Stock Analysis on Net
AI Tokens
Stock Analysis on Net

Newmont Corp. (NYSE:NEM)

This company has been moved to the archive! The financial data has not been updated since April 29, 2024.

Common-Size Balance Sheet: Assets
Quarterly Data

Newmont Corp., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Cash and cash equivalents 4.22 5.41 8.38 7.42 6.92 7.48 7.81 10.85 10.70 12.31 11.63 11.27 13.44 13.39 11.91 9.55 9.34 5.61 6.65 4.94 16.98
Trade receivables 1.41 1.32 0.20 0.49 0.91 0.95 0.74 0.92 1.03 0.83 0.84 0.84 0.64 1.09 0.80 0.64 0.55 0.93 0.94 0.89 1.00
Investments 0.04 0.04 0.06 1.07 2.21 2.29 1.93 0.13 0.18 0.20 0.39 0.55 0.58 0.70 0.77 0.78 0.44 0.59 0.39 0.06 0.27
Inventories 2.50 3.00 2.96 2.91 2.78 2.54 2.55 2.32 2.40 2.29 2.50 2.37 2.36 2.33 2.42 2.41 2.45 2.54 2.70 3.10 3.04
Stockpiles and ore on leach pads 1.35 1.76 2.18 2.25 2.36 2.01 1.77 1.89 2.00 2.11 2.36 2.29 2.17 2.00 1.99 2.10 2.23 2.03 1.86 2.09 3.54
Derivative assets 0.21 0.36 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other current assets 1.38 1.64 1.86 1.95 1.92 1.66 1.34 1.29 1.37 1.23 1.02 0.99 1.17 1.05 1.00 1.29 1.24 1.43 1.43 1.45 1.02
Current assets held for sale 10.22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.56 0.00 0.00 0.00
Current assets 21.34% 13.53% 15.64% 16.09% 17.09% 16.93% 16.15% 17.40% 17.69% 18.97% 18.74% 18.30% 20.37% 20.56% 18.89% 16.76% 16.26% 15.69% 13.98% 12.54% 25.85%
Property, plant and mine development, net 60.66 67.67 64.26 63.68 62.80 62.56 61.70 60.80 60.31 59.47 59.48 60.23 58.64 58.69 60.01 61.87 62.85 63.23 64.27 63.20 58.74
Investments 7.48 7.46 8.23 8.32 8.38 8.52 8.17 8.07 8.36 7.99 7.96 7.92 7.71 7.73 7.47 7.53 7.28 8.00 8.08 10.03 1.61
Stockpiles and ore on leach pads 3.32 3.49 4.57 4.56 4.41 4.46 4.70 4.50 4.48 4.38 4.49 4.43 4.25 4.12 4.17 4.07 3.83 3.71 3.73 4.97 8.79
Deferred income tax assets 0.38 0.48 0.36 0.44 0.44 0.45 0.53 0.53 0.57 0.66 0.79 0.81 0.81 0.81 1.25 1.33 1.30 1.37 1.08 1.42 1.81
Goodwill 5.05 5.41 5.18 5.17 5.14 5.12 7.08 6.98 6.94 6.83 6.95 6.81 6.75 6.70 6.83 6.95 6.96 6.69 7.55 5.83 0.00
Derivative assets 0.74 0.80 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other non-current assets 1.04 1.15 1.77 1.75 1.75 1.96 1.68 1.72 1.66 1.69 1.59 1.50 1.47 1.39 1.39 1.49 1.52 1.30 1.31 2.01 3.21
Non-current assets 78.66% 86.47% 84.36% 83.91% 82.91% 83.07% 83.85% 82.60% 82.31% 81.03% 81.26% 81.70% 79.63% 79.44% 81.11% 83.24% 83.74% 84.31% 86.02% 87.46% 74.15%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

The asset composition of the balance sheet is characterized by a heavy concentration in non-current assets, specifically fixed infrastructure related to mining operations. Over the analyzed period from early 2019 to early 2024, the proportion of non-current assets has generally remained above 78%, reflecting the capital-intensive nature of the business.

Liquidity and Current Asset Trends
Cash and cash equivalents have exhibited significant volatility, starting at 16.98% in March 2019, dropping sharply to 4.94% by June 2019, and peaking again at 13.44% in March 2021. A consistent downward trend in cash holdings is observable from mid-2021, reaching a period low of 4.22% by March 2024. While total current assets typically fluctuate between 13% and 20%, a sharp increase to 21.34% is noted in March 2024, primarily driven by the introduction of current assets held for sale, which account for 10.22% of total assets in that quarter.
Fixed Asset Concentration
Property, plant, and mine development, net, represents the largest single component of the asset base, consistently ranging between 58% and 68%. This category reached a peak of 67.67% in December 2023 before decreasing to 60.66% in March 2024. This indicates that the majority of the company's value is tied up in long-term productive capacity and mine development.
Investment and Intangible Asset Shifts
A structural shift occurred in June 2019, marked by a substantial increase in non-current investments (from 1.61% to 10.03%) and the appearance of goodwill at 5.83%. Goodwill remained relatively stable between 5% and 7% for several years, suggesting a significant acquisition or business combination during that period. Non-current investments stabilized between 7% and 8% for the majority of the timeframe, though they experienced a slight decline toward the end of 2023.
Operational Assets and Inventory
Inventories and stockpiles have remained relatively stable as a percentage of total assets. Inventories have generally fluctuated between 2.3% and 3.0%, while stockpiles and ore on leach pads (combining current and non-current portions) have shown minor variability. This stability suggests a consistent operational cycle relative to the overall growth or contraction of the balance sheet.
Recent Balance Sheet Reclassification
The data for March 2024 indicates a strategic shift in asset allocation. The emergence of derivative assets and a significant spike in assets held for sale coincided with a reduction in the proportion of non-current assets to 78.66%, the lowest level since 2019. This suggests an intent to divest specific portions of the asset base.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?