Newmont Corporation

US: NEM

Market Cap$47,357m

Last Close $59.67

Newmont Corporation is the world’s leading gold company with a world-class portfolio of assets in North and South America, Australia and Africa. It is the only gold producer in the S&P 500 Index and is widely recognised for its ESG practices and as a leader in value creation, safety and mine execution.

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Investment summary

Newmont is the world’s largest gold mining company with a medium-term production target of 6.2–6.8Moz Au plus 1.4–1.6Moz AuE in co- and by-products from attributable reserves of 95.5Moz Au and reserves & resources of 208.0Moz in top tier jurisdictions. It seeks to distinguish itself from its peers via its high ESG standards (eg its climate change report in May), its management strength and experience, its operating model, its capital discipline, its track record of returns (eg its market leading dividend), its methodical approach to project development and its conservatism (eg reserves calculated at US$1,200/oz).

Y/E Dec
Revenue (US$m)
EBITDA (US$m)
PBT (US$m)
EPS (fd) (c)
P/E (x)
P/CF (x)
2020A 11497.0 5537.0 2929.0 265.51 22.5 17.2
2021A 12222.0 5963.0 3366.0 296.40 20.1 204.6
2022E 12515.6 6380.7 3203.2 279.84 21.3 21.5
2023E 12207.3 5404.3 2868.6 230.11 25.9 25.3
Industry outlook

Newmont has a number of sources of organic growth plus three major new projects (Tanami Expansion 2, Ahafo North and Yanacocha Sulphides) that we forecast will increase pre-financing cash flows by more than 50% by FY25. It has also recently increased its stake in Yanacocha from 51% to 100% and received both Federal and Territorial approval to develop its 2.4Moz Coffee project.

Last updated on 30/06/2022
Content on Newmont Corporation
Newmont Corporation – Empowering sustainability
Metals & mining | research Update | 17 May 2022
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Newmont Corporation – Building it piece by piece
Metals & mining | research Update | 21 April 2022
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Newmont Corporation – Q321 results in line with prior expectations
Metals & mining | research Update | 10 November 2021
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Sector
Metals & mining
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Share price graph
Balance sheet
Forecast net cash (US$m) 1363.5
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (12.1) (24.9) (5.9)
Relative* (4) (10.1) 6.9
52-week high/low US$85.4/US$53.3
*% relative to local index
Key management
Noreen Doyle Chairman
Nancy Buese EVP and CFO
Tom Palmer President and CEO