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Analyst
Hugo Nicolaci
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q2 (7 quarters; questions recorded in 6).
- Questions
- 12on tracked calls
- Challenge rate
- 0%none of 12 questions
- Companies
- 1questioned at least once
- Reporting periods
- 6with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 12 of 12 questions from 1 company
NEMNewmont12 questions · 6 reporting periods · 0 of 12 challenging
Calendar 2026 Q2
could you maybe outline which assets you’re seeing the most cost pressures at
Show response
CEO named the exposed open pit assets and the productivity actions taken at each, answering the asset-level question.
can you maybe step us through the pathway back to 6 million ounces and how dependent is that on the Cadia Cave ramp-up
Show response
CEO walked through the non-Cadia contributors and stated the medium-term path is less reliant on the caves.
Calendar 2025 Q4
Do you see room for further divestments of resources from the portfolio? Or conversely, should we take the comment that you're exploring more opportunities in the region around Yanacocha that you'r...
Show response
Natascha emphasized Peru remains central to the portfolio. All longer-dated projects under review with a clear sequencing framework. Red Chris benefited from design learnings after last year's incident. Yanacocha Sulfides deferral doesn't signal Peru exit.
Are you able to just provide some more detail on the magnitude of those cost savings that are hitting that 2026 outlook number? And then any further cost-out targets you're looking to try and deliv...
Show response
Natascha quantified: $100/oz AISC savings from initiatives, 21% G&A reduction ($100M), and $230M savings from debt retirement and share repurchases. Headcount reduction complete; future savings from operational productivity and non-headcount discipline.
Calendar 2025 Q3
is there maybe room to monetize additional assets like the stakes in some of these multimillion ounce projects like Galore Creek and Nueva Unión
Show response
Natascha confirmed all projects compete for capital. Those not competing in 5-year window could be divested if unable to create value. Continuous portfolio evaluation underway.
as you take a step back, maybe what excites you the most about the future of Newmont?
Show response
Tom expressed excitement about Newmont sustaining production levels and margins through 2030s that no other gold company can compete with. Portfolio described as unprecedented in the industry.
Calendar 2025 Q2
How much of that is the ongoing production improvement works in fleet replacement versus just underlying cost pressures?
Show response
Tom deferred Nevada Gold Mines cost questions to operator (Barrick). Board meeting and site visit planned for next week. Directed Hugo to Barrick's upcoming results.
it looks like the mill ran above nameplate capacity in the quarter for the first time in about 4 years. Are you able to talk us through the productivity improvements
Show response
Natascha detailed Boddington improvements: mine design optimized for autonomous fleet with 10% productivity uplift, no fleet increase. Plant running above nameplate through better asset management and reliability. Still in pushback campaign for next 12+ months.
Calendar 2025 Q1
is it debt levels or flexibility or interest costs? Just if I look at the debt facilities you have in place at the moment
Show response
Karyn said no specific intent but will look for opportunities to further reduce debt in high gold price environment given economic uncertainty. Balance sheet buffering alongside buybacks and dividend.
is there anything to call out in terms of work completions or equipment delivery that we should think about in terms of tangible impacts to production
Show response
Tom confirmed no unusual items, Q1/Q2 production similar. Higher sustaining capital in Q2 from seasonal work at Brucejack, Red Chris, and road maintenance.
Calendar 2024 Q4
what's needed to firm up the sequencing and timing of projects like Red Chris and Yanacocha in the sulfides?
Show response
Tom explained Red Chris feasibility study is underway, Yanacocha needs water treatment plants for sulfide transition, and current projects must earn the right before advancing the pipeline.
how should the market think about the gearing and debt targets going forward?
Show response
Karyn directly confirmed no change to capital allocation, $3B cash, sub-$8B debt, $1 dividend, continuing $3B buyback program with $1.8B remaining.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| NEM Newmont | 12 | 0%none of 12 questions |
- NEMNewmont · 12 questions0%none of 12 questions
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 2 | 0%none of 2 questions | 1 |
| 2025 Q1 | 2 | 0%none of 2 questions | 1 |
| 2025 Q2 | 2 | 0%none of 2 questions | 1 |
| 2025 Q3 | 2 | 0%none of 2 questions | 1 |
| 2025 Q4 | 2 | 0%none of 2 questions | 1 |
| 2026 Q1 | No questions recorded | — | — |
| 2026 Q2 | 2 | 0%none of 2 questions | 1 |
- 2024 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q22 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2026 Q1No questions recorded
- 2026 Q22 questions · challenge rate 0% (none of 2 questions) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Cost Pressure4
- Capital Allocation4
- Margin3
- Revenue Growth2
- Capex Investment2
- M&A2
- Competitive Dynamics2
- Innovation & R&D2