Why Newmont Stock Just Popped

Newmont stock rose 2.8% as gold prices rebounded after the Federal Reserve raised interest rates to 3.75%-4% for the first time in three years. While higher rates typically make gold less attractive as an investment, gold prices recovered from yesterday's sell-off. Newmont stock trades at 15.7x trailing earnings with expected 15% annual earnings growth and a 0.9% dividend yield, making it fairly valued but not a compelling buy.