Newmont falls 3.2% as gold cools and investors refocus on 2026 cost/volume outlook

Newmont Corporation (NEM) is down 3.2% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is a pullback in gold-linked equities as bullion softened amid a stronger U.S. dollar and heightened focus on the Federal Reserve’s policy decision. Newmont-specific sensitivity may also be tied to investors revisiting the company’s 2026 outlook, which flags lower gold volumes and higher all-in sustaining costs versus the prior year.

Details:

Gold prices have been choppy into the March 17–18 Fed meeting window, with dollar strength and “higher-for-longer” rate expectations often pressuring non-yielding assets and, by extension, gold miners.

Newmont’s February 2026 results package included 2026 guidance that implies a step-down in attributable gold production versus 2025, a setup that can magnify downside on days when gold sentiment turns risk-off.

The same guidance materials outlined higher 2026 cost expectations (including consolidated gold by-product AISC guidance around the mid-$1,000s per ounce level), which can weigh on margin expectations when gold prices stop rising.

If the broader materials/mining group sold off alongside bullion, passive and sector-level de-risking could have added to the move even without a single company-specific headline.

Sources:

Newmont, Reuters, VT Markets

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$NEM Insider Trading Activity

$NEM insiders have traded $NEM stock on the open market 7 times in the past 6 months. Of those trades, 0 have been purchases and 7 have been sales.

Here’s a breakdown of recent trading of $NEM stock by insiders over the last 6 months:

DAVID JOHN THORNTON (MD, Americas) sold 8,060 shares for an estimated $973,486
MARK C RODGERS (MD, Africa-Asia Pacific) has made 0 purchases and 2 sales selling 5,804 shares for an estimated $741,971.
BRUCE R BROOK has made 0 purchases and 3 sales selling 6,240 shares for an estimated $537,284.
THOMAS RONALD PALMER (CEO) sold 5,000 shares for an estimated $406,700

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$NEM Hedge Fund Activity

We have seen 860 institutional investors add shares of $NEM stock to their portfolio, and 736 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 24,039,434 shares (-75.0%) from their portfolio in Q4 2025, for an estimated $2,400,337,484
BLACKROCK, INC. added 7,642,703 shares (+6.2%) to their portfolio in Q4 2025, for an estimated $763,123,894
PACER ADVISORS, INC. removed 5,739,772 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $573,116,234
VAN ECK ASSOCIATES CORP added 5,643,496 shares (+23.4%) to their portfolio in Q4 2025, for an estimated $563,503,075
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 4,588,018 shares (+110.4%) to their portfolio in Q4 2025, for an estimated $458,113,597
PRICE T ROWE ASSOCIATES INC /MD/ removed 3,777,721 shares (-54.1%) from their portfolio in Q4 2025, for an estimated $377,205,441
JPMORGAN CHASE & CO removed 3,368,878 shares (-37.4%) from their portfolio in Q4 2025, for an estimated $336,382,468

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$NEM Congressional Stock Trading

Members of Congress have traded $NEM stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $NEM stock by members of Congress over the last 6 months:

REPRESENTATIVE VAL T. HOYLE sold up to $15,000 on 09/23.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$NEM Analyst Ratings

Wall Street analysts have issued reports on $NEM in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

UBS issued a "Buy" rating on 12/01/2025
CIBC issued a "Outperformer" rating on 10/10/2025
Raymond James issued a "Outperform" rating on 09/23/2025

To track analyst ratings and price targets for $NEM, check out Quiver Quantitative's $NEM forecast page.

$NEM Price Targets

Multiple analysts have issued price targets for $NEM recently. We have seen 7 analysts offer price targets for $NEM in the last 6 months, with a median target of $125.0.

Here are some recent targets:

Alexander Hacking from Citigroup set a target price of $150.0 on 03/03/2026
Bob Brackett from Bernstein set a target price of $157.0 on 02/27/2026
Tanya Jakusconek from Scotiabank set a target price of $152.0 on 01/26/2026
Daniel Major from UBS set a target price of $125.0 on 12/01/2025
Michael Jalonen from B of A Securities set a target price of $115.0 on 10/16/2025
Anita Soni from CIBC set a target price of $112.0 on 10/10/2025
Brian MacArthur from Raymond James set a target price of $84.0 on 09/23/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.