Newmont

Gold and silver remain under pressure as US yields, the upcoming Fed meeting and the midterm elections make investors cautious. Newmont will publish third-quarter results on Thursday; the consensus is $1.95 earnings per share, so a weaker gold price is likely to weigh on the result. Attention focuses on whether Newmont confirms its production and cost guidance, in particular the AISC calculation of $1,680 per ounce for the current year. » More on deraktionaer.de

S&P Global Ratings has raised Newmont’s outlook from “stable” to “positive” and affirmed the long‑term issuer rating at BBB+. The decision was justified by a strengthened asset portfolio following the acquisition of Newcrest and subsequent divestitures, higher gold prices, debt reduction and a more conservative capital allocation strategy. S&P expects Newmont to keep the adjusted debt/EBITDA ratio below 0.5x in the coming years while continuing to fund dividends and share buybacks. » More on de.investing.com

Newmont Goldcorp stock dropped about 2.6% in premarket trading to $122.83 after a hawkish speech by Fed chair Kevin Warsh weighed on the price of gold and the outlook for rate hikes. Markets now see roughly a 57% chance of a rate increase in September, supporting a stronger dollar and pressure on gold stocks. Company-specific factors include an ex-dividend date on September 3 and the appointment of Peter Beaven to the board; operationally the company remains robust with a production guidance of 5.3 million ounces and a $6 billion buyback program. » More on de.investing.com