The latest trading session saw Newmont Corporation (NEM) ending at $42.72, denoting a -0.86% adjustment from its last day's close. This change lagged the S&P 500's daily loss of 0.51%. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 0.28%.Shares of the gold and copper miner witnessed a gain of 12.3% over the previous month, beating the performance of the Basic Materials sector with its gain of 4.34% and the S&P 500's gain of 2.87%.The upcoming earnings r ...

Core Viewpoint - A class action lawsuit has been initiated against Newmont Corporation due to disappointing financial results and operational challenges reported in Q3 2024, leading to a significant drop in stock price [1][3][4]. Financial Performance - Newmont reported disappointing EBITDA highlights for Q3 2024, with decreases in production and increases in operating costs [3]. - The company indicated that mining operations at its two Tier 1 assets would experience lower production than previously guided, alongside expectations of higher costs [3]. Stock Market Reaction - Following the announcement on October 23, 2024, Newmont's stock price fell from $57.74 per share to $49.25 per share within a day [4]. Legal Proceedings - The class action lawsuit, James Karas v. Newmont Corporation, was filed in the United States District Court for the District of Colorado, affecting all individuals who purchased Newmont securities between February 22, 2024, and October 23, 2024 [1][4]. - Affected investors have until April 1, 2025, to request to be appointed as lead plaintiff in the case [4]. Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions for shareholders over the past 20 years [5]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as a leading securities litigation firm in the United States [5].

Newmont Corporation (NEM) recently announced the divestment of its Porcupine operation in Ontario, Canada to Discovery Silver Corp. for up to $425 million in consideration. With the completion of all the announced divestiture transactions, including this, Newmont will deliver up to $4.3 billion in total proceeds from non-core asset divestitures and investments.The expected proceeds of $425 million from the divestiture include cash consideration of $200 million, equity of $75 million in the form of Discovery ...

Transaction Overview - Discovery Silver Corp has entered into a definitive agreement to acquire 100% of Newmont's interest in the Porcupine Complex for a total consideration of $425 million [3] - The consideration includes $200 million in cash, $75 million in Discovery common shares, and $150 million in deferred cash payments starting in 2027 [4] - The acquisition is expected to establish Discovery as a growing Canadian gold producer with a large mineral resource base in a Tier 1 jurisdiction [7] Financing Details - Discovery has secured approximately $555 million in financing to fund the transaction and support operations, including $400 million from Franco-Nevada and $155 million from a public offering [5] - The public offering involves 250 million subscription receipts at C$0.90 each, with an over-allotment option for an additional 25 million receipts [33] - Franco-Nevada will provide $200 million in royalty financing, $100 million in repayable royalty financing, and $100 million in senior debt [32][37] Porcupine Complex Highlights - The Porcupine Complex is expected to produce an average of 285,000 ounces of gold annually over the next 10 years, with a total mine life of 22 years [13] - The complex includes the Hoyle Pond, Borden, and Pamour mines, with significant opportunities to increase production and reduce costs [20] - The base case NPV for the Porcupine Complex is $1.2 billion, with a sensitivity case NPV of $2.3 billion at higher gold prices [12][13] Strategic Benefits - The acquisition diversifies Discovery's portfolio, reducing risk and providing leverage to both gold and silver prices [9] - The transaction positions Discovery to build substantial financial strength through future production from the Porcupine Complex [13] - Discovery's management team brings extensive experience in the Timmins Camp, which is expected to maximize the value of the Porcupine Complex [13][25] Technical and Economic Analysis - The Porcupine Technical Report includes a preliminary economic assessment with inferred mineral resources that are considered speculative [2][17] - The report highlights opportunities to grow production, reduce costs, and extend mine life at the Porcupine Complex [20] - Significant exploration potential exists across the 140,000-hectare land position, with plans for extensive drilling [20] Shareholder and Stakeholder Benefits - The transaction is expected to create significant value for shareholders through future operating performance and exploration potential [9] - Discovery plans to invest in site restoration and rehabilitation, ensuring the community can safely use the sites in the future [8][25] - The acquisition establishes Discovery as a new North American precious metals producer with a strong pipeline for growth [25]

Newmont Corporation (NEM) ended the recent trading session at $41.68, demonstrating a -1.58% swing from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.61%. At the same time, the Dow added 0.3%, and the tech-heavy Nasdaq gained 1.28%.The gold and copper miner's shares have seen an increase of 10.55% over the last month, surpassing the Basic Materials sector's gain of 2.33% and the S&P 500's gain of 2.08%.Market participants will be closely following the financial results ...

POLAND - 2024/12/06: In this photo illustration, the Newmont company logo is seen displayed on a ... [+] smartphone screen. (Photo Illustration by Piotr Swat/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesNewmont Corporation (NYSE: NEM), the world’s largest gold miner, has seen its stock underperform since September end, falling by 33% compared to the S&P 500 which is up 1.8%. Newmont’s stock price movement is aligned with that for its peers, including Freeport-McMoRan (NYS ...

Cash harvesting sounds more like farming than mining, but that’s the point reached by goldmining companies which are awash with cash after three years of high gold prices.Top of the cash harvesting list, according to investment bank Goldman Sachs, is the world’s biggest miner of the precious metal Newmont Corporation.Gold ingots. Photographer: Andrey Rudakov/BloomberggettyUntil recently most investor interest in goldminers has been as proxies for the gold price which has risen by 30% over the last 12-months ...

Newmont Corporation’s (NEM) shares have lost 26.7% in the past three months, underperforming the Zacks Mining – Gold industry’s 12.6% decline. The bearishness partly reflects its weaker-than-expected earnings performance in the third quarter and concerns over higher production costs. While NEM gained from an uptick in average realized gold prices and sales volumes, higher unit costs weighed on its third-quarter performance.Technical indicators show that NEM has been trading below the 50-day simple moving av ...

Core Insights - The total assets for the world's 228 Metal & Mining ETFs reached approximately USD $330.7 billion at the end of 2024, marking a 13.1% increase from USD $292.4 billion at the end of 2023, primarily driven by gains in Gold Metal ETFs which constitute over 70% of the total assets [1][2]. ETF Performance - In 2024, the issuance of 5 new Metal & Mining ETFs occurred, while 2 ETFs were retired and delisted. The VanEck Uranium and Nuclear ETF, Franklin Responsibly Sourced Gold ETF, and the 6 India-listed Silver ETFs saw the largest percentage gains in shares outstanding, indicating significant new shareholder interest [2][5]. - Gold price gains were the main factor behind the top-performing ETFs in 2024, with the performance leaders being driven by this trend [2]. - Conversely, the continued selloff in battery metals negatively impacted Energy Transition ETFs, with two of the three worst performers being lithium producer ETFs [3]. Currency Impact on Gold ETFs - Currency depreciation significantly influenced the performance of unhedged Gold ETFs in 2024, with Turkish Lira, Canadian Dollar, and Japanese Yen denominated ETFs outperforming SPDR Gold Shares due to their respective currencies depreciating against the USD [4]. New ETF Launches - Five new Metal & Mining ETFs were launched in 2024, with four of them initiated by Canadian asset management firms specializing in natural resources [5][6]. - China AMC introduced a new Chinese Yuan listed gold company investment product, the China AMC Gold Industry Equity ETF, which invests in various international gold producers. Additionally, several other Chinese asset management companies are seeking permission to create new Gold Industry Equity ETFs [6]. Silver ETFs Growth - By the end of 2024, there were 19 Silver ETFs globally, with total assets exceeding USD $25.8 billion. The first Silver ETF was launched in 2006, and after a hiatus, 6 new Silver ETFs were introduced in 2022 and 2023, all listed in India [9][10]. - The six Silver ETFs trading on Indian exchanges experienced significant increases in shares outstanding during the second half of 2024, indicating a rise in investment from Indian silver investors. India surpassed Switzerland in Silver ETF assets, with expectations to exceed the UK in 2025 [10][11]. Market Trends - Metal & Mining ETF assets now hold more than 12 times the assets of Specialist Managed Funds, leading to potential mispricing in the junior market and a reduction in exploration spending traditionally supported by investment dollars now directed into ETFs [12].

Last March, I wrote an article titled Newmont Stock: A 'Once-In-A-Generation' Buy, where I quoted Newmont (NYSE: NEM ) (TSX: NGT:CA ) CEO's statement at the time that the stock was:If you want access to our Portfolios that have crushed the market since inception and all our current Top Picks, join us for a 2-week free trial at High Yield Investor.We are the fastest growing high yield-seeking investment service on Seeking Alpha with a perfect 5/5 rating from 180 reviews.Our members are profiting from our hig ...