On August 10, Newmont Mining rose 3.04% in regular trading, trading at $116.365/share, with turnover of $490 million. The rally was driven by a combination of a highly favorable Nevada asset deal and continued gold price strength.

Newmont and Barrick Mining announced they have agreed to contribute excluded properties — including Barrick's Fourmile and Newmont's Fiberline and Mike developments — to the Nevada Gold Mines joint venture, resolving all outstanding disputes. Under the agreement, Newmont will pay Barrick $1.95 billion. TD Cowen analyst Steven Green noted the price paid is far below his estimated $6.6 billion implied value for Newmont's 38.5% interest in the Fourmile project alone, projecting approximately $4.7 billion in value creation for Newmont. The arrangement is also expected to save the joint venture over $1 billion by leveraging existing infrastructure.

Additionally, spot gold prices continued to climb near one-month highs, providing further tailwinds to the sector. Goldman Sachs trading desk previously recommended buying gold on dips, citing solid support near $4,000 and structural demand from central bank purchases. Most investment banks maintain buy ratings on Newmont with an average target price of approximately $132.

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