08:54 AM EDT, 09/11/2024 (MT Newswires) -- Newmont ( NEM ) maintained its Sector Perform rating and US$54 price target at RBC Capital Markets after the company agreed to sell the Telfer and Havieron gold projects in Australia for US$475 million, according to a note published Tuesday.

The deal includes US$208 million in cash, US$168 million in equity and up to US$100 million in deferred contingent cash. RBC said the sale price was "modestly favorable" to Newmont ( NEM ) but anticipates no material changes to its forecasts.

The transaction is part of Newmont's ( NEM ) US$2.0 billion non-core asset divestiture program, which may also include the Akyem asset.

Newmont's ( NEM ) share price was down 0.6% at last look to US$50.98 in NYSE pre-market trading.