Newmont Corporation reported a strong performance for the first quarter of 2025, delivering 1.5 million attributable gold ounces and achieving $1.9 billion in net income. Adjusted net income was $1.25 per diluted share, and adjusted EBITDA reached $2.6 billion. The company also generated $2.0 billion in operating cash flow (net of a $141 million working capital reduction), resulting in a record $1.2 billion in free cash flow for a first quarter.

Since the beginning of the year, Newmont has returned $1.0 billion to shareholders through share repurchases and dividends. It declared a $0.251 per share dividend for Q1 2025. The majority of gold production—1.3 million ounces—came from Newmont’s Tier 1 assets, alongside 35 thousand tonnes of copper production.

Newmont completed its non-core asset divestiture program announced in 2024, finalizing the sales of Musselwhite, Éléonore, Cripple Creek & Victor (CC&V), Porcupine, and Akyem mines. These sales generated over $2.5 billion in after-tax cash proceeds in 2025, with total gross proceeds expected to reach up to $4.3 billion.

The company ended the quarter with a robust balance sheet: $4.7 billion in cash and $8.8 billion in total liquidity. It reduced debt by $1.0 billion since the beginning of the year, including the early redemption of $928 million in 2026 Notes and $75 million in market repurchases. Net debt to adjusted EBITDA stood at just 0.3x, reflecting strong financial flexibility and positioning Newmont well to meet its full-year 2025 guidance.