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Bruce R. Brook, a director at Newmont Corp (NYSE:NEM), sold a portion of his holdings in the company, according to a recent SEC filing. On March 3, Brook sold 2,077 shares of Newmont Corp’s common stock at a price of $43.71 per share, amounting to a total transaction value of $90,785. This sale was executed under a Rule 10b5-1 trading plan established on September 3, 2024. The transaction comes as Newmont, with a market capitalization of $49.3 billion, has seen its stock rise nearly 15% year-to-date.
Following this transaction, Brook retains ownership of 47,916 shares in the company. Newmont Corp, a leader in the gold and silver mining industry headquartered in Denver, Colorado, maintains a strong financial position with a GREAT overall health score according to InvestingPro analysis. The company has maintained dividend payments for 55 consecutive years, demonstrating consistent shareholder returns. InvestingPro’s Fair Value analysis suggests the stock is currently undervalued.
In other recent news, Newmont Corporation reported fourth-quarter earnings and revenue that exceeded analyst expectations. The company achieved adjusted earnings per share of $1.40, surpassing the consensus estimate of $1.07, and recorded revenue of $5.65 billion, which was above the $5.15 billion analysts anticipated. Newmont produced 1.9 million attributable gold ounces in the fourth quarter, marking a 14% increase from the previous quarter. This rise was largely due to higher production at several of its operations, including Peñasquito, Boddington, and Lihir. For the full year 2024, the company reported attributable gold production of 6.85 million ounces and generated $6.3 billion in operating cash flow.
Newmont also completed the divestiture of three non-core operations, securing after-tax cash proceeds of $1.7 billion so far in 2025. The company plans to further strengthen its balance sheet and continue its shareholder capital return policy through share repurchases. The total gross proceeds from these divestitures could reach up to $4.3 billion, including future sales of the Akyem and Porcupine operations. The Akyem sale could bring in up to $1 billion, while the Porcupine sale is expected to generate up to $425 million. These recent developments reflect Newmont’s strategic portfolio optimization efforts.
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