Newmont (NEM) Completes Divestment Plan

Newmont Corporation (NYSE:NEM) is one of the 10 Best Gold Stocks To Buy Right Now. On April 16, Newmont Corporation (NYSE:NEM) reported that it has completed its non-core divestiture program after finalizing the previously disclosed sales of its Akyem operation in Ghana and its Porcupine operation in Canada.

The company had announced its divestiture program in February 2024. Newmont Corporation (NYSE:NEM) has now divested all six of its non-core operations. Tom Palmer, the President and Chief Executive Officer of Newmont Corporation (NYSE:NEM) pointed out that the cash proceeds from these sales will help strengthen the company’s balance sheet and return capital to shareholders through ongoing share buybacks.

Newmont Corporation (NYSE:NEM) expects to see total gross proceeds of up to $4.3 billion from the divestitures. This includes $3.8 billion from selling the non-core operations and $527 million from the sale of other investments.

Newmont Corporation (NYSE:NEM) is an American gold mining company and a producer of copper, zinc, lead, and silver. It is one of the world’s largest gold mining companies.

While we acknowledge the potential of NEM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds.

Disclosure: None.