Editor’s Note
Newmont Corp shares fell sharply on Thursday, closing down roughly 7% amid a volatile trading session for the precious-metals sector.
Shares of Newmont Corp ended Thursday roughly 7% lower, settling at $108.53. The stock bounced sharply throughout the day, ranging from $103.53 up to $115.55, amid a choppy pullback in the precious-metals sector.
Silver plunged as much as 15%, while gold and oil each slipped about 2% amid a broad commodity sell-off. The drop came as some geopolitical risk premiums unwound following news that Washington and Tehran agreed to hold talks. U.S. and Chinese leaders also had what Reuters called a positive call.
The selloff spilled into Friday in Asia, with spot gold slipping 0.7% to $4,735.99 an ounce and spot silver tumbling 3.2% to $68.97 as of 0037 GMT, following steep drops the day before. A firmer dollar and a worldwide tech stock selloff weighed heavily.
U.S. stocks took a hit Thursday, setting a risk-off mood. The S&P 500 slid 1.23%, the Dow shed 1.20%. Newmont lagged behind peers like Royal Gold, with trading volume exceeding its recent average. The stock stayed well below its late-January peak.
Newmont announced Thursday that a worker died after an incident at its Tanami mine in Australia’s Northern Territory on Wednesday. The company triggered emergency response protocols, alerted authorities, and halted all operations at the site as it launches an investigation.
The sector is also absorbing new developments from competitors. Barrick Mining announced plans to push forward with an IPO of its North American gold assets by late 2026. The company appointed Mark Hill as CEO, shining a spotlight on major regional holdings amid volatile bullion prices affecting valuations.
Macro traders are zeroing in on the U.S. jobs data for clues on whether the dollar and rate expectations might ease.
The Labor Department has rescheduled the delayed January employment report for Feb. 11.
That same leverage that punishes miners on down days can also swing in their favor if bullion steadies or climbs back. Should the dollar weaken and safe-haven buying pick up, the sector might rebound sharply. On the flip side, if the metal sell-off intensifies, the following slide usually comes swiftly.
Next on the docket: Newmont’s catalyst calendar. The miner plans to release its Q4 and full-year 2025 earnings after U.S. markets shut on Feb. 19. A conference call follows at 5:30 p.m. ET.