Metals and Mining Stocks Underperform on Thursday
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: NASDAQ.COM
- Market Decline: On Thursday, metals and mining stocks collectively fell by approximately 4.3%, indicating a weakening market confidence that could adversely affect long-term investor expectations.
- NioCorp Downturn: NioCorp Developments saw its stock price drop by about 15.3%, highlighting increasing challenges for the company that may lead to capital outflows and a decline in market share.
- Critical Metals Struggles: Critical Metals experienced a stock price decrease of around 14.5%, suggesting that the company may face greater operational pressures in the current market environment, impacting its future profitability.
- Uncertain Industry Outlook: The overall weakness in the metals and mining sector may prompt investors to reassess their portfolios, potentially affecting financing and development plans for related companies.
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Analyst Views on AU
Wall Street analysts forecast AU stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AU is 104.40 USD with a low forecast of 90.00 USD and a high forecast of 131.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 107.020
Low
90.00
Averages
104.40
High
131.00
Current: 107.020
Low
90.00
Averages
104.40
High
131.00
About AU
AngloGold Ashanti plc is a global gold mining company with a diverse portfolio of operations, projects and exploration activities in 10 countries, across four continents. The Company’s diverse portfolio includes approximately 11 operations in Argentina, Australia, Brazil, the Democratic Republic of the Congo (DRC), Egypt, Ghana, Guinea and Tanzania. The Company’s portfolio includes Africa, the Americas, and Australia. Its Africa portfolio includes Kibali- managed by Barrick Gold Corporation, Egypt (Sukari), Ghana (Iduapriem and Obuasi), Guinea (Siguiri) and Tanzania (Geita). The Americas hosts three of its operations, one in Argentina and two in Brazil, as well as two greenfield projects in Colombia and a significant new greenfield development in Nevada in the United States. Australia hosts two of its operations, which include Sunrise Dam and Tropicana, both in the north-eastern goldfields in the state of Western Australia.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
SPDR Gold Shares ETF Drops 6%
- Market Performance: Gold shares have slid by 6%, indicating a downturn in the market for these assets.
- Investor Sentiment: The decline in gold shares may reflect changing investor sentiment and market conditions.
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Kinross Gold Declines 6.6%, Gold Fields Decreases 5.4%, AngloGold Ashanti Decreases by 8.1%
Kinross Gold Decline: Kinross Gold's stock has dropped by 6.6%, indicating a significant decrease in market value.
Gold Fields Performance: Gold Fields has experienced a decline of 5.4%, reflecting challenges in its operational performance.
AngloGold Ashanti Fall: AngloGold Ashanti's stock has fallen by 8.1%, suggesting ongoing difficulties within the company.
Overall Market Trends: The declines in these gold companies highlight a broader trend of decreasing stock values in the gold mining sector.
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