SoFi CEO enters prepaid forward contract on 1.5 million shares
DENVER—Natascha Viljoen, Executive Vice President and Chief Operating Officer of Newmont Corp (NYSE:NEM), recently sold 9,000 shares of the company’s common stock. The transaction, executed on February 3, 2025, was carried out under a Rule 10b5-1 trading plan, which had been established on August 30, 2024. Newmont, with a market capitalization of $50.7 billion, has seen its stock rise 16.47% year-to-date, significantly outperforming broader market indices.
The shares were sold at a price of $42.89 each, amounting to a total sale value of $386,010. Following this transaction, Viljoen retains ownership of 136,967 shares in the company. According to InvestingPro, Newmont has maintained dividend payments for 54 consecutive years, demonstrating strong financial stability. The stock currently trades near its Fair Value, with analysts providing additional insights available through InvestingPro’s comprehensive research reports.
Newmont Corp, headquartered in Denver, is a leading gold and silver mining company. The sale was disclosed in a filing with the Securities and Exchange Commission, dated February 5, 2025. The company maintains a healthy financial position, earning a GOOD overall health score from InvestingPro’s comprehensive analysis framework.
In other recent news, Newmont Mining Corp. has agreed to sell its Porcupine operation in Ontario, Canada to Discovery (NASDAQ:WBD) Silver Corp. in a deal that could reach up to $425 million. This move is a part of Newmont’s strategy to divest non-core assets, focusing on Tier 1 operations. The divestiture is expected to bring Newmont up to $4.3 billion in total proceeds. In light of this, Raymond (NSE:RYMD) James has adjusted Newmont’s stock target to $58, retaining an Outperform rating.
Additionally, Newmont has initiated a significant restructuring process, dismissing an executive and nearly a dozen senior managers as part of a broader corporate overhaul. This strategy is aimed at streamlining operations and consolidating business units, following a disappointing earnings report.
According to Susquehanna International Group, Newmont has seen notable gains in the second half of December, on average, over the last decade. The recent developments at Newmont Mining Corp. are part of the company’s ongoing efforts to optimize its portfolio and improve operational efficiency.
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