Newmont appoints new Chief Technology Officer

Newmont Corporation (NYSE: NEM) said that it had appointed Francois Hardy as its next Chief Technology Officer, effective May 1st.

Hardy will take over from interim CTO, Dean Gehring, who also assumed a dual role of Chief Integration Officer.

Hardy has over three decades of technical and operational experience in mining.

He joined Newmont in 2002 and has been in a variety of roles, including Group Head Exploration, Managing Director Africa and General Manager Tanami.

“Francois is a strong leader with deep technical experience and a demonstrable track record of improving operating performance. His appointment will further strengthen Newmont’s Executive Leadership Team, adding valuable technological expertise which will be central to our ongoing success as a business,” Tom Palmer, President and Chief Executive Officer of Newmont Corp, said in a press release.

Stock Performance

The shares of Newmont Corporation (NEM) closed 1.22% ($0.47) higher at $39.02 in New York on Friday, as they reversed a small loss from the previous market session.

The company’s total market cap now stands at $44.982 billion.

The shares of Newmont Corporation (NEM) went down 12.31% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).

The company’s shares have retreated 5.73% so far this year.

Analyst stock price forecast and recommendation

According to TipRanks, at least 7 out of 13 surveyed investment analysts had rated Newmont Corp’s stock as “Hold”, while 5 – as “Buy”. The median price target on the stock stands at $43.68, which translates into an 11.94% upside compared to the closing price on Friday.

The high point of the analyst forecast range stands at $55.00.