944 per ounce. The figure topped our estimate of $2,759 per ounce.
The company’s costs applicable to sales (CAS) for gold were $1,227 per ounce, up 16.1% year over year. The figure beat our estimate of $1,194 per ounce.
All-in-sustaining costs (AISC) for gold were up around 14.7% year over year to $1,651 per ounce. The figure lagged our estimate of $1,691 per ounce.
NEM’s Financials
The company ended the quarter with cash and cash equivalents of $4,698 million, up 101.1% year over year. At the end of the quarter, the company had a long-term debt of $7,507 million, down 16% year over year.
Net cash from continuing operations amounted to $2,031 million in the reported quarter, up from $776 million in the year-ago quarter.
NEM’s Outlook
Newmont anticipates maintaining its expected gold production for 2025 at about 5.9 million ounces. The company also projects a CAS for gold at $1,200 per ounce and an AISC of $1,630 per ounce.
NEM’s Price Performance
Newmont’s shares have gained 45.1% in the past year against a 53.3% rise of the industry.
Image Source: Zacks Investment Research
NEM’s Zacks Rank & Other Key Picks
NEM currently carries a Zacks Rank #2 (Buy).
Other top-ranked stocks worth a look in the basic materials space include Hawkins, Inc. (HWKN - Free Report) , Osisko Gold Royalties Ltd (OR - Free Report) and Intrepid Potash, Inc. (IPI - Free Report) . While HWKN sports a Zacks Rank #1 (Strong Buy), OR and IPI carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Hawkins is expected to report first-quarter results on May 21. The consensus estimate for Hawkins’ earnings is pegged at 74 cents. HWKN beat the consensus estimate in one of the last four quarters while missing thrice, with the average earnings surprise being 6.1%.
Osisko Gold is scheduled to release first-quarter results on May 7. The Zacks Consensus Estimate for OR’s first-quarter earnings is pegged at 15 cents. OR has a trailing four-quarter earnings surprise of 4.4%, on average.
Intrepid Potash is slated to release first-quarter results on May 5. The consensus estimate for IPI’s first-quarter earnings is pegged at a loss of 12 cents. The Zacks Consensus Estimate for first-quarter earnings has been stable over the past 60 days.