Gold miner Newmont leaps on agreement to sell Musselwhite for up to $850 million [Yahoo! Finance]
Newmont Corporation (NEM)
Last newmont corporation earnings: 2/20 06:55 am
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Source: Yahoo! Finance
RBC Capital Markets, which has a price target of $47 on Newmont, in a note labelled the transaction a “neutral” move. Newmont shares were up roughly 3% at $42 while U.S.-listed shares of Canadian miner Orla was up 7.5%. The deal, which includes $810 million in cash at closing and an additional $40 million contingent on gold prices, is part of Orla Mining's strategy to more than double its production of the precious metal, Orla said on Monday in a press release RBC analysts highlighted that the transaction will have no material impact on Newmont's valuation, as it already factors in the divestiture. They also noted that the sale price, which falls in line with their projections, reflects a 5-10% premium. The sale is aligned with Newmont's ongoing strategy to divest non-core assets and fund its share buyback program, RBC added. RBC's estimated fair value for Musselwhite ranges from $828 million to $984 million, depending on the prevailing gold price. Related Articles Gold m
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News
- NEM vs. AGI: Which Stock Is the Better Value Option? [Yahoo! Finance]Yahoo! Finance
- Founders Metals Announces Positive Metallurgical Test Work [Yahoo! Finance]Yahoo! Finance
- Newmont to Divest Musselwhite Operation for Up to $850 Million [Yahoo! Finance]Yahoo! Finance
- Lion One Intensifies Roscoelite Focus and Enhances Fiji Gold Team with Addition of Two Ex-newmont Geologists [Yahoo! Finance]Yahoo! Finance
- Newmont Co. (NYSE: NEM) was upgraded by analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating.MarketBeat
NEM
Earnings
- 10/23/24 - Beat
NEM
Sec Filings
- 11/18/24 - Form 8-K
- 11/12/24 - Form SC
- 11/6/24 - Form 4
- NEM's page on the SEC website