Gold mining stocks are gaining huge momentum with gold knocking at the benchmark price of USD$2800 an ounce. Top growth stocks from the sector are getting in focus.
Gold Road Resources Limited (ASX: GOR)
Gold Road Resources Limited (ASX: GOR) reported a strong performance in the December 2024 quarter, with Gruyere gold production reaching a record 91,631 ounces, a significant increase compared to the September quarter’s 68,781 ounces. The All-in Sustaining Cost (AISC) per ounce for the quarter dropped to A$1,811, a substantial improvement from A$2,551 in the previous quarter. However, annual gold production from Gruyere slightly missed guidance, totaling 287,270 ounces, with an average AISC of A$2,211 per ounce. For 2025, the company expects Gruyere’s production to range between 325,000 and 355,000 ounces, with an AISC of A$2,400 to A$2,600 per ounce. The company’s financials also showed strong performance, with operating cash flow increasing to $141.7 million, and free cash flow rising to $76.2 million, marking record highs.
Gold Road, is considered among the gold companies to invest in having achieved record quarterly gold sales of 47,745 ounces at an average price of A$4,093 per ounce. Cash and equivalents rose to A$173.9 million by the end of December, up from $109.2 million in September, supported by no debt drawdown and investments in ASX-listed securities. The company’s attributable Corporate All-In Cost (CAIC) decreased to A$2,266 per ounce, reflecting improved operational efficiency. Additionally, the market value of its listed investments increased to approximately $742.7 million, a notable rise from the previous quarter's $579.6 million.
In terms of exploration and growth, Gold Road is making progress on multiple fronts. The company completed a pre-feasibility study for the Yamarna Mine Readiness Project, which includes the Gilmour Gold Project, now holding a maiden Ore Reserve of 0.19 million ounces at 4.10 g/t Au. Drilling activities continue at Gruyere, where a significant underground mining study and drilling program are underway, aiming to extend the mine life beyond 2032. Additionally, exploration efforts are ongoing at various projects, including Mallina, Balter, and Greenvale, with results expected in the coming quarters. The company has also committed a $15 million exploration program for 2025, focused on underground resources at Gruyere.
Newmont Corporation (ASX: NEM)
Newmont Corporation (ASX: NEM) delivered strong Q3 2024 results, underscoring its operational efficiency, portfolio optimization, and shareholder-focused capital allocation strategy. Newmont, one of the best growth stocks to buy now, announced significant divestitures, including the sale of the Akyem mine in Ghana for up to $1 billion and the Telfer mine with a 70% stake in the Havieron project in Western Australia for up to $475 million. These transactions align with Newmont’s target to generate at least $2 billion in proceeds from non-core asset sales, complementing the $527 million already received earlier in the year. Capital return remains a priority, with Newmont repurchasing 9.4 million shares in Q3 for $500 million at an average price of $53.16. Year-to-date buybacks now total $750 million under the $1 billion program announced in February. Additionally, the Board has authorized a new $2 billion share repurchase plan, providing flexibility for further opportunistic buybacks over the next 24 months. In total, shareholder returns for the quarter, including dividends and buybacks, amounted to $786 million.
On the balance sheet, Newmont continues to strengthen its financial position, reducing total debt by $233 million in Q3 and $483 million year-to-date. The company maintains a robust cash position, supported by anticipated proceeds from asset sales, providing flexibility to fund organic growth and strategic acquisitions. Operationally, Q3 attributable gold production reached 1.7 million ounces, with 1.4 million ounces from its Tier 1 assets and 430,000 gold-equivalent ounces (GEOs) from base metals. Copper output totaled 37,000 tonnes. Financial performance was equally strong, with $1.6 billion in operating cash flow, $760 million in free cash flow, and adjusted EBITDA of $2.0 billion. Adjusted net income stood at $924 million, or $0.81 per diluted share.
Looking ahead, Newmont, remains well-positioned to achieve its full-year guidance, with gold production projected at 6,930 Koz and stable cost metrics. Q4 production is expected at 1.8 million ounces at an AISC of $1,475/oz. With favorable gold price dynamics and synergies from the Newcrest acquisition, Newmont is poised for long-term growth, balancing disciplined capital deployment with sustained shareholder returns.
Source: Company’s Report
Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether it’s appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website www.veye.com.au), and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services.
