NEW YORK, December 30, 2025, 13:00 ET — Regular session
- Newmont shares rose about 2.7% in midday trading as gold prices steadied after Monday’s rout.
- A Raymond James target hike added support after the stock’s sharp pullback a day earlier.
- Traders are watching the Fed’s December minutes later Tuesday for clues on the 2026 rate path.
Newmont Corp shares rose 2.7% to $102.48 by 12:44 p.m. ET on Tuesday, after trading between $100.31 and $102.70. Volume stood at about 3.36 million shares.
The move mattered because it followed a sharp reversal in precious metals and mining stocks on Monday, when Newmont was the worst-performing stock in the S&P 500, down nearly 6%. CME’s higher margin requirements — the cash traders must post to hold futures positions — added to the pressure across metals-linked trades. 1
Gold’s direction remains the main macro driver for the sector at year-end. Spot gold was up 0.9% at $4,369.59 an ounce by 11:29 a.m. ET, after Monday’s biggest daily percentage drop since Oct. 21, following Friday’s record high of $4,549.71, Reuters reported. “Things have stabilised somewhat today; the trade remains generally favourable,” said Peter Grant, vice president and senior metals strategist at Zaner Metals. Investors are also focused on the Federal Reserve’s December meeting minutes due later Tuesday. 2
Analyst commentary stayed constructive despite the volatility. Raymond James raised its price target on Newmont to $111 from $99 and kept an “Outperform” rating after updating forecasts for fourth-quarter gold prices, TheFly reported. 3
The broader gold complex moved higher as well. The VanEck Gold Miners ETF rose 2.2% and SPDR Gold Shares gained 0.7%, while peers Agnico Eagle Mines added 1.1% and Hecla Mining climbed 2.9% in midday trading.
Newmont, one of the world’s largest gold producers, often trades as a high-beta proxy for bullion because its cash flow can swing sharply with the gold price.
That linkage is especially visible when price action gets choppy. Miners can rise faster than gold on the way up — and fall faster on the way down — because investors reprice future profits and dividends off the metal.
Gold is also “non-yielding,” meaning it does not pay interest. That makes rate expectations crucial: when bond yields rise, holding bullion can look less attractive relative to interest-bearing assets.
Traders will be parsing the Fed minutes for any signs policymakers are leaning toward slower easing in 2026. A more hawkish read-through typically lifts yields and the dollar, both of which can weigh on gold and gold miners.
