Newmont (NEM) Stock Slides As Warsh Fed Pick Triggers Sharp Gold Selloff

Benzinga_recent_news01-31 01:25

Newmont Corporation (NYSE:NEM) shares are trading lower Friday morning after President Donald Trump nominated former Federal Reserve governor Kevin Warsh to succeed Jerome Powell as Fed chair in May ...

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Traders likely see Warsh as less friendly to ultra-easy policy.\nGold, tracked by SPDR Gold Trust (NYSE:GLD), is trading over 6% lower Friday morning. Here’s what investors need to know.\nWarsh is widely viewed as more skeptical of ultra-easy monetary policy than current chair Jerome Powell. As a former Fed governor and key player during the 2008 crisis, he has criticized prolonged near-zero rates and large-scale asset purchases. \nMarkets interpret his nomination as a signal that the Fed could keep real interest rates higher for longer and be slower to cut aggressively in future downturns.\nTo many on Wall Street, Warsh’s track record potentially signals a Fed that is less likely to slash interest rates aggressively, helping to calm recent worries that political pressure could erode the central bank's independence.\nFor Newmont, weaker realized gold prices feed directly into lower revenue, slimmer margins and reduced free cash flow, especially at higher-cost operations. \nBecause miners' profits are leveraged to bullion prices, a mid-single-digit decline in gold can translate into much larger percentage moves in earnings and equity valuations.\nHolders of NEM should monitor Fed commentary from Warsh, the path of the dollar index and whether gold stabilizes after Friday's rout, as these factors are likely to drive the stock's next move.\nBelow is the Benzinga Edge scorecard for Newmont, highlighting its strengths and weaknesses compared to the broader market:\nThe Verdict: Newmont’s Benzinga Edge signal reveals a strong momentum score, indicating that the stock is currently outperforming the broader market. However, the neutral value score suggests that while the stock is performing well, it is not significantly undervalued, which may warrant caution for new investors.\nNEM Price Action: Newmont shares were down 9.64% at $114.68 at the time of publication on Friday, according to Benzinga Pro data.\nImage: Shutterstock\nThis content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2607233560","isCrawlerRequest":true}