Why is newmont stock falling

For many investors, the main point of stock picking is to generate higher returns than the overall market.

Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources , and more. Learn More. As part of the acquisition , Newcrest shareholders at the time received 0. When we covered Newmont shares' first week on Monday, Newmont had performed decently, albeit with a bit of volatility along the way. But fast forward to today, and the picture is a lot bleaker for the Newmont share price.

Why is newmont stock falling

Newmont is the world's biggest gold miner following the acquisition last year of Newcrest. Newmont Corp. The Denver-based company closed its acquisition of Australia's Newcrest Mining in November and is now taking a hard look at its assets and projects with a view to maximizing profit. Copper is an attractive commodity right now given its use in EVs and renewable-energy infrastructure. Newcrest has added five active mines and two advanced projects to Newmont's global footprint, which includes mines in Ghana, Canada and Australia. See also: Alcoa's stock rocked after Trump's threat of high tariffs on Chinese imports. The company is planning to focus on its Tier 1 portfolio, which includes 11 managed Tier 1 and emerging Tier 1 assets and three non-managed operations. The company is expecting to produce 6. But it lowered its quarterly dividend to 25 cents from 40 cents previously. The dividend is payable March 28 to shareholders of record as of March 5. Excluding one-time items, per-share earnings came to 50 cents, ahead of the cent FactSet consensus. The company also completed the transition of its COO after a five-month handover period. Morningstar brands and products.

By Ciara Linnane Newmont is the world's biggest gold miner following the acquisition last year of Newcrest Newmont Corp.

FY24 Outlook : The company expects gold production of around 6. Price Action : NEM shares are down 7. Benzinga does not provide investment advice. All rights reserved. Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about. My Account My Account. Benzinga Research.

Meanwhile, the Dow experienced a rise of 0. The the stock of gold and copper miner has risen by 2. The investment community will be paying close attention to the earnings performance of Newmont Corporation in its upcoming release. This would mark year-over-year growth of Investors might also notice recent changes to analyst estimates for Newmont Corporation. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Why is newmont stock falling

FY24 Outlook : The company expects gold production of around 6. Price Action : NEM shares are down 7. Benzinga does not provide investment advice. All rights reserved. Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about. My Account My Account. Benzinga Research.

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Price Target. IPO Calendar. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Invest in Art. Largest Increase. All rights reserved. Extraordinary items contributed to this situation. We simplify the market for smarter investing. Free Newsletter. That's why even a small fall in the value of gold can send investors fleeing ASX gold shares. So what's going so wrong for this ASX newcomer this week? But let's see what happens.

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Scott Phillips just released his 5 best stocks to buy right now and you could grab the names of these stocks instantly! Of course, this works in reverse, too, with any rises in the gold price delivering exponential increases in gold miners' profitability. March 5, James Mickleboro. Global Economics. Click to get this free report. Long Ideas. NFT Release Calendar. Vix Benzinga does not provide investment advice. The price of gold has fallen dramatically this week. Stock Apps. Dow Futures 39, Russell Futures 2,