Newmont Corp., the world’s largest gold miner, is on track to generate over $2 billion from the sale of smaller mines and development projects, according to COO Natascha Viljoen. “We’ll get at least that,” Viljoen said during an interview at the Denver Gold Group’s forum in Colorado, noting that the sales are progressing as planned.
Following its 2023 acquisition of Newcrest Mining Ltd., the Denver-based company aims to divest non-core assets and focus on Tier 1 operations capable of producing over 500,000 ounces of gold equivalent for at least a decade, while expanding its copper portfolio.
Recently, Newmont agreed to sell two Australian assets to Greatland Gold Plc for up to $475 million. The company is now pushing to complete sales of mines and projects in Ghana, the US, and Canada by Q1 2025.
Newmont’s CFO, Karyn Ovelmen, shared that the sale of the Akyem mine in Ghana is in advanced stages, while due diligence for its North American assets is underway.
Analyst Ratings Update: Mixed Sentiment on Newmont Corp. (NEM)
In the past three months, seven analysts have provided mixed ratings for Newmont Corp. (NEM), reflecting both bullish and bearish perspectives.
Key Insights:
- 12-Month Price Targets: The average target is $57.71, with a high of $65.00 and a low of $50.00. This marks a 15.81% increase from the previous average of $49.83.
- Action Taken: Analysts have adjusted their recommendations based on market changes and company performance, with actions ranging from ‘Maintain’ to ‘Raise’ or ‘Lower’ their stance.
- Rating Spectrum: Analysts’ ratings vary from ‘Outperform’ to ‘Underperform,’ offering insights into Newmont’s expected performance relative to the market.
- Price Target Trends: Shifts in price targets provide a glimpse into changing expectations for Newmont’s stock value over time.
For a complete picture of Newmont’s market outlook, examine these ratings alongside key financial indicators to make informed decisions.
