Newmont Announces Agreement to Divest CC&V for up to $275 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 06 2024
0mins
Should l Buy NEM?
Source: Yahoo Finance
Divestiture Announcement: Newmont Corporation has agreed to sell its Cripple Creek & Victor operation for up to $275 million, contributing to a total of $3.9 billion in gross proceeds from various asset divestitures and investment sales expected by early 2025.
Portfolio Optimization: The company is actively divesting non-core assets, having already completed sales of several operations and projects, with the goal of streamlining its portfolio and enhancing focus on core gold and copper assets.
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Analyst Views on NEM
Wall Street analysts forecast NEM stock price to rise
14 Analyst Rating
11 Buy
3 Hold
0 Sell
Strong Buy
Current: 109.900
Low
89.00
Averages
110.85
High
125.00
Current: 109.900
Low
89.00
Averages
110.85
High
125.00
About NEM
Newmont Corporation is a gold company and a producer of copper, zinc, lead, and silver with operations and/or assets in the Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea regions. The Company's operations include Brucejack, Red Chris, Penasquito, Merian, Cerro Negro, Yanacocha, Boddington, Tanami, Cadia, Lihir, Ahafo, and NGM. The Brucejack operation includes four mining leases and six core mineral claims which cover 8,169 acres (3,306 hectares) and 337 mineral claims covering 298,795 acres (120,918 hectares). The Red Chris operation includes five mining leases which cover 12,703 acres and 199 mineral claims, encompassing an area of 164,903 acres (66,734 hectares). Penasquito includes 20 mining concessions for operations comprising 113,231 acres (45,823 hectares) and 60 mining concessions for exploration of 107,456 acres (43,486 hectares). The Merian operation includes one right of exploitation encompassing an area of 41,687 acres (16,870 hectares).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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