Movement Alert|Newmont Mining Falls 3.01% in Regular Trading, Jefferies Cuts Target Price to $154

Market Focus05-27

On May 27, Newmont Mining declined 3.01% in regular trading, trading at $108.14 USD/share, with trading volume of $142 million.

On the news front, Jefferies lowered its price target on Newmont from $165 to $154 while maintaining a Buy rating. According to FactSet, analysts assign Newmont an average rating of Overweight with a mean price target of $146.62. The target price reduction comes after the stock had rallied sharply on May 26, gaining 3.46% in regular trading and an additional 4.31% overnight.

Within the Gold sector where Newmont Mining belongs, individual stocks declined broadly. Among peers, Barrick Mining Corporation fell 1.59%, Coeur Mining fell 1.93%, Pan American Silver fell 2.37%, Agnico Eagle Mines fell 2.0%, and AngloGold Ashanti fell 2.5%.

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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