Movement Alert｜Newmont Falls 3.31% in Pre-Market Trading, Gold Sector Weakness Compounded by Multiple Investment Bank Target Price Cuts

On June 24, Newmont fell 3.31% in pre-market trading, trading at approximately $95.22/share, with turnover of $958,400.

On the news front, the gold sector continued to face selling pressure, with industry peers declining broadly. AngloGold Ashanti fell 5.10%, Coeur Mining dropped 2.33%, and Kinross Gold declined 2.28%, reflecting significant sector-wide weakness. Meanwhile, multiple investment banks recently cut their target prices on Newmont — BMO Capital lowered its target from $145 to $135 while maintaining an outperform rating, BNP Paribas reduced its target from $128 to $111 with a neutral rating, and Macquarie trimmed its target from $133 to $123. The consensus valuation expectations have continued to converge downward, adding further pressure to the stock.

Notably, Newmont recently received regulatory approval from British Columbia for its Red Chris Block Cave project, which would extend the mine life into the mid-2040s, with a final investment decision expected later this year. However, near-term sector selling pressure continues to dominate market sentiment.

(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.)