Movement Alert｜Newmont Mining Falls 3.02% Overnight, Jefferies Cuts Target Price Amid Broad Gold Sector Weakness

Market Focus05-28

On May 28, Newmont Mining fell 3.02% in after-hours trading, trading at $103.98 per share, with trading volume of $2.841 million, extending the decline from the prior trading session.

On the news front, Jefferies recently lowered its target price on Newmont from $165 to $154, a reduction of 6.7%, while maintaining a Buy rating. The downward revision reflects a more cautious near-term valuation outlook from institutional analysts. According to FactSet data, the consensus average target price for Newmont stands at $146.62. The target price cut appears to have exerted additional selling pressure on the stock, with Newmont underperforming the broader gold sector.

Within the Gold sector where Newmont belongs, stocks declined broadly. Among individual stocks, Coeur Mining down 2.47%, Pan American Silver down 2.27%, Barrick Mining Corporation down 1.43%, Anglogold Ashanti down 1.40%, Agnico Eagle Mines down 1.09%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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