1. Newmont faces class action for disappointing Q3 2024 EBITDA results. 2. Production drops and increased costs reported for Tier 1 mining assets. 3. Stock price fell from $57.74 to $49.25 following the announcement in October.
Disappointing earnings and production declines directly affect investor confidence, similar to past instances where poor reports led to significant stock price drops.
The lawsuit reflects significant investor concern and potential financial repercussions for NEM, impacting future operations.
Immediate effects from earnings reports typically influence stock prices rapidly yet can stabilize in the longer term.
The Gross Law Firm issues the following notice to shareholders of Newmont Corporation (NYSE: NEM).
Shareholders who purchased shares of NEM during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
https://securitiesclasslaw.com/securities/newmont-corporation-loss-submission-form/?id=127860&from=4
February 22, 2024 to October 23, 2024
According to the complaint, on October 23, 2024, Newmont published a press release announcing disappointing EBITDA third quarter 2024 highlights, in addition to decreases in production and increases in operating costs. In pertinent part, Newmont revealed that mining operations at its two Tier 1 assets would see lower production than originally guided with expectations of higher costs at these facilities. Following this news, Newmont's stock price fell from a closing market price of $57.74 per share on October 23, 2024 to $49.25 per share on October 24, 2024.
April 1, 2025 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/newmont-corporation-loss-submission-form/?id=127860&from=4
Once you register as a shareholder who purchased shares of NEM during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is April 1, 2025. There is no cost or obligation to you to participate in this case.
The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: info@grosslawfirm.com
Phone: (646) 453-8903
SOURCE The Gross Law Firm