05:46 AM EDT, 08/28/2025 (MT Newswires) -- Newmont Corporation ( NEM ) was at last look up 0.4% in US premarket trade after it overnight Wednesday announced that Moody's Ratings has upgraded Newmont's ( NEM ) issuer credit rating to A3 from Baa1, with a stable outlook.

Moody's said the upgrade is supported by Newmont's ( NEM ) "improved credit profile, strengthened balance sheet, excellent liquidity position, and prudent financial management".

"The upgrade from Moody's underscores the strength of Newmont's ( NEM ) balance sheet and our commitment to a disciplined, balanced approach to capital allocation," said Tom Palmer, Newmont's ( NEM ) Chief Executive. "Over the past several years, Newmont ( NEM ) 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 ( NEM ) noted it ended the second quarter of 2025 with US$6.2 billion of consolidated cash and $10.2 billion of liquidity. The Company's capital allocation priorities remain unchanged, balancing financial strength and flexibility with steady reinvestment in the business, while also delivering strong shareholder returns through regular dividends and share repurchases.

Newmont ( NEM ) was down near 0.5% from near 52 week highs on the TSX yesterday.