RING

The Week

Newmont (NEM) fell 2.74% this week to $127.98, underperforming the S&P 500 by about 3.23 percentage points as the benchmark rose 0.49%. The stock opened Monday at $133.40, dipped to $129.16 during the session and closed at $131.84. Tuesday brought the week’s high of $135.29 before a $135.14 close. The following three sessions shifted lower: Wednesday closed at $131.60, Thursday at $132.29, and Friday opened at $132.35 but slid to a weekly low of $127.11 before settling at $127.98. Weekly amplitude came to 6.13%, with average daily volume of 7.86m shares broadly in line with the 60-day median. Price sits near the top of a 60-day range spanning $88.75 to $135.29, with the 20-day moving average at $118.98 and the 60-day at $103.90.

Key Events

The corporate calendar was light, with the main company-specific item arriving Monday after the close: Newmont’s weekly recap disclosed quarterly production of 1.3m ounces and $1.9bn returned to shareholders, alongside the appointment of Peter Beaven to the board. On Wednesday, Newmont touched a record high as gold neared $4,500 an ounce, marking the week’s emotional peak. After in-line US inflation data on Thursday, gold miners pulled back and Newmont underperformed its peer group. Friday extended the sell-off with a 3.48% single-day drop, and Transamerica Financial Advisors LLC was disclosed to have trimmed its holding. The story of the week is one of fading momentum: solid operating figures from the company collided with broad-based profit-taking across the gold-mining complex.

Analyst Ratings

Coverage stands at 23 firms: 15 rate it buy, 5 overweight, 2 hold and 1 sell. The consensus rating is buy, with a consensus target of $132.87, about 3.82% above the latest price of $127.98. Targets span a very wide range from $67.00 to $170.00, signalling large disagreement about the earnings trajectory. Within the gold industry group of 49 companies, Newmont ranks second on analyst ratings, placing it near the top of the peer set.

The Week Ahead

Next week brings a run of US macro releases. Monday sees the Dallas Fed manufacturing activity index (prior 1.3). Tuesday packs the S&P Global manufacturing PMI final reading (prior 53.2), ISM manufacturing PMI (prior 55.6, consensus 55.2) and JOLTS job openings (prior 7.359m, consensus 7.3m). Wednesday adds ADP private payrolls (prior 440k, consensus 470k), factory orders (prior -0.3%, consensus 0.6%) and the weekly EIA crude inventory report. Gold is sensitive to inflation and rate expectations, so the strength of manufacturing and labour data will feed through the real-rate channel into bullion and, in turn, into miner share prices.

In Short

Newmont’s week was a high-level pullback: the stock hit a record high as gold approached $4,500, then gave back gains as the sector took profits, closing Friday down 3.48% and the week down 2.74%. Valuation sits at 16.08x P/E and 3.92x P/B, with turnover of 0.82% on the latest session and large-lot money acting as a net seller in that same session. The analyst picture skews constructive, with 20 of 23 brokers rating the stock buy or overweight and the consensus target above spot. What to watch next: whether gold can hold recent levels, and how US manufacturing and jobs data shift real-rate expectations—these inputs will determine the depth and duration of the pullback across mining equities.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.