On September 17, Newmont Mining rose 3.05% in pre-market trading, trading at $125.468/share, with turnover of approximately $2.18 million. The rebound came after the Federal Reserve announced a 25-basis-point rate hike earlier in the day, lifting the federal funds rate to a target range of 3.75%–4.00%, its first increase since July 2023.

The hike had been widely anticipated and fully priced in by the market. While gold stocks initially sold off following the announcement — with Newmont falling as much as 3.04% during regular trading — the sector quickly stabilized as traders pivoted to a sell-the-news narrative. Across the gold sector, Coeur Mining rose 4.21%, Wheaton Precious Metals gained 3.56%, Agnico Eagle Mines climbed 3.54%, Kinross advanced 3.17%, and Barrick Mining added 2.77%.

Separately, multiple investment banks recently raised their price targets on Newmont. RBC Capital lifted its target to $155 from $135, maintaining an Outperform rating, while Goldman Sachs raised its target to $127.50 from $110.60, keeping a Buy rating. The average analyst consensus target stands at approximately $138.67.

(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.)