Newmont Goldcorp Corp. NEM, +1.54% said Monday it has set a $1 billion stock repurchase program, to be completed in the next 12 months. Based on Friday’s stock closing price of $38.40, the program implies the buyback of up to 26 million shares, or about 3.2% of the shares outstanding. The stock rose 0.3% in morning trading. The gold miner also said Monday that it expects 2020 attributable gold production of 6.7 million ounces at an all-in sustaining cost of $975 per ounce, compared with the FactSet gold production consensus of 6.98 million ounces. Gold futures GC00, -0.56% were down 0.6% at $1,463.60 an ounce in early trading. Longer term, Newmont expects attributable gold production of between 6.5 million to 7.0 million ounces through 2024. Newmont’s stock has rallied 11.1% year to date, while the VanEck Vectors Gold Miners ETF GDX, -0.09% has run up 28.0% and the S&P 500 SPX, -0.57% has climbed 25.3%.