New York, January 7, 2026, 20:15 EST — Market closed.
- Newmont said bushfire damage at its Boddington site will cut first-quarter gold output by about 60,000 ounces.
- Shares fell 1.1% to $108.01 at Wednesday’s close, a day after touching a 52-week high.
- Gold slid about 1% as traders booked profits ahead of key U.S. jobs data.
Newmont Corp shares fell 1.1% on Wednesday, after the gold miner said damage from a bushfire near its Boddington operation in Western Australia is expected to reduce first-quarter 2026 gold output by about 60,000 ounces. The company said the processing plant has restarted but will run at about 50%–60% of normal rates until water-supply infrastructure is restored, a process it expects to run through February.
The update matters because Boddington is one of Newmont’s cornerstone mines and has “consistently delivered over 800,000 gold equivalent ounces annually,” according to the company. A temporary squeeze on processing rates can show up quickly in quarterly volumes and costs, even if the pits and plant avoid major physical damage. Newmont Operations
Gold prices, the bigger lever for Newmont’s stock, moved the other way on Wednesday. Spot gold was down about 0.9% at $4,445 an ounce by mid-afternoon in New York, and February futures settled 0.7% lower, Reuters reported; “We’re viewing today’s pullback as general profit taking after that recent surge,” said David Meger, director of metals trading at High Ridge Futures. Markets are pricing about 61 basis points of Federal Reserve easing this year — 61 basis points equals 0.61 percentage points — with attention now on Friday’s U.S. nonfarm payrolls report, the monthly jobs release that often shifts rate expectations. Reuters
In its bushfire update, Newmont said the fire began in mid-December, operations were suspended on Dec. 24 and inspections later found the pit and major facilities secure, though part of the site’s water infrastructure was damaged. The fire was contained by Dec. 28 but remained active and will need monitoring in coming weeks, it said, adding employees and contractors were safe.
Wednesday’s pullback came after a hot run. Newmont ended the session at $108.01, about 1.2% below its 52-week high of $109.30 set on Tuesday, while volume of about 9.9 million shares ran slightly above its 50-day average; Royal Gold fell 0.7% on the day, while Agnico Eagle rose about 0.8%.
Gold’s longer-term price path is still doing most of the talking for the sector. Morgan Stanley forecast this week that gold could reach $4,800 an ounce by the fourth quarter of 2026, pointing to falling interest rates and continued buying by central banks and funds; it noted bullion hit a record $4,549.71 on Dec. 26 after a 64% gain in 2025.
Still, Newmont’s near-term risk is operational. If water-system repairs take longer than expected, or if fire conditions worsen, the production hit could grow, and reduced plant throughput can push unit costs higher even when ounces are the headline.
For the next session, traders are likely to take their cue from Friday’s U.S. payrolls report (Jan. 9) and any further updates on Boddington’s restoration timetable. The next company marker is Newmont’s quarterly results, which Nasdaq data show are currently estimated for Feb. 19.
