Newmont Corporation (NEM) closed at $42.04 in the latest trading session, marking a +0.21% move from the prior day.
Newmont Corporation (NEM) reachead $41.68 at the closing of the latest trading day, reflecting a -1.58% change compared to its last close.
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Newmont (NEM) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
In the most recent trading session, Newmont Corporation (NEM) closed at $41.65, indicating a +0.68% shift from the previous trading day.
Newmont Corporation (NYSE: NEM), the world's largest gold miner, has seen its stock underperform since September end, falling by 33% compared to the S&P 500 which is up 1.8%. Newmont's stock price movement is aligned with that for its peers, including Freeport-McMoRan (NYSE: FCX) which is down 24%, Barrick Gold (NYSE: GOLD) which is down 27%, and VALE (NYSE: VALE) which is down 28% during the same period.
Cash harvesting sounds more like farming than mining, but that's the point reached by goldmining companies which are awash with cash after three years of high gold prices.
NEM remains hamstrung by higher production costs, which has contributed to its underperformance.
I discussed NEM's merits as a 'Once in a generation buy' last March. The stock surged by 75% following that article until late October 2024. However, it has recently dropped by over 33%.
Newmont: This Is How We Are Betting On Gold
In the latest trading session, Newmont Corporation (NEM) closed at $38.11, marking a -0.68% move from the previous day.
The glitter of gold is losing its luster for two mining giants, Barrick Gold Corp GOLD and Newmont Corp NEM, as both stocks have hit a technical Death Cross —a bearish signal when the 50-day moving average falls below the 200-day moving average.