Newmont(NEM) GlobeNewswire News Room·2025-02-11 13:33Core Viewpoint - A securities class action lawsuit has been filed against Newmont Corporation for allegedly misleading investors about its revenue outlook and production capabilities during the specified class period from February 22, 2024, to October 23, 2024 [1][3]. Company Overview - Newmont Corporation is a gold mining company that also produces copper, silver, zinc, and lead, with operations and assets globally, including in Canada, the U.S., Africa, Australia, and Latin America [2]. Lawsuit Details - The lawsuit claims that Newmont and its senior executives provided misleading statements regarding the company's growth potential, failing to consider critical factors such as costs and mining productivity [3]. - Investors became aware of the misleading information on October 23, 2024, when Newmont announced disappointing third-quarter earnings, reduced production guidance, and increased operating costs [4]. Stock Market Reaction - Following the announcement of disappointing earnings, Newmont's stock price dropped by 57.74 on October 23, 2024, to $49.25 on October 24, 2024 [5].