Aura Minerals Sinks 15% as Gold Miners Slide, GDX Down 5% - Yahoo Finance

AI desk brief

Gold fell about 3% to below $4,000/oz, a four-month low, as traders priced in more Federal Reserve rate hikes; the selloff hit miners broadly, with GDX down 5%, Newmont off 5%, Agnico Eagle down 6% and Aris Mining down 9%. Aura Minerals sank 15% with no company-specific news, showing even more beta to the metal than the ETF.

The piece notes that the big producers still have substantial margin cushion at these levels: Newmont generated $1.9 billion of Q3 free cash flow, sold gold at an average $4,317/oz and reported AISC of $1,454/oz, while Agnico Eagle’s 12-month gross margin was 74.5%. Next week’s Aura results are framed as the key test of whether record Q3 production of 95,557 GEOs is translating into free cash flow.