Newmont Stock Slides Sharply After Financial Chief Resigns

The Colorado-based gold miner is beginning the search for a permanent chief financial officer. (Photograph by Dado Galdieri/Bloomberg)

Newmont stock fell sharply Tuesday after the Colorado-based gold miner disclosed that its chief financial officer had resigned.

Karyn F. Ovelmen, who had served as financial chief at Newmont since 2023, tendered her resignation last Friday and will leave the company on July 25, Newmont said in a Securities and Exchange Commission filing. The company didn’t disclose the reason for Ovelmen’s departure but said it wasn’t due to disagreements over operations, financial reporting, or accounting.

Newmont appointed Peter Wexler, the company’s current chief legal officer, as interim chief financial officer. Wexler also will continue in both roles while the company begins a search for Ovelmen’s permanent replacement.

Newmont finished Tuesday down 5.7%, making it one of the worst performers in the S&P 500 .

The news comes on a largely downcast day for gold and gold-mining stocks. Peers Barrick Mining, Agnico Eagle Mines , and Franco-Nevada all fell less than 1% on Tuesday. Front month gold futures dipped 0.65% to $3329.80, according to Dow Jones Market Data.

Gold miners have enjoyed a banner year as investors flocked to bullion as a safe-haven amid global trade uncertainty. Newmont remains up more than 54% since the start of 2025.

Write to Nate Wolf at nate.wolf@barrons.com