Newmont Mining ( (NEM) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Newmont Mining shares are under pressure even as Wall Street turns more optimistic on the miner’s future. Investors appear cautious about the company’s aggressive spending plans and the risks tied to its latest growth push.
Analysts have been raising their price targets, with Citi lifting its goal to $150 per share. Newmont has also announced an $800 million investment in Argentina’s Cerro Negro project, signaling a bold expansion strategy despite the recent stock slide.
More about Newmont Mining
YTD Price Performance: 28.92%
Average Trading Volume: 9,640,357
Technical Sentiment Signal: Buy
Current Market Cap: $140B
For further insights into NEM stock on TipRanks’ Stock Analysis page.
See more of today’s top stock gainers and losers.