Movement Alert|Newmont Mining Rises 3.07% in Regular Trading, Gold Sector Rebounds After Fed Rate Hike Lands

Market Focus
Sep 17

On September 17, Newmont Mining rose 3.07% in regular trading, trading at 125.375 USD/share, with turnover of approximately 117 million USD.

On the news front, the Federal Reserve announced a 25-basis-point rate hike earlier in the day, lifting the federal funds rate to 3.75%–4.00% — the first hike since July 2023. The move had been fully priced in by the market. The gold sector initially sold off broadly but quickly stabilized and rebounded as trading logic shifted toward a classic sell-the-news pattern. Spot gold earlier surged past 4,370 USD/ounce, providing a tailwind for mining equities.

In addition, multiple investment banks recently raised their target prices on Newmont Mining. Royal Bank of Canada lifted its target from 135 USD to 155 USD, maintaining an Outperform rating, while Goldman Sachs raised its target from 110.60 USD to 127.50 USD, maintaining a Buy rating. FactSet consensus shows an average Overweight rating with a mean target price of approximately 138.67 USD.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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