Yahoo Finance Newmont Corporation (NYSE:NEM) Q1 2024 Earnings Call Transcript
Newmont Corporation (NYSE:NEM) Q1 2024 Earnings Call Transcript April 25, 2024
Newmont Corporation beats earnings expectations. Reported EPS is $0.55, expectations were $0.35. Newmont Corporation isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Good morning and welcome to Newmont’s First Quarter 2024 Earnings Call. All participants will be in listen only mode. [Operator Instructions] Please note the event is being recorded. I'd now like to turn the conference over to Tom Palmer, President and Chief Executive Officer. Please go ahead.
Thomas Palmer: Thank you, operator. Good morning, everyone and thank you for joining our call. Today, I'm joined by my executive leadership team, including Natascha Viljoen and Karyn Ovelmen and we'll all be available to answer your questions at the end of the call. Can I please ask you to note our course free statement and refer to our SEC filings, which can be found on our website. Before we begin today, I'd like to take a moment to remember the three colleagues who sadly lost their lives working for Newmont this year. Mike Morrison or Colby, as he was known to his friends and colleagues, were the dedicated and hardworking member of our Half North project team and a Natural Leader. Colby was a son, a husband, a father, a dear friend to many and he'll be greatly missed.
Rosanna Lestermar was a daughter, a wife and a mother to a young daughter, civil engineer. Rosanna was part of the original team that developed Cerro Negro 11 years ago and had aspirations to soon become a part-time farmer in Argentina. And Daniel Ochoa a son, a father to two young boys, a partner and a brother. He has been described by his colleagues as a strong team member with ambitions to further develop his career in mining. The investigations into these tragic incidents have been led by two of our Managing Directors from different business units, with the support of teams of subject matter experts to ensure that we truly understand the cause of the incidents. Our response will include implementing both immediate measures from early observations from the investigations as well as taking a structured approach to reinvigorate our safety systems, tools, and infield lift that will all have a heavy focus on the quality of application.
Sadly, these recent incidents are a stark reminder of the need to maintain discipline and a relentless focus on safety fundamentals. The loss of Adam Kennedy, Coby, Rosanna and Daniel over the past six months has had a profound impact on the entire Newmont family. And it is with great humility and resolve that will continue to challenge ourselves to ensure that everyone working in our business goes home safely to their loved ones. Turning to our quarterly results, we are firmly on track to deliver our 2024 guidance. We are pleased with our operational performance in the first quarter and remain focused on delivering consistent results as guided over the remainder of this year and beyond. I also want to reiterate the four key commitments that we have made to our shareholders.
We continue to make progress on these commitments, and I would like to provide a brief update on our first quarter achievements, starting with strengthening Newmont's position as the gold industry's recognized sustainability leader. Last week, Newmont published our 20 annual sustainability report, along with our third annual taxes and royalties contribution report, both providing a detailed and transparent look at our values driven approach to sustainability and the economic contributions we made in the jurisdictions and communities that we operate in. With this sustainable foundation in place, we have created the industry's strongest portfolio of world-class gold and copper assets in the most favorable mining jurisdictions. And from this portfolio, we produced 1.7 million ounces of gold at an all-in sustaining cost of $1,439 an ounce in the first quarter.
See also
15 Best Cuisines in the World and
17 Best Insurance Dividend Stocks To Invest In Right Now.
To continue reading the Q&A session, please click here.
