DENVER—Natascha Viljoen, the Executive Vice President and Chief Operating Officer of Newmont Corp (NYSE:NEM), a $47 billion market cap gold mining company with a GOOD financial health rating according to InvestingPro, recently sold 9,000 shares of the company's common stock. The transaction, which took place on December 2, 2024, was executed at a price of $41.59 per share, amounting to a total sale of $374,310. This sale was conducted under a Rule 10b5-1 trading plan established on August 30, 2024. Following this transaction, Viljoen holds 154,967 shares in the company. The stock, which currently trades near its 52-week low of $29.42, appears undervalued based on InvestingPro Fair Value analysis, with analysts setting price targets ranging from $45 to $71 per share. For deeper insights into Newmont's valuation and additional ProTips, including the company's 54-year dividend payment streak, visit InvestingPro.
In other recent news, Newmont Corporation has made significant strides in its divestiture strategy, agreeing to sell its Musselwhite mine in Ontario, Canada, to Orla Mining Ltd for up to $850 million. This sale is part of Newmont's ongoing strategy to divest non-core assets, with the proceeds expected to support the company's capital allocation priorities. Simultaneously, Newmont has announced leadership changes, appointing Brian Tabolt as its new Chief Accounting Officer and Group Head of Finance, effective December 1, 2024.
UBS has downgraded Newmont from Buy to Neutral due to disappointing third-quarter results and lowered medium-term production forecasts. Despite this, 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 recent developments provide a snapshot of Newmont's strategic moves and financial health. Despite challenges, Newmont is on track to meet its Q4 2024 gold production target of approximately 1.8 million ounces.
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