On June 22, Newmont declined 3.18% in regular trading, trading at $101.685/share, with turnover of $87.72 million. The gold mining sector faced broad selling pressure, dragging down Newmont alongside its peers.
On the news front, the gold sector experienced a collective downturn, with significant declines across major miners. Alamos Gold fell 15.05%, Gold Fields dropped 10.26%, and AngloGold Ashanti slid 5.69%, reflecting pronounced sector-wide selling. The weakness underscores fading momentum in precious metals equities after a period of strength earlier in the month.
Adding to the bearish sentiment, multiple investment banks recently lowered their price targets 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 while retaining an outperform rating. Despite the downgrades, the FactSet consensus mean target remains at approximately $144.68 with an average overweight rating, suggesting the Street broadly still sees upside from current levels even as near-term expectations moderate.
(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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