Ratings upgrade underscores balance sheet strength, says Newmont's Palmer
Moody’s Ratings has upgraded gold miner Newmont’s issuer credit rating to A3 from Baa1, with a stable outlook, the NYSE-, TSX- and ASX-listed miner reported on Thursday.
The upgrade, the company said, was supported by an improved credit profile, strengthened balance sheet, excellent liquidity position and prudent financial management.
“The upgrade from Moody’s underscores the strength of Newmont’s balance sheet and our commitment to a disciplined, balanced approach to capital allocation,” said CEO Tom Palmer.
“Over the past several years, Newmont has significantly reduced gross debt, maintained a stable dividend framework, and advanced a capital allocation strategy designed to deliver long-term value. Maintaining a strong and investment-grade balance sheet is core to this strategy, and we remain confident in our ability to generate robust free cash flow across a range of gold price environments.”
Newmont ended the second quarter of 2025 with $6.2-billion of consolidated cash and $10.2-billion of liquidity. The company stressed that its capital allocation priorities remained unchanged.
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