Mining stocks Newmont Corporation (NYSE:NEM) and Freeport-McMoRan Inc (NYSE:FCX) are higher today, after gapping lower on Friday alongside gold and silver prices in response to President Donald Trump's nomination of former Federal Reserve Governor Kevin Warsh for Fed chair. The selection eased concerns around central bank independence and lifted the U.S. dollar.
At last glance, NEM is up 1.7% to trade at $114.26, after shedding 11.5% on Friday for its worst day since October 2024, on the heels of Thursday's record high of $134.88 Shares still boast a 170% year-over-year lead and remain above their ascending 40-day moving average.
FCX was last seen down 0.6% to trade at $60.57, with long-term support from the 20-day moving average containing its own Friday pullback from a Thursday all-time high of $69.44. Over the last 12 months, Freeport-McMoRan stock has amassed a 69% lead.
It appears both NEM and FCX have tended to exceed option traders' volatility expectations during the past year. This is per their Schaeffer's Volatility Scorecards (SVS) of 83 and 82 out of 100, respectively.
