6 Major Stocks Losing on Monday’s Bull Rally

By Chris Lange Updated Jan 13, 1:22AM EST · Published Nov 7, 12:10PM EST

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6 Major Stocks Losing on Monday’s Bull Rally — © Thinkstock

At last look, both the S&P 500 and the Dow Jones Industrial Average are up close to 2%, while the Nasdaq is pushing even higher. This seems to put an end to the nine-day slide that we saw in the broad markets over the past two weeks. Gold had come back into vogue as political uncertainty over the presidential election took hold.

Monday’s swing back up was over less perceived uncertainty over the ongoing Trump versus Clinton chess match for who will become the next U.S. president. That election is now finally just a day away, and gold’s move is having a significant impact on some of the top gold miners and producers.

Practically everything was up in the markets on Monday, except for this handful of stocks that a fair number of investors carry in their portfolios. Known as a solid hedge against inflation and fluctuating currencies, even political uncertainty, these stocks are a staple for most portfolios, although they may be a hindrance now.

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Newmont Mining Corp. (NYSE: NEM) shares slid 5% at $35.93 on Monday. The stock has a consensus analyst price target of $44.76 and a 52-week trading range of $16.05 to $46.07. Monday alone, this company lost a total $1 billion from its market cap, now totaling $19 billion.

Barrick Gold Corp. (NYSE: ABX) shares plunged 6.6% to $17.06, with a consensus price target of $22.00 and a 52-week range of $6.90 to $23.47. The total market cap is $19.8 billion.

Goldcorp Inc. (NYSE: GG) saw its shares drop by nearly 5% at $14.59. It has a total addressable market cap of $12.4 billion. Share traded within the 52-week range of $9.46 to $20.38, with a consensus price target of $20.15.

Agnico Eagle Mines Ltd. (NYSE: AEM) shares also went lower early Monday. The stock was down 5% at $49.04, with a consensus price target of $56.70 and a 52-week range of $24.80 to $60.10. The market cap is $11 billion.

AngloGold Ashanti Ltd. (NYSE: AU) saw its shares drop 6.4% to $13.28. The consensus price target is $22.95, and a 52-week range is $6.20 to $22.91. The market cap is $5.4 billion.

Gold Fields Ltd. (NYSE: GFI) shares traded down nearly 3% at $4.05, with a consensus analyst target of $5.48 and a 52-week range of $2.04 to $6.60. Its market cap is $3.3 billion.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.