PHILADELPHIA, Feb. 07, 2025 (GLOBE NEWSWIRE) — Berger Montague PC, with offices throughout the U.S. and in Canada, advises investors that a securities class action lawsuit has been filed against Newmont Corporation (“Newmont” or the “Company”) (NYSE: NEM) on behalf of purchasers of Newmont securities between February 22, 2024 through October 23, 2024, inclusive (the “Class Period”).
Investor Deadline: Investors who purchased or acquired
NEWMONT
securities during the Class Period may, no later than
APRIL 1, 2025
, seek to be appointed as a lead plaintiff representative of the class. To learn your rights,
CLICK HERE
.
Headquartered in Denver, CO, Newmont is a gold mining company and producer of copper, silver, zinc, and lead. It has operations and assets all over the globe, including in Canada, the U.S., Africa, Australia, and Latin America.
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.
To learn your rights or for more information,
CLICK HERE
or please contact Berger Montague: Andrew Abramowitz at
[email protected]
or (215) 875-3015, or
[email protected]
.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Toronto, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, is a pioneer in securities class action litigation since its founding in 1970 is a one of the leading law firms representing investors in securities fraud cases. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States and Canada.
Contact:
Andrew Abramowitz, Senior Counsel
Berger Montague PC
(215) 875-3015
[email protected]
[email protected]
