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Highlights

  • Q1 2025 net income hits $1.9 billion, with record free cash flow of $1.2 billion.

  • Completed divestiture of non-core assets, securing over $2.5 billion in net proceeds.

  • Maintains 2025 guidance with 1.5 million gold ounces produced and robust liquidity.

Newmont Corporation (NYSE: NEM, ASX: NEM, TSX: NGT, PNGX: NEM) has kicked off 2025 with a robust financial performance, reporting a net income of $1.9 billion for the first quarter. The mining giant also declared a quarterly dividend of $0.25 per share.

The company’s adjusted net income stood at $1.25 per diluted share, with adjusted EBITDA reaching $2.6 billion. Free cash flow hit a record $1.2 billion for the quarter, driven by strong operational performance and efficient capital management. Operating cash flow came in at $2.0 billion, even after adjusting for $141 million in working capital changes.

Newmont continues to execute its 2024-announced divestiture strategy, completing sales of five non-core assets—Musselwhite, Éléonore, and Cripple Creek & Victor in February, followed by Porcupine and Akyem in April. The asset sales have so far generated over $2.5 billion in cash proceeds after taxes, with total gross proceeds projected to reach up to $4.3 billion. This strategic move supports Newmont’s focus on streamlining operations and enhancing the performance of its core Tier 1 assets.

Shareholder returns remain a top priority. Since the beginning of the year, Newmont has returned $1.0 billion to investors through share repurchases and dividends. The declared dividend of $0.25 per share continues the company’s longstanding practice of consistent capital returns.

Gold production for the quarter reached 1.5 million attributable ounces, with 1.3 million ounces coming from the company’s high-performing Tier 1 Portfolio. Additionally, Newmont produced 35,000 tonnes of copper, further contributing to its diversified revenue streams. The company ended the quarter with $4.7 billion in cash and $8.8 billion in total liquidity.

Looking ahead, Newmont reaffirmed its full-year 2025 guidance, with gold production expected to be weighted more heavily in the second half of the year. This anticipated increase will be supported by enhanced output from Nevada Gold Mines, Pueblo Viejo, and the ramp-up of the Ahafo North project. Nearly half of the company’s 2025 gold production is projected for the first half, while the second half will benefit from seasonal and project-based production boosts.