The Week

Newmont closed at $126.81 this week, down 1%, while the S&P 500 fell 0.8%. The stock underperformed the benchmark by about 0.2 percentage points. Daily moves were choppy: Tuesday opened lower and rallied to an intraday high of $130.035, Wednesday touched the week’s high at $130.48 before fading, Thursday dropped to $123.74, and Friday recovered to close near $126.81. Weekly amplitude was 5.33%. Average daily volume came in at 7.11m shares, about 8% below the 60-day median, suggesting muted turnover.

Key Events

The week’s news flow centred on gold prices and rate expectations. On 8 September, commentary noted that bond yields were pressuring gold, though miners could tell a different story. On 10 September, a softer US dollar lifted bullion slightly and gold miners followed, with Newmont outperforming some peers. Later, US inflation data boosted Fed hike bets, and gold prices slipped, dragging gold miners lower. On the company side, Bernstein kept its buy rating on Newmont on 9 September, and Newmont adjusted CDI and common stock balances across ASX and NYSE. NEOS Investment Management LLC disclosed a purchase of 177,151 Newmont shares.

Analyst Ratings

Across 23 brokers covering Newmont, 15 rate it buy, 5 rate it overweight, 2 rate it hold, and 1 rates it sell; the consensus rating is buy. The consensus target price is $132.87, implying about 4.8% upside from the current price. Targets range from $67 to $170, reflecting wide dispersion. Among 49 gold-industry stocks, Newmont ranks 2nd in analyst rating, a relatively high level of coverage attention.

The Week Ahead

The macro calendar is busy next week. The New York Fed manufacturing index is due on 15 September, with a prior reading of 20.6 and a consensus forecast of 14.75. On 16 September, a batch of US data will be released: retail sales, retail sales excluding autos, retail control, import price index, NAHB housing market index, and EIA weekly crude inventories. These releases could continue to shape market pricing of the Fed’s rate path, feeding into gold and gold miners.

In Short

Analyst ratings lean positive and the consensus target sits above spot, with Newmont ranked second in its industry. Yet the stock still slipped this week and volume ran below the median, showing limited buying conviction. Gold prices and rate expectations remain the dominant swing factor. Next week’s retail and inflation-related data will show whether the current split in rate pricing narrows, setting a clearer near-term direction for gold miners.

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