Newmont down after Eleonore mine deal, other gold miners hit by falling prices
Updates
** Shares of world's largest gold miner NewmontNEM.N fall 3% to $42.12
** NEM says it would sell Eleonore gold mine in Canada to UK-based miner Dhilmar Ltd for $795 mln in cash as it continues with plans to divest non-core assets
** The transaction is expected to close in the Q1 of 2025
** The deal, along with other sales announced in 2024, would help the company raise $3.6 bln - NEM
** Including session's move, NEM up 1.52% YTD
**U.S.-listed shares of other goldminers also fallas bullion prices drop after a five-session rally
** Spot gold XAU= down nearly 3% at $2,632.19/ounce following reports of Israel nearing a ceasefire with Hezbollah, coupled with Trump's nomination of Scott Bessent as the U.S. Treasury Secretary
** Barrick Gold ABX.TO GOLD.N down 3.6%
** U.S.-listed shares of South African miners Gold Fields GFI.N fall 3.8%, Harmony Gold HMY.N drop 5.2% and AngloGold Ashanti AU.N down 2.5%
** Canadian miners Kinross Gold K.TO and Agnico Eagle MinesAEM.TO drop 4.1% and 3.9%, respectively
Reporting by Ragini Mathur in Bengaluru
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
