Newmont announces $1.3 billion adj EBITDA and a dividend of $0.55 per share for Q3

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Newmont Corporation (NYSE:NEM, TSX:NGT) today announced third quarter 2021 results. The company produced 1.45 million attributable ounces of gold and 315 thousand attributable gold equivalent ounces from co-products.

Looking at the cost of production the company reported gold costs applicable to sales (CAS) of $830 per ounce and all-in sustaining costs (AISC) of $1,120 per ounce.

The firm also updated its full-year guidance of 6.0 million ounces of attributable gold production, $790 per ounce of CAS, and $1,050 per ounce of AISC, reaffirming the original guidance of 1.3 million gold equivalent ounces from copper, silver, lead, and zinc

In regards to the all-important revenue, It $1.1 billion of cash from continuing operations and $735 million of Free Cash Flow (97 percent attributable to Newmont). Newmont also declared a third-quarter dividend of $0.55 per share, consistent with the previous quarter, and completed $99 million of share repurchases from the $1 billion buyback program.

Tom Palmer, Newmont President, and Chief Executive Officer said "Newmont delivered on a challenging third-quarter performance with $1.3 billion in adjusted EBITDA and $735 million in free cash flow, building momentum for a strong fourth quarter," said Tom Palmer, Newmont President, and Chief Executive Officer. "Supported by our clear strategic focus and proven operating model, we continue to apply our disciplined approach to capital allocation. A year ago, we announced our industry-leading dividend framework, establishing a clear pathway for stable and predictable returns. Over the last four quarters, Newmont has steadily reinvested in our operations while returning more than $2 billion dollars to shareholders through dividends and share buybacks, demonstrating our confidence in the long-term value of our business and our ability to maintain financial flexibility."

By Rajan Dhall

For Kitco News

Follow rajfx10rdhall@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

A shift to the later stages of gold and silver bull markets

Gold stocks plunge on metal drop

Gold stocks still up after pullback late in the week

US regional bank slump goes global, driving market into gold

Gold stocks weaker but outperform slump in other sectors