BofA update shows where active managers are putting money
Newmont Goldcorp Corp stock reached a significant milestone, hitting a 52-week high at 73.4 USD. The company, which boasts a perfect Piotroski Score of 9 according to InvestingPro, has demonstrated remarkable performance with a 98.14% return year-to-date. This achievement underscores a robust year for the company, which has seen its stock price increase by 37.33% over the past 12 months. The rise to this 52-week high reflects strong investor confidence and positive market conditions for the gold mining giant, supported by its impressive financial health score of "GREAT" and a consistent 55-year track record of dividend payments, currently yielding 1.37%. As Newmont continues to capitalize on favorable gold prices and strategic initiatives, the stock’s upward trajectory highlights its resilience and growth potential in the current economic landscape. InvestingPro analysis reveals 13 additional key insights about Newmont’s future prospects, available in the comprehensive Pro Research Report.
In other recent news, Newmont Corporation has announced several significant developments. The company is preparing for substantial job reductions as part of a cost-cutting initiative following its $15 billion acquisition of Newcrest Mining Ltd. In addition, Moody’s Ratings has upgraded Newmont’s backed senior unsecured ratings to A3 from Baa1, citing improvements in its credit profile, strong liquidity, and adherence to conservative financial policies. Newmont has also received a $100 million payment after Ghana ratified the renewal of the Akyem East Mining Lease, part of its agreement to divest the Akyem operation to Zijin Mining Group, bringing the total after-tax cash proceeds from the sale to approximately $770 million.
Moreover, Newmont has divested its entire stake in Orosur Mining Inc., selling 29,213,186 common shares in a private transaction for approximately C$5.6 million. These developments come amid a broader industry context where gold mining stocks, including Newmont, saw gains after U.S. officials confirmed that certain gold bars would be subject to reciprocal tariffs. These strategic moves reflect Newmont’s ongoing efforts to optimize its operations and financial standing.
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