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Newmont Slides as Gold Declines

Shares in gold miner Newmont Goldcorp fell 5.1% in New York trading today, as gold prices also declined following the recent hot US inflation data, leaving the stock below its 52-week high.

Newmont Goldcorp (NYSE: NEM), the gold miner, was down 5.1% at $118.79 in New York trading by 8.29pm in London today. The shares have traded between $118.19 and $120.43 in the session so far, leaving the last price close to the bottom of that range.

The fall leaves Newmont 11.9% below its 52-week high and 46.2% above its 52-week low. The shares are still up 19.7% so far this year.

Line chart of Newmont's daily closes over the past month, with today's fall marked at the right edge
Newmont’s daily closes over the month to today, with the latest session’s fall marked (latest point a delayed quote at 20:29 London time).

How unusual this is

Newmont last moved by 5% or more on 30 October. Today’s fall is drawn below against the past six months of daily share price changes.

Chart of Newmont's daily share price changes over six months, with today's fall highlighted in colour
Newmont’s daily share price changes over six months, with today’s fall in colour.
NEM.US

The context

The stock fell as gold prices also declined today, following the recent hot US inflation data. Separately, Newmont’s third-quarter by-product all-in sustaining costs, the full cost of producing an ounce, were $1,454 an ounce.

Newmont has cut its 2026 guidance for those costs to $1,520 an ounce from $1,680, and set its by-product costs applicable to sales guidance at $925 an ounce.

Asktraders News Team
Asktraders News Team
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The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.

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