The latest announcement is out from Newmont Mining ( (NEM) ).
Newmont Corporation has completed the sale of its Akyem operation in Ghana and Porcupine operation in Canada, marking the end of its non-core asset divestiture program announced in February 2024. The sales generated approximately $850 million in after-tax cash proceeds, contributing to a total of up to $4.3 billion from divestitures. This move strengthens Newmont’s balance sheet and supports capital returns to shareholders. Additionally, Newmont now owns approximately 15% of Discovery Silver Corp’s common shares as part of the Porcupine sale, positioning it strategically within the industry.
Spark’s Take on NEM Stock
According to Spark, TipRanks’ AI Analyst, NEM is a Neutral.
Newmont Mining’s overall score is driven by strong cash flow and revenue growth, balanced by concerns about high costs and operational challenges. The positive technical analysis supports a favorable stock outlook, although valuation is fair and does not suggest significant undervaluation. The mixed earnings call sentiment tempers the strong financial performance slightly.
To see Spark’s full report on NEM stock, click here.
More about Newmont Mining
Newmont is the world’s leading gold company and also produces copper, zinc, lead, and silver. The company operates in favorable mining jurisdictions across Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. It is the only gold producer listed in the S&P 500 Index and is recognized for its environmental, social, and governance practices.
YTD Price Performance: 47.51%
Average Trading Volume: 11,951,749
Technical Sentiment Signal: Sell
Current Market Cap: $61.76B
Learn more about NEM stock on TipRanks’ Stock Analysis page.