Newmont Corp. to Invest $540M to Prolong Argentina Mine’s Lifespan
June 21, 2023
🌥️Trending News
Newmont Corporation ($NYSE:NEM) is a leading global gold producer and industry leader in responsible mining. Recently, it has been announced that Newmont will be investing $540M to extend the lifespan of its mine in Argentina. The investment will predominantly be used to focus on increasing production, reducing costs and modernizing the infrastructure of the mine. This will help Newmont to meet its goals of a long-term, sustainable and profitable mining operation.
In addition, it will ensure that the mine is able to continue to provide employment opportunities for the local community. It is hoped that by investing in the infrastructure and prolonging the lifespan of the mine, Newmont will be able to ensure that it remains a leader in the industry for years to come.
Stock Price
NEWMONT CORPORATION announced on Thursday that it will invest $540 million into the expansion and modernization of its Veladero mine in Argentina, in order to double the mine’s lifespan. This decision was welcomed by investors, as NEWMONT CORPORATION stock opened at $40.8 and closed at $42.5, up 4.7% from the prior day’s closing price of 40.6. The Veladero mine is the largest gold producer in Argentina, and the expansion and modernization will further extend the life of this important asset for NEWMONT CORPORATION. The expansion and modernization of the Veladero mine will create additional jobs in Argentina, while also allowing NEWMONT CORPORATION to further capitalize on the gold resources found in the region. The investment of $540 million will allow NEWMONT CORPORATION to improve the safety and environmental standards of the Veladero mine, ensuring that the project is conducted in a sustainable manner.
NEWMONT CORPORATION is confident that the investment into the Veladero mine will have a positive impact on its business operations in Argentina. The improved lifespan of the mine will enable the corporation to tap into more gold resources, with the potential to increase its overall gold production. The stock market responded positively to the news of the investment, with NEWMONT CORPORATION’s stock rising 4.7% from the prior day’s closing price. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Newmont Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 11.57k | -526 | 2.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Newmont Corporation. More…
| Operations | Investing | Financing |
| 3.01k | -2.81k | -1.81k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Newmont Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 38.37k | 18.82k | 24.44 |
Key Ratios Snapshot
Some of the financial key ratios for Newmont Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.2% | -9.1% | 0.8% |
| FCF Margin | ROE | ROA |
| 6.8% | 0.3% | 0.1% |
Analysis
At GoodWhale, we have conducted an analysis of NEWMONT CORPORATION‘s fundamentals. After close examination of the financial and business aspects, we have determined that it is a low risk investment. However, we have detected two risk warnings in NEWMONT CORPORATION’s income sheet and balance sheet. To gain more insight on these warnings, register with us to check it out. We are committed to providing you with the best and most comprehensive analysis of your investments. More…
Peers
Newmont Corp is one of the world’s leading gold miners. Its main competitors are Barrick Gold Corp, Agnico Eagle Mines Ltd, and Anglogold Ashanti Ltd. Newmont has a long history of successful gold mining operations, and is one of the largest gold producers in the world.
– Barrick Gold Corp ($TSX:ABX)
Barrick Gold Corporation is a gold mining company that has operations in Argentina, Australia, Canada, Chile, the Dominican Republic, Papua New Guinea, Peru, Saudi Arabia, Tanzania, and the United States. The Company produces and sells gold and copper, with gold mines that include Cortez, Goldstrike, and Turquoise Ridge. Barrick also has a joint venture with Newmont Corporation. The Company’s shares are traded on the Toronto Stock Exchange and the New York Stock Exchange.
– Agnico Eagle Mines Ltd ($TSX:AEM)
Agnico Eagle Mines Ltd is a gold producer with operations in northwestern Quebec, northern Mexico, and Nunavut, Canada. The company has a market cap of 26.78 billion as of 2022 and a return on equity of 4.04%. Agnico Eagle Mines Ltd is a gold producer with operations in northwestern Quebec, northern Mexico, and Nunavut, Canada. The company has a market cap of 26.78 billion as of 2022 and a return on equity of 4.04%.
– Anglogold Ashanti Ltd ($LTS:0HFY)
Anglogold Ashanti Ltd is a gold mining company with a market cap of 5.28B as of 2022. The company has a return on equity of 15.08%. Anglogold Ashanti Ltd is engaged in the exploration, development, and mining of gold properties. The company was founded in 1944 and is headquartered in Johannesburg, South Africa.
Summary
Newmont Corporation is an American-based gold producer with assets and operations in the United States, Australia, Peru, Ghana, and Suriname. The company has recently announced a $540 million investment to extend the life of its Argentina mine. On the news, the stock price moved up significantly. Investors may be attracted to Newmont Corporation for its strong financials and impressive portfolio of gold, copper, and silver assets.
The company has a solid balance sheet and a strong commitment to return cash to shareholders through dividends and share repurchases. Newmont is well-positioned to benefit from the current gold bull market and should continue to be a leading producer of gold for years to come.
Related Posts
Recent Posts
Investing Everyone Can Do.
Investing shouldn’t be exclusive to a select few. We believe everyone should have the opportunity to grow their wealth. That’s why our app is designed to be accessible and user-friendly, even for beginners.
