Newmont Mining ( (NEM) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Newmont Corporation shares are under heavy pressure after its third-quarter 2024 earnings badly missed Wall Street estimates, despite support from record-high gold prices. Investors are focused on a sharp squeeze in profitability as all-in sustaining costs jumped to $1,611 per ounce and production fell at key assets like Lihir and Cerro Negro.
The disappointing results have turned Newmont into one of today’s notable laggards, with traders reassessing the stock’s near-term outlook and risk profile. The market is now questioning how quickly management can rein in costs and restore output growth at its core mines to protect margins going forward.
More about Newmont Mining
YTD Price Performance: -3.86%
Average Trading Volume: 10,204,118
Technical Sentiment Signal: Buy
Current Market Cap: $104.2B
For further insights into NEM stock on TipRanks’ Stock Analysis page.
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