On August 19, Newmont Mining rose 3.55% in pre-market trading, trading at $120.1 per share, with turnover of $3.36 million.

On the news front, multiple investment banks recently raised their price targets on the stock. Bank of America Global Research lifted its target from $135 to $145, BNP Paribas raised its target from $102 to $112 while maintaining a Neutral rating, and Raymond James adjusted its target from $128 to $131 while maintaining an Outperform rating. The consensus mean price target has risen to $135.25. Additionally, the company previously reached a settlement with Barrick Mining over the Nevada Gold Mines dispute, with UBS noting the agreement removes uncertainty and supports the company's ability to return cash to shareholders and pursue long-term growth. UBS estimates Newmont could return more than $7 billion in total cash to shareholders in full-year through buybacks and dividends.

Within the Gold sector, stocks broadly rallied. Coeur Mining rose 3.89%, Barrick Mining rose 3.35%, Agnico Eagle Mines rose 3.24%, Wheaton Precious Metals rose 3.24%, and Pan American Silver rose 3.22%.

(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.)