Newmont Mining ( (NEM) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Newmont Mining’s stock experienced a dip due to recent volatility and a pullback in gold prices, despite the company reporting strong Q3 financial results that exceeded Wall Street expectations. Analysts remain optimistic, considering the dip temporary and maintaining a positive long-term outlook on gold. Scotiabank has upgraded Newmont’s rating, anticipating improved performance and an attractive valuation due to increased gold price forecasts.
More about Newmont Mining
YTD Price Performance: 137.08%
Average Trading Volume: 11,064,549
Technical Sentiment Signal: Buy
Current Market Cap: $94.82B
For further insights into NEM stock on TipRanks’ Stock Analysis page.
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