According to the lawsuit, Newmont and its senior executives misled investors regarding the Company’s revenue outlook and ability to deliver growing gold and mineral production at its diversified Tier 1 portfolio operations. The suit alleges that Defendants’ statements as to growth failed to take into account key variables, such as cost and mining productivity.

Investors learned the truth on October 23, 2024, when Newmont published a press release announcing disappointing earnings for the third quarter 2024, lower production guidance, and an increase in operating costs. Specifically, Newmont revealed that mining operations at its two Tier 1 assets would see lower production than originally forecast and higher costs at these facilities.

On this news, Newmont’s stock price fell $8.49 per share – more than 14% – from a closing market price of $57.74 per share on October 23, 2024 to $49.25 per share on October 24, 2024.

Investors who purchased or acquired Newmont securities between February 22, 2024 through October 23, 2024, may no later than April 1, 2025, seek to be appointed as a lead plaintiff representative of the class.