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 Corporation’s stock is sliding as investors react to the sudden suspension of underground operations at its Cadia mine in Australia after a 4.5 magnitude earthquake and ongoing seismic activity. The halt at one of Newmont’s key production hubs is raising concerns about near-term output and operational risk.
Selling pressure is being intensified by a broader pullback in global gold prices, as renewed optimism over potential diplomatic progress in the Middle East tempers demand for safe-haven assets like gold. With both company-specific disruption and a weaker commodity backdrop, Newmont has emerged as one of today’s notable losers on the market.
More about Newmont Mining
YTD Price Performance: 19.72%
Average Trading Volume: 10,715,312
Technical Sentiment Signal: Buy
Current Market Cap: $126.7B
For further insights into NEM stock on TipRanks’ Stock Analysis page.
See more of today’s top stock gainers and losers.