Materials › Gold And Silver
NEM Stock Price Correlated With Newmont Financials
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Income Statement
Cash Flow
Balance Sheet
NEM Income Statement
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NEM Cash Flow
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Operating Activities Net Income:
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NEM Balance Sheet
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COMPANY PROFILE
THE COMPANY Newmont Corporation and its affiliates and subsidiaries (collectively, “Newmont,” “we,” “us” or the “Company”) predominantly operate in the mining industry, focused on the production of and exploration for gold properties, some of which may contain copper, silver, zinc, lead or other metals. The Company has significant operations and/or assets in the United States (“U.S.”), Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia and Ghana. The cash flow and profitability of the Company’s operations are significantly affected by the market price of gold, copper, silver, lead and zinc. The prices of gold, copper, silver, lead and zinc are affected by numerous factors beyond the Company’s control.
References to “C$” refer to Canadian currency.
Goldcorp
On April 18, 2019, Newmont completed the business acquisition of Goldcorp, Inc. (“Goldcorp”), an Ontario corporation. The Company acquired all outstanding common shares of Goldcorp in a primarily stock transaction (the “Newmont Goldcorp transaction”) for total cash and non-cash consideration of $9,456. Refer to Note 3 for further information.
Nevada Gold Mines
On July 1, 2019, ("the effective date") Newmont and Barrick consummated the Nevada JV Agreement and established Nevada Gold Mines LLC ("NGM"), which combined the Company’s Nevada mining operations with Barrick’s Nevada mining operations.
As of the effective date, the Company contributed its existing Nevada mining operations, which included Carlin, Phoenix, Twin Creeks and Long Canyon, to NGM in exchange for a 38.5% interest in NGM. The interest received in NGM was accounted for at fair value, and accordingly, the Company recognized a gain of $2,390 during 2019 as Gain on formation of Nevada Gold Mines . The gain represents the difference between the fair value of the Company’s interest in NGM and the carrying value of the Nevada mining operations contributed to NGM. The Company accounts for its interest in NGM using the proportionate consolidation method, which is an exception available to entities in the extractive industries, thereby recognizing its pro-rata share of the assets, liabilities and operations of NGM.
On October 14, 2021, NGM and i-80 Gold Corp completed an exchange transaction pursuant to which NGM acquired the remaining 40% interest in the South Arturo property, obtained an option to acquire the adjacent Rodeo Creek exploration property, received contingent consideration of up to $50 on meeting specific production targets, and obtained the release of NGM bonds in exchange for i-80 bonding, in exchange for the Lone Tree and Buffalo mountain properties and related infrastructure. As a result of the exchange, the Lone Tree property was remeasured to fair value resulting in the recognition of a gain of $79 by the Company which represents its 38.5% interest in NGM, included in Gain on asset and investment sales, net .
GT Gold
At December 31, 2020, marketable and other equity securities included the 14.9% of equity interest held in GT Gold Corporation (“GT Gold”). In May 2021, the Company completed the acquisition of the remaining 85.1% of GT Gold for cash consideration, including related transaction costs, of $326. The asset acquisition resulted in total consideration of $378, including non-cash consideration of $52. The non-cash consideration represents the fair value of the 14.9% GT Gold investment held by the Company on the acquisition date. The total consideration paid was allocated to the acquired assets and assumed liabilities based on their estimated fair values on the acquisition date, which primarily consisted of mineral interests of $590 and a related deferred tax liability of $211.
Noncontrolling Interests
Newmont has a 75.0% economic interest in Suriname Gold project C.V. (“Merian”), with the remaining interests held by Staatsolie Maatschappij Suriname N.V. (“Staatsolie”), a company wholly owned by the Republic of Suriname. Newmont consolidates Merian, thro
References to “C$” refer to Canadian currency.
Goldcorp
On April 18, 2019, Newmont completed the business acquisition of Goldcorp, Inc. (“Goldcorp”), an Ontario corporation. The Company acquired all outstanding common shares of Goldcorp in a primarily stock transaction (the “Newmont Goldcorp transaction”) for total cash and non-cash consideration of $9,456. Refer to Note 3 for further information.
Nevada Gold Mines
On July 1, 2019, ("the effective date") Newmont and Barrick consummated the Nevada JV Agreement and established Nevada Gold Mines LLC ("NGM"), which combined the Company’s Nevada mining operations with Barrick’s Nevada mining operations.
As of the effective date, the Company contributed its existing Nevada mining operations, which included Carlin, Phoenix, Twin Creeks and Long Canyon, to NGM in exchange for a 38.5% interest in NGM. The interest received in NGM was accounted for at fair value, and accordingly, the Company recognized a gain of $2,390 during 2019 as Gain on formation of Nevada Gold Mines . The gain represents the difference between the fair value of the Company’s interest in NGM and the carrying value of the Nevada mining operations contributed to NGM. The Company accounts for its interest in NGM using the proportionate consolidation method, which is an exception available to entities in the extractive industries, thereby recognizing its pro-rata share of the assets, liabilities and operations of NGM.
On October 14, 2021, NGM and i-80 Gold Corp completed an exchange transaction pursuant to which NGM acquired the remaining 40% interest in the South Arturo property, obtained an option to acquire the adjacent Rodeo Creek exploration property, received contingent consideration of up to $50 on meeting specific production targets, and obtained the release of NGM bonds in exchange for i-80 bonding, in exchange for the Lone Tree and Buffalo mountain properties and related infrastructure. As a result of the exchange, the Lone Tree property was remeasured to fair value resulting in the recognition of a gain of $79 by the Company which represents its 38.5% interest in NGM, included in Gain on asset and investment sales, net .
GT Gold
At December 31, 2020, marketable and other equity securities included the 14.9% of equity interest held in GT Gold Corporation (“GT Gold”). In May 2021, the Company completed the acquisition of the remaining 85.1% of GT Gold for cash consideration, including related transaction costs, of $326. The asset acquisition resulted in total consideration of $378, including non-cash consideration of $52. The non-cash consideration represents the fair value of the 14.9% GT Gold investment held by the Company on the acquisition date. The total consideration paid was allocated to the acquired assets and assumed liabilities based on their estimated fair values on the acquisition date, which primarily consisted of mineral interests of $590 and a related deferred tax liability of $211.
Noncontrolling Interests
Newmont has a 75.0% economic interest in Suriname Gold project C.V. (“Merian”), with the remaining interests held by Staatsolie Maatschappij Suriname N.V. (“Staatsolie”), a company wholly owned by the Republic of Suriname. Newmont consolidates Merian, thro
Free historical financial statements for Newmont Goldcorp. See how revenue, income, cash flow, and balance sheet financials have changed over 63 quarters since 2009. Compare with NEM stock chart to see long term trends.
Data imported from Newmont Goldcorp SEC filings. Check original filings before making any investment decision.