Newmont Corporation Reports 24.5% Revenue Growth to $5.01 Billion in Q1 2025

Newmont Corporation reported significant financial growth in its first quarter of 2025, with total sales reaching $5.01 billion, a 24.5% increase from $4.02 billion in the same period of 2024. The surge in revenue was primarily driven by higher average realized prices for gold, which rose to $2,944 per ounce from $2,090, alongside increased sales volumes of copper and zinc. The company’s net income from continuing operations attributable to Newmont stockholders soared to $1.89 billion, or $1.68 per diluted share, compared to $166 million, or $0.15 per diluted share, in the prior year, marking a substantial increase of over 1,000%.

Operationally, Newmont produced 1.46 million ounces of gold during the quarter, down from 1.62 million ounces in the previous year, while gold equivalent ounces from other metals totaled 348,000. The company also completed the sale of several non-core assets, including the CC&V, Musselwhite, and Éléonore segments, generating total proceeds of $1.86 billion. This divestiture strategy is part of Newmont's ongoing portfolio optimization efforts, which aim to streamline operations and focus on core assets.

In terms of costs, Newmont reported costs applicable to sales of $2.11 billion, unchanged from the previous year, despite fluctuations in production levels. The company’s adjusted EBITDA for the quarter was $2.63 billion, reflecting a 55% increase from $1.69 billion in the prior year. The increase in profitability was attributed to higher sales and a net gain recognized from the sale of assets, which contrasted with losses recorded in the previous year.

Newmont's financial position remains strong, with $4.7 billion in cash and cash equivalents at the end of the quarter, up from $3.6 billion at the end of 2024. The company also reported a net debt of $3.22 billion, a decrease from $5.31 billion, indicating improved financial flexibility. Looking ahead, Newmont anticipates continued operational improvements and cash flow generation, supported by its strategic focus on high-quality assets and disciplined capital allocation. The company declared a dividend of $0.25 per share for the quarter, consistent with its commitment to returning value to shareholders.