Movement Alert｜Newmont Mining Falls 3.09% Overnight, Gold Sector Weakness Compounded by Investment Bank Target Price Cuts

Market Focus06-23 13:32

On June 23, Newmont Mining declined 3.09% overnight, trading at $98.66/share, with turnover of $2.0734 million.

On the news front, the gold sector extended selling pressure from the prior session, with industry peers broadly declining. Coeur Mining fell 2.58%, Wheaton Precious Metals dropped 2.14%, and AngloGold Ashanti slid 1.73%, reflecting significant sector-wide headwinds. Additionally, multiple investment banks recently lowered their target prices on Newmont — BNP Paribas cut its target from $128 to $111 while maintaining a neutral rating, and Macquarie reduced its target from $133 to $123. According to FactSet, the analyst consensus still holds an average overweight rating with a mean target of $144.68, but the continued downward revisions have compressed valuation expectations and added further pressure on the stock.

(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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