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Greatland Gold said it might try to buy back full ownership of the Havieron gold project in Pilbara, Western Australia if the opportunity arose. In February, Newmont, the majority partner at Havieron via a 70/30 joint venture with Greatland, deemed the project non-core.

Despite negative sentiment in gold mining stocks and Wall Street analysts downgrading the shares of the renowned mining firm Newmont (NYSE: NEM) to a ‘hold,' the NEM stock has soared over 15% in a single day on a positive earnings report, pulling with it the rest of the industry.

Major U.S. equities indexes tumbled as data showed a slowdown in economic growth and an uptick in inflation in the first quarter. The combination of sluggish growth and persistent inflation added to uncertainty surrounding if and when the Federal Reserve will decide it's appropriate to lower interest rates.

Newmont Corporation (NYSE:NEM ) Q1 2024 Earnings Conference Call April 25, 2024 11:00 AM ET Company Participants Thomas Palmer - President, CEO & Director Natascha Viljoen - EVP & COO Karyn Ovelmen - EVP & CFO Conference Call Participants Josh Wolfson - RBC Capital Markets Jackie Przybylowski - BMO Capital Markets Mike Parkin - National Bank Anita Soni - CIBC Daniel Major - UBS Operator Good morning and welcome to Newmont's First Quarter 2024 Earnings Call. All participants will be in listen only mode.

Newmont's (NEM) first-quarter earnings and revenues exceed expectations, driven by increased production and higher realized gold prices.

Newmont Corporation (NYSE:NEM, TSX:NGT, ASX:NEM, ETR:NMM) shares surged more than 10% after the miner reported better-than-expected profits and gold production for the first quarter. Adjusted profits nearly doubled from $320 million in the same period last year to $630 million.

(Kitco News) - Sold production and a significant jump in gold prices helped to drive robust earnings as the world's biggest gold producer beat first-quarter expectations.Thursday, before the North American trading session, Newmont Corporation (NYSE: NEM) announced adjusted net earnings per share of $0.55, up from $0.40 EPS reported in the first quarter of last year. According to consensus estimates, analysts were looking for earnings of around $0.49.The company said its revenue for the first quarter was $4.02 billion, beating consensus estimates of $3.65 billion.The company said that it produced 2.2 million gold equivalent ounces; however, the company's cash margins jumped in the first quarter due to an average gold price of more than $2,000 an ounce.

Newmont's (NEM) first-quarter performance is likely to have been aided by higher production and the strength in gold prices.

Gold prices have been rising, but gold miners have not seen the same increase in their share prices. Newmont Corporation has potential for at least a 24% upside at current gold prices. The upcoming Q1'24 earnings release and potential increase in guidance could serve as an upside trigger for Newmont.