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Gold prices recently witnessed a correction as investors and traders booked profits following a four-month-long rally. Spot gold touched a two-week low of $2,357.89 per ounce before paring some of the losses as investors awaited crucial personal consumption expenditure (PCE) data.On Friday, PCE, which is the Federal Reserve’s most preferred gauge of inflation, was reported to be in line with estimates as it rose 2.5% compared to a year ago. The data has increased hopes for a rate cut in September.As gold prices fluctuate and rate-cut expectations gather steam, let’s take a look at what retail investors are thinking about these two popular gold mining stocks.1. Newmont Corporation: Retail sentiment has dipped into neutral territory (51/100) from the extremely bullish zone a day ago for the world’s largest gold miner. The firm, which reported its second quarter earnings on Thursday, topped analyst estimates on multiple counts. The recent dip in retail sentiment can be attributed to the profit-booking in gold. With a rate cut on the cards, gold prices are expected to strengthen further as lower interest rates act in favor of prices of the non-yielding metal.<figure class="image"><a href="https://stocktwits.com/symbol/NEM/sentiment"><img style="aspect-ratio:1254/758;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_26_at_2_50_38_PM_12c87f6d86.png" alt="Retail sentiment dips into neutral zone from extremely bullish for Newmont Corporation" width="1254" height="758"></a><figcaption>Retail sentiment dips into neutral zone from extremely bullish for Newmont Corporation</figcaption></figure>During the second quarter, the firm’s earnings per share (EPS) came in at $0.72, better than Wall Street’s estimate of $0.62. Newmont reported attributable gold production at 1.61 million ounces, above the expected 1.56 million ounces. Shares of the firm were trading over 2% higher on Friday, as a result of upbeat earnings.2. Barrick Gold Corp: Retail sentiment has cooled off for Barrick as well, dipping into the neutral territory (47/100) from the bullish zone a day ago. Despite the subdued sentiment, some users with a bullish stance believe the stock is attractive at current levels. One user named SpiceyWingz believes shares of the firm are “super undervalued.”<figure class="image"><a href="https://stocktwits.com/SpiceyWingz/message/580846355"><img style="aspect-ratio:1562/434;" src="https://st-everywhere-cms-prod.s3.us-east-1.amazonaws.com/Screenshot_2024_07_26_at_2_52_00_PM_27bc66e971.png" alt="Stocktwits user SpiceyWingz's post on Barrick Gold." width="1562" height="434"></a><figcaption>Stocktwits user SpiceyWingz's post on Barrick Gold</figcaption></figure>The company recently announced a preliminary Q2 production of 948,000 ounces of gold and 43,000 tonnes of copper, as well as preliminary Q2 sales of 956,000 ounces of gold and 42,000 tonnes of copper. Preliminary Q2 gold production was higher than the first quarter, the firm indicated.Despite the sluggish sentiment, the lackluster interest in these stocks is expected to be short-lived with an interest rate cut expected in September.Photo Courtesy: Pixabay

Newmont, Barrick: After Gold Price Crash, Do Miners Still Shine For Retail Investors?

Retail sentiment has dipped for both Newmont and Barrick following the recent profit-booking in gold prices. However, the lackluster interest is expected to be short-lived with an interest rate cut expected in September

Equity

Gold miner Newmont logs rise in Q2 2024 profit

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Newmont Reports Second Quarter 2024 Results

Newmont Corporation (NYSE: NEM, ASX: NEM, TSX: NGT, PNGX: NEM) (Newmont or the Company) today announced second quarter 2024 results and declared a second quarter dividend of $0.25 per share. 'Newmont...

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Newmont Corp. engages in the exploration and acquisition of gold properties, containing copper, silver, lead, zinc or other metals. It operates through the following geographical segments: North America, South America, and Nevada. The North America segment consists primarily of Carlin, Phoenix, Twin Creeks and Long Canyon in the state of Nevada and Cripple Creek and Victor in the state of Colorado. The South America segment consists of Yanacocha in Peru, Merian in Suriname and Cerro Negro. The company was founded by William Boyce Thompson on May 2, 1921, and is headquartered in Denver, CO.

Volume	8.37M
52-Wk High	$48.97
52-Wk Low	$29.42

NEM Newmont Corp

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