DENVER—Natascha Viljoen, the Executive Vice President and Chief Operating Officer of Newmont Corp (NYSE:NEM), recently executed a significant stock sale. According to a recent SEC filing, Viljoen sold 9,000 shares of Newmont's common stock on January 10, 2025, at a price of $40 per share, totaling $360,000. The mining giant, which boasts a market capitalization of $45.2 billion and maintains a GOOD financial health rating according to InvestingPro, has demonstrated remarkable stability with 54 consecutive years of dividend payments.
Following this transaction, Viljoen retains ownership of 145,967 shares in the company. The sale was conducted under a pre-established Rule 10b5-1 trading plan, which was set up on August 30, 2024. This plan allows insiders to sell a predetermined number of shares at specified times, providing a measure of protection against accusations of insider trading. While the stock has seen a 16.66% decline over the past six months, analyst price targets range from $45 to $71.26, suggesting potential upside. InvestingPro analysis indicates the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report.
In other recent news, Newmont Corporation has been making significant strides in its business strategy. The company has been focusing on restructuring processes, including the dismissal of an executive and nearly a dozen senior managers, and the merging of several business units. Newmont has also been executing a divestiture strategy, selling off non-core assets such as the Cripple Creek & Victor operation in Colorado and the Musselwhite mine in Ontario, Canada.
The company's leadership has seen changes as well, with Brian Tabolt stepping into the role of Chief Accounting Officer and Group Head of Finance, and Joshua Cage transitioning to the role of Global Controller and Head of Operations Accounting. On the analyst front, UBS downgraded Newmont's stock from Buy to Neutral, citing disappointing third-quarter results and lowered medium-term production forecasts.
Despite these challenges, Newmont's Q3 2024 financial results revealed steady gold production and a focus on cost management, generating $1.6 billion in cash flow from operations. The company also initiated a $2 billion share repurchase program and returned $786 million to its shareholders. These are the latest developments for Newmont as it continues to navigate the complexities of the global gold market.
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