On September 17, Newmont Mining fell 3.04% in regular trading, trading at $120.3/share, with turnover of $4.83 billion. The decline came as the Federal Reserve announced a 25-basis-point rate hike, lifting the federal funds rate target range to 3.75%–4.00%, its first increase since July 2023.

The Fed's updated economic projections showed a year-end median rate of 4.1%, signaling the possibility of one additional hike this year and further suppressing gold price expectations. The broader gold sector came under significant selling pressure. Among peers, Coeur Mining fell 6.4%, Wheaton Precious Metals dropped 3.68%, Kinross declined 1.78%, Agnico Eagle Mines lost 1.71%, and Barrick Mining slipped 1.3%.

On the analyst front, multiple investment banks recently raised their price targets on Newmont Mining. RBC Capital lifted its target to $155 from $135 while maintaining an Outperform rating, and Goldman Sachs raised its target to $127.50 from $110.60 with a Buy rating. The FactSet consensus mean target stands at approximately $138.67 with an average Overweight rating, suggesting analysts maintain a constructive longer-term view despite near-term macro headwinds.

(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.)