Newmont Stock Drops 1.55% on 7.93 Billion Volume Day, Ranks 93rd in Trading Volume

On April 17, 2025, Newmont Corporation (NEM) experienced a significant decline in its stock price, dropping by 1.55%. The trading volume for the day was 7.93 billion, marking a 22.81% decrease from the previous day. This placed Newmont at the 93rd position in terms of trading volume for the day.

Newmont Corporation has successfully concluded its non-core divestiture program, which involved the sale of its Akyem mine in Ghana and the Porcupine operation in Canada. The company generated approximately $850 million in after-tax cash proceeds from these sales, which were part of a broader portfolio optimization initiative. This initiative was launched following the merger with Newcrest and aimed to raise up to $4.3 billion in gross proceeds, with $3.8 billion coming from non-core asset sales and $527 million from other investment disposals.

The divestment of these assets has strengthened Newmont's balance sheet and enabled the continuation of its share repurchase program. The Akyem mine was sold to China-based Zijin Mining, while the Porcupine Complex was acquired by Canadian precious metals company Discovery Silver. As part of the Porcupine deal, Newmont received 119.7 million common shares in Discovery, representing an approximate 15% stake in the company. These shares are held via Newmont's wholly owned subsidiary, Goldcorp Inc.

Discovery Silver has ambitious plans for the Porcupine Complex, which includes several high-grade mines and projects in Ontario's prolific Timmins gold camp. The company's recent technical report estimated average annual production of over 285,000 ounces of gold for the next 10 years, with total production extending to 2046. Discovery aims to enhance production and improve operational margins.

Newmont's stock has been a subject of interest for investors and analysts, particularly as gold prices surged over 27% year-to-date, driven by economic uncertainty, central bank demand, and a weaker U.S. dollar. The current gold price level of over $3,300 per ounce represents nearly double Newmont's 2024 average all-in sustaining cost of $1,620 per ounce, providing a wide margin that supports long-term profitability.