Why Newmont Corporation Stock Dropped Today

By Rich Smith – Apr 13, 2026 at 11:04AM ESTKey PointsPresident Trump announced a blockade on the Strait of Hormuz over the weekend. Oil prices are up, and gold prices are down, as investors fear inflation.A 1% decline in gold prices cost Newmont Corporation (NEM 4.32%) stock a 3% decline in stock price this morning, as shares reacted to the latest news from the Persian Gulf -- and its implications for both gold prices and the profits of gold miners. The news also derailed a three-week trend of rising share prices for Newmont stock. Image source: Getty Images. What's new in the Mideast today As you've probably heard, President Trump announced over the weekend a blockade on sea-going traffic into and out of the Persian Gulf. U.S. Central Command later clarified that the blockade only applies to ships visiting or leaving Iranian ports. So essentially, what the Navy is doing is the opposite of a blockade. It's aiming to reopen the Strait of Hormuz to oil traffic for everyone but Iran. Ordinarily, such news should be good for stock markets and oil prices, because it promises to uncork the Strait and resume the flow of oil to global markets -- but that's not how investors are taking it. The President's move seems likely to anger the Iranians, and perhaps enough that they'll violate last week's ceasefire -- lengthening the conflict and prolonging the global oil deficit. ExpandNYSE: NEMNewmontToday's Change(-4.32%) $-5.22Current Price$115.68Key Data PointsMarket Cap$132BDay's Range$115.52 - $119.9552wk Range$48.27 - $134.88Volume137KAvg Vol11MGross Margin49.78%Dividend Yield0.84% What does this mean for Newmont stock? I know what you're thinking: This is all very informative stuff about oil, but Newmont is a gold stock. So what does any of this have to do with the price of gold? Well, the theory goes like this: When oil prices rise, inflation rises. When inflation rises, interest rates also tend to rise (to contain inflation). Higher interest rates mean higher bond yields, which makes bonds look relatively more attractive than gold as an investment. Long story short: When oil prices rise, gold prices fall. And so does Newmont stock.Read NextApr 10, 2026 •By James HalleyHere's Why Newmont Stock Is a Buy Before Its First-Quarter EarningsApr 8, 2026 •By Matt DiLalloBest Copper ETFs for 2026 and How to InvestApr 7, 2026 •By Lyle DalyThe Largest Materials Companies by Market Cap in April 2026Apr 3, 2026 •By Howard SmithWhy Did Newmont Stock Jump Nearly 12% This Week?Apr 1, 2026 •By Neha ChamariaWhy Newmont Stock Surged on WednesdayMar 29, 2026 •By Lee SamahaHere's What to Expect for Gold and Silver Mining Stocks as the Iran Conflict ContinuesAbout the AuthorRich Smith is a contributing Motley Fool defense and stock market analyst covering publicly traded and emerging companies in defense, space, aerospace, and other sectors. Prior to The Motley Fool, Rich practiced international corporate law for Clifford Chance in Russia, and for the Russian-Ukrainian Legal Group in Moscow, Kyiv, and Washington, D.C. He holds a bachelor’s degree in international relations from the College of William & Mary, a law degree from the University of Baltimore, and a language certification from the International Institute of Russian Language & Culture in Tver, Russian Federation. The Globe and Mail once featured him as “one of the best stock pickers since 2009.”TMFDittyX@RichSmithFoolStocks MentionedNewmontNYSE: NEM$115.68(-4.32%)-$5.22*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.