$NEM

The value of the top 50 mining companies rose by $357 billion in August, driven by gains in gold and copper prices. Gold miners like AngloGold Ashanti, Evolution Mining, and Gold Fields saw significant increases, while Newmont and Agnico Eagle surpassed $100 billion. Southern Copper briefly overtook Rio Tinto as the second-largest miner. Polyus, a Russian gold miner, fell 24.3% due to dividend suspension and potential windfall taxes. The rally brought the total market value of the top 50 back ab

JPMorgan's Jacob Manoukian argues the Fed is tolerating inflation above 2% to reduce debt-to-GDP ratio. Newmont (NEM), a gold producer, benefits from this regime, with shares up 75% in a year. NEM reported strong Q2 earnings, driven by high gold prices. Manoukian's view could be invalidated by a sudden PCE reacceleration or Treasury auction failure.

Citi projects gold prices to reach $5,000/oz by late 2027, highlighting Newmont (NEM) and Agnico Eagle Mines (AEM) as top picks. The bank notes undervaluation in gold stocks, with strong free cash flow yields and controlled costs. NEM reported Q2 earnings of $2.10/share on $6.12B revenue, missing estimates. AEM also missed Q2 estimates but set a record quarterly free cash flow of $1.3B.

Newmont Corporation (NEM) shares rose 34.5% in August, driven by a gold price rally and a dispute resolution with Barrick Mining (B). The companies agreed on a $1.95 billion deal for Barrick's assets in their Nevada joint venture, benefiting both. Rising bond yields and geopolitical tensions may continue to support gold prices, impacting NEM's stock.

Barrick Mining (ABX, B) expanded its Nevada Gold Mines joint venture with Newmont (NEM) in an August 2026 deal, adding nearly 100 million ounces of gold. Barrick reported Q2 2026 gold production up 11% from Q1 and net earnings up 50% year-over-year. US policy aims to boost domestic gold mining, benefiting Barrick's Nevada operations.

China remains the top gold producer, with 384 tonnes in 2025, while U.S. production fell 32% since 2010. The U.S. aims to boost domestic mining through faster permitting and investment. Barrick Mining, the largest U.S. gold producer, reported Q2 2026 earnings of $1.22B and plans to expand Nevada Gold Mines with Newmont, creating a 100M-ounce complex. Analysts have mixed ratings and price targets for Barrick.

Newmont Goldcorp (NEM) shares fell 2.6% pre-market to $122.83 due to declining gold prices, influenced by hawkish Fed comments. The company's ex-dividend date and broader market declines also contributed. Newmont appointed Peter Beaven to its board, but this did not offset the selling pressure. The stock remains above its 52-week low of $73.44 but below its high of $135.29.

Asian gold mining stocks fell Monday after bullion dropped 3% Friday due to Fed rate hike expectations. Lingbao Gold, Zijin Gold, and others declined, while Shandong Gold rose 8.1% after strong earnings. Spot gold hit $4,567, its lowest since August 20, as Treasury yields rose and the dollar strengthened. Higher-cost miners are vulnerable to price changes. NEM fell 3.5%.

Peter Schiff views the recent decline in gold and silver prices as a buying opportunity, citing higher bond yields and inflation expectations. Gold and silver prices fell, with silver experiencing its steepest single-day drop in over two months. Silver miners like Pan American Silver (PAAS) and Hecla Mining (HL) saw significant stock declines, while gold miners like Newmont (NEM) and Barrick Gold (B) also fell. Brent oil futures rose, and U.S. equities declined.

Barrick Mining (B) and Newmont (NEM) resolved disputes over Nevada Gold Mines, with Newmont paying Barrick $1.95B. Barrick plans an IPO for North American assets by 2026. Q2 results: Barrick reported $5.29B revenue, $1.7B operating cash flow; Newmont reported $7.7B revenue, $2.9B operating cash flow. Analysts raised price targets for both.