The Newmont Corp (ASX: NEM) share price is charging higher today.
Shares in the S&P/ASX 200 Index (ASX: XJO) gold stock closed on Friday trading for $119.21. In late morning trade on Monday, shares are changing hands for $125.10 apiece, up 4.9%.
For some context, the ASX 200 is up 0.5% at this same time, with most ASX gold miners enjoying a day of strong outperformance amid further gains in the gold price.
As you may know, Newmont shares first listed on the ASX on 27 October 2023. That came after the acquisition of the ASX 200 gold stock Newcrest Mining.
Here's what's spurring renewed investor interest today.
Image source: Getty Images
Newmont share price shines bright on major divestment
In an announcement this morning deemed non-price sensitive, Newmont reported that it has completed the sale of its shares in gold and silver miner Orla Mining Ltd (TSE: OLA).
Newmont said it sold 43 million shares via the Toronto Stock Exchange for aggregate gross proceeds of US$439 million (AU$666.7 million).
Prior to the divestment that looks to be helping boost the Newmont share price today, the ASX 200 gold miner held 13.3% of Orla Mining shares. Following this divestment, Newmont said it no longer holds any common shares of Orla.
What did management say?
Commenting on the divestment that's throwing up some tailwinds for the Newmont share price on Monday, CEO Tom Palmer said, "Today's announcement demonstrates Newmont's ongoing commitment to streamlining our equity portfolio and unlocks significant cash to support Newmont's capital allocation priorities."
Palmer continued:
We value the strong relationship we've had with Orla since our initial investment. From the development of Camino Rojo to the acquisition of Musselwhite from Newmont early this year, we are delighted to have been part of Orla's beginning.
While this marks the end of our ownership in Orla, we are confident in their continued ability to drive value for shareholders.
Orla CEO Jason Simpson added:
Orla's portfolio has been built, in part, through the acquisition of former Newmont assets. We are grateful for the confidence placed in us to advance these projects responsibly and to unlock their full potential.
As we continue to execute on our growth strategy, we remain focused on creating long-term value for our stakeholders while broadening and diversifying our investor base.
Newmont share price snapshot
The Newmont share price has more than doubled so far in 2025, currently up a whopping 107.5%.
Part of that stellar performance has been driven by the surging gold price, with the yellow metal repeatedly setting new all-time highs. Gold is currently fetching US$3,690 per ounce.
Newmont has also impressed investors with its strong operational results.
At its quarterly results, released on 25 July, the ASX 200 gold stock reported adjusted net income for the three months of US$1.6 billion, up 92% year on year.
Newmont received an average realised gold price of US$3,320 per ounce over the quarter, an increase of US$376 per ounce from the prior quarter.
