Aura Minerals (AUGO) sank 15% today with no news of its own as gold slid below $4,000 an ounce, a four-month low, and miners including Newmont (NEM), Agnico Eagle (AEM) and Aris Mining (ARIS) sold off. The VanEck Gold Miners ETF (GDX) lost 5%, and Aura fell more than twice as hard. Newmont reported $1.9 billion of third-quarter free cash flow, selling gold at an average of $4,317 an ounce with all-in sustaining costs of $1,454. Aura reported record third-quarter output of 95,557 gold equivalent ounces, up 29%, and analysts expect normalized EPS of $6.23 in 2026. The article says Aura's third-quarter results due next week will show whether that output is turning into free cash flow.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
PAXG/USDT
▼ Likely negativePAX Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.8B |
| Close on 10/29/2026 | 4,014.37 |
| Change that session | -1.02% |
XAUT/USDT
▼ Likely negativeTether Gold
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.2B |
| Close on 10/29/2026 | 4,007.09 |
| Change that session | -1.03% |
XAU/USD
▼ Likely negativeRelevance: low
| Market | Gold |
|---|---|
| Close on 10/29/2026 | 4,021.63 |
| Change that session | -1.13% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Newmont Sinks 4%4 Despite Record Third-Quarter Profit as Gold Slides Back Toward $4,000
Newmont (NEM) shares fell 4% today despite record third-quarter results, with adjusted EPS of $2.20 beating the $1.94 consensus by 13%. Gold slid nearly 3% on Thursday to about $4,020 an ounce, its lowest since early August, and briefly dipped below $4,000 this morning, dragging down the stock and the VanEck Gold Miners ETF (GDX). Newmont sold gold at an average of $4,317 an ounce in the quarter, but its 2026 guidance assumes $4,500, and fourth-quarter AISC is expected to rise to $1,900 an ounce as development spending on the Red Chris project increases by about $500 million next year. At $4,000 gold and $1,900 AISC, the company would keep about $2,100 an ounce, close to its 2025 level, though the author expects 2027–2028 estimates to drift lower if gold stays near $4,000. The author argues the selloff is overdone, with the stock trading around 11x forward earnings versus a five-year average of 16x.
- Southern Cross Gold Shares Drop 9 % as Falling Gold Price Weighs on Victorian Explorer Despite High - Grade Hits
Southern Cross Gold shares fell 9.07% to A$9.02 on Friday as spot gold dropped to around $4,025 an ounce, its lowest in over two months, in a broad sell-off across Australian gold stocks; the company released no price-sensitive announcement. Gold weakened as higher oil prices raised inflation concerns and the prospect of further Fed rate hikes. The company is developing its fully owned Sunday Creek gold-antimony project in Victoria, where recent drilling has returned very high grades, and recently welcomed a A$20 million election commitment for antimony processing. However, antimony prices have cooled, and the company's market value fell to about A$1.4 billion.
- Alkane Resources Shares Slide Nearly 10 % Despite Steady Gold Output as Bullion Slump Hits ASX Gold Miners
Alkane Resources shares fell 9.82% to A$1.4925 despite a steady quarterly report, as gold prices dropped to a two-month low and dragged down Australian gold miners. In the September quarter, the company produced nearly 41,000 gold equivalent ounces, including about 40,000 ounces of gold and nearly 400 tonnes of antimony, while all-in sustaining costs fell 7% to A$2,805 per ounce. It generated A$102 million in operating cash flow, ended with about A$459 million in cash, bullion and investments, and reaffirmed fiscal 2027 production guidance of 163,000 to 177,000 gold equivalent ounces. The company also launched a buyback of up to A$50 million and plans to spend A$160 million to A$190 million on growth projects this fiscal year. CEO Nic Earner was cautious on antimony, saying he does not see the market rebounding strongly in the short to medium term.
- Ora Banda Mining Shares Tumble 15 % as Gold Hits Two - Month Low and Sell - Off Sweeps Australian Gold Producers
Ora Banda Mining shares fell 14.66% to A$1.135 despite no company-specific announcement, as gold slid to a two-month low and sold off across Australian gold producers. Spot gold dropped to about $4,025 an ounce in early Asian trading, driven by higher oil prices that raised inflation fears and expectations of further Fed rate increases; the Fed raised rates last month for the first time since 2023. Alkane Resources fell nearly 10% and Southern Cross Gold Consolidated about 9%, while the S&P/ASX 200 fell 0.15%. Ora Banda, which is pursuing a plan to lift annual output to about 300,000 ounces by fiscal 2029, reported all-in sustaining costs of about A$3,870 per ounce in the June quarter, leaving it sensitive to gold price swings. The stock is down about 11% over the past 12 months.
- Gold miners face margin pressure as lower prices complicate third-quarter results
RBC Capital Markets says gold producers face a mixed third-quarter earnings season, as lower gold prices and higher costs pressure margins, partly offset by expected production gains. Average gold prices fell 6% quarter over quarter to $4,266 an ounce in Q3 from $4,513 in Q2, a second straight quarter of margin pressure. RBC stresses that execution through year-end matters, since many companies have production weighted to Q4. It also warns that consensus estimates for 2027 capital spending and costs look too low, raising the risk of downward revisions. Investors will focus on operational delivery and whether miners boost growth spending and acquisitions, though producers remain financially strong.
- RBC flags downside risks for gold shares ahead of quarterly results
RBC Capital Markets expects a mixed third-quarter reporting season for gold producers, as average gold prices fell 6% quarter on quarter to US$4,266 an ounce, a second consecutive quarterly decline, while elevated energy prices add to costs. RBC expects modest production gains and slightly lower all-in sustaining costs for the producers it covers, though inflation will limit the benefit. Its main risk lies in 2027 forecasts, where it expects all-in sustaining costs to rise 4% and capital expenditure 16%, above consensus of no cost growth and an 8% rise in capital spending, citing higher energy and labour costs, possible lower ore grades and more discretionary spending. Producers remain financially strong, with many in net cash and near-record free cash flow, and RBC sees valuations as 'reasonable' at 1.1 times price to net asset value, with free cash flow yields of 6% to 7% for 2026 and 2027. However, it warns that weaker gold prices, elevated earnings expectations and execution risks could weigh on shares.
Related markets
Latest news
- Why gold plunged to its lowest price in a year despite renewed Iran jitters
Safe-haven gold fell to its lowest price in a year. The drop came despite renewed jitters over possible fresh Middle East attacks after the U.S. midterm elections on Tuesday.
- These 3 Big Risks Could Cause the Next Bear Market. I'm Investing Anyway.
The article argues that stocks always carry risk, pointing to the 2022 bear market when the S&P 500 fell about 18% and the Nasdaq-100 about 32% on a total return basis. The author outlines three risks: heavy reliance on AI, as Goldman Sachs research from September found the largest AI hyperscalers had spent about $800 billion in capital expenditures since the start of the year; rising rates, as the Fed hiked in September and the 10-year Treasury yield has risen about 0.92% over the past year; and high valuations, with the CAPE ratio at levels not seen since 2000, just before the dot-com crash. Even so, the author says they will keep investing and buying more stocks through low-cost index funds, noting the S&P 500 has averaged 9.98% annual returns since 1928 and the Vanguard S&P 500 ETF (VOO) about 13.8% a year over the past five years, including 2022.
- Stock Market Today, Oct. 30: Intel Plunges Nearly 29% as Weak Outlook Rattles Wall Street
Intel shares plunged 28.58% to close at $65.76, one of the steepest single-day declines in decades, despite the company beating quarterly earnings expectations. Investors reacted to weak fourth-quarter guidance citing softer PC demand, manufacturing constraints and ongoing turnaround spending. Trading volume reached 447.8 million shares, about 314% above the three-month average of 108.1 million. Intel’s Data Center and AI revenue rose 78% year over year to $7.3 billion, suggesting demand for data center infrastructure remains robust. AMD fell 10.88% to $504.80 and Nvidia dropped 4.22% to $204.64, while the Nasdaq Composite closed at 25,437, down 2.86%.
- Cracks are emerging in the AI spending boom
Investors are growing nervous about AI infrastructure spending, even as Alphabet, Amazon, Meta and Microsoft plan to spend more than $740 billion on capital expenditures this year. The Nasdaq fell 2.9% on Friday, with chip stocks hit hard and Qualcomm down 11%. Alphabet plunged 12% on Thursday, wiping out $500 billion in market value, and reported negative free cash flow of $9.1 billion in the third quarter while expecting to spend up to $205 billion this year, as its Search advertising growth slowed to 12% amid the rollout of AI Mode. Amazon posted negative free cash flow of $42.4 billion over the past 12 months despite 39% AWS growth, and Meta reported negative free cash flow of $2.1 billion in the third quarter even as ad revenue rose 26%. Negative cash flow, mounting debt and doubts about whether these investments will pay off are weighing on market sentiment.
- Binance Hack Shows Why Offshore Exchanges Need US Oversight, CFTC Chair Says
CFTC Chairman Michael Selig told CNBC that the $6.4 billion Binance hack “proves our exact point” for the crypto-market rules the agency proposed this month, arguing offshore exchanges need U.S. oversight. He attributed the flaw to a vulnerability “introduced from someone’s laptop” rather than to Ethereum or its smart contracts, and proposed a “federal option” letting such venues register with the CFTC and meet U.S. cybersecurity standards. Binance, however, said its investigation had found “additional points of breach,” and that the attacker used EIP-7702 to turn a hot wallet into a “sweeper” with 50 pre-signed authorizations. Binance has set aside $6.34 billion to cover losses, while the Secret Service and FBI are investigating, and TRM Labs and Chainalysis have linked the theft to North Korea’s TraderTraitor group.
- Anthropic turns profitable but could go back into losses: Seaport analyst
Seaport Research Partners analyst Jay Goldberg views Anthropic's operating profit of almost $1 billion as likely temporary. He said the company has warned it may be profitable in the next quarter or two before returning to losses, as it shifts from leasing computing capacity by the hour from Amazon to building its own compute, which it considers a key competitive advantage and will spend heavily on. Goldberg described the relationship with Amazon (AMZN) and Google (GOOG, GOOGL) as complex, since Anthropic is both a major customer, with a large share of Amazon's AI revenue coming from it, and a potential competitor. He does not think conclusions about Anthropic can be drawn from this week's tech market moves, citing interest rates and an ongoing war. Anthropic's computing bill is falling quickly, which is good news for now, but that is expected to reverse as it starts buying its own compute.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.