Newmont Stock Slides Thursday As Rising Fuel Costs, Lower Gold Prices Squeeze Margins

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Newmont (NYSE:NEM) stock experienced a significant slide due to a confluence of rising fuel costs and lower gold prices, which are squeezing profit margins for gold miners. The situation is exacerbated by a historic divergence between gold and Brent crude prices, with gold significantly underperforming, and rising diesel costs impacting operational expenses. Despite previous analyst upgrades and a “Buy” rating, the stock is nearing oversold territory, and investors are looking ahead to its Q1 earnings report for future catalysts.

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