Newmont Shares Drop 2.6% as Gold Falls and Rates Seen Higher
Newmont Goldcorp Corp shares fell 2.6% in pre-market trading to $122.83 as gold prices dropped after Federal Reserve Chair Kevin Warsh warned inflation is above target and a September rate increase remains possible. The move also reflected weakness in other gold-mining stocks and broader equities. Newmont also appointed Peter Beaven to its board effective September 1.