Why Newmont Corporation Stock Just Dropped

By Rich Smith – Mar 3, 2026 at 1:13PM ESTKey PointsConflict in the Mideast drove gold prices higher at first, but they're falling today.War can be inflationary, but it might also convince the Federal Reserve not to lower interest rates.Newmont Corporation (NEM 8.17%) stock tumbled 7.3% through noon ET Tuesday on a confluence of confusing factors. As you've probably heard, there's war in the Mideast. Ordinarily, investors flee to gold and silver as safe havens in troubled times, and at first, that's what seemed to be happening this time, too. Problem is, gold and silver prices decided to tank today, and they're taking the stock price of this gold miner down with them. (Newmont also mines silver.) Image source: Getty Images. Gold and silver prices fall Gold prices closed February around $5,278 per ounce, according to data from TradingEconomics.com. Prices spiked after U.S. and Israeli forces began striking Iran over the weekend, rising as high as $5,416 early Monday before starting to fade. At last report, gold was trading at $5,101 per ounce, down 4% from yesterday's close. The story on silver is similar -- but worse. Silver's price closed at $93.73 per ounce at the end of February before moving higher, topping $96.10 Monday. Today, silver is down 7.4% to $82.42 per ounce. ExpandNYSE: NEMNewmontToday's Change(-8.17%) $-10.50Current Price$117.97Key Data PointsMarket Cap$140BDay's Range$115.92 - $120.9152wk Range$41.93 - $134.88Volume537KAvg Vol9.6MGross Margin49.78%Dividend Yield0.78% Is Newmont stock a sell? Why is this happening? Well, the U.S. dollar -- also a safe haven -- is strengthening. Thus, it takes fewer dollars to buy an ounce of gold or silver. The natural result is falling prices for precious metals. War can also be inflationary -- which should be good for precious metal prices. But if inflation spooks the Fed into holding interest rates steady, this could lower inflation long term -- or so the thinking goes. Personally, I expect gold and silver prices to react to war worries the way they usually do. I think the general price trend will be up, not down. With Newmont stock trading for a cheap 20 times earnings, the stock looks like a buy to me.Read NextFeb 25, 2026 •By Scott LevineShould You Invest $1,000 in Newmont Corporation (NEM) Right Now?Feb 23, 2026 •By Matt DiLalloShould You Buy Newmont Stock With Gold Prices Above $5,000?Feb 20, 2026 •By Neha ChamariaWhy Newmont Stock Dropped on FridayFeb 17, 2026 •By Rich SmithWhy Newmont Corporation Stock Dropped TodayFeb 13, 2026 •By Rich SmithWhy Newmont Corporation Stock Popped TodayFeb 5, 2026 •By Rich SmithWhy Newmont Corporation Stock Keeps FallingAbout 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$117.66(-8.41%)-$10.81*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.