What caused Newmont's silver project volatility from 2022-2024?

Newmont's silver project volatility from 2022 to 2024 can be attributed to a combination of factors:

1. Market Sentiment and Economic Conditions: The overall market sentiment towards silver and gold, influenced by economic conditions and interest rates, significantly impacts mining stocks like Newmont. Favorable sentiment, such as expectations of inflation leading to higher demand for precious metals, can boost silver prices and Newmont's stock. Conversely, bearish sentiment or economic downturns can lead to lower silver prices and stock volatility.
2. Company-Specific Developments: Newmont's stock performance is also influenced by its operational performance and strategic decisions. For instance, the company's dividend yield, which is high compared to the Treasury bond market, makes it attractive to income-focused investors. Additionally, the potential for dividend raises as gold prices rise can further enhance the stock's appeal.
3. Macro-Economic Factors: The performance of silver prices is closely tied to macro-economic factors, particularly interest rates and inflation expectations. Lower interest rates and expectations of inflation can lead to a rally in silver prices, as seen in 2022 when the dollar index was in a downtrend and inflation was high, leading to a shift in momentum for gold.
4. Geopolitical Risks: Geopolitical risks and uncertainties can also impact silver prices. For example, tensions between major nations or disruptions in silver mining regions can lead to supply disruptions, potentially driving prices up.
5. Technical Analysis and Price Trends: Technical analysis of silver prices and trends can influence investor sentiment. Patterns and signals derived from technical analysis can lead to buying or selling, affecting short-term volatility.
6. Institutional and Retail Trader Sentiment: The actions of institutional investors and retail traders, including options trades, can influence stock price movements. For example, a bearish stance by large investors, as seen in the options market for Newmont, can signal to other investors that a price decline is anticipated, leading to increased volatility.

In summary, Newmont's silver project volatility is influenced by a complex interplay of market sentiment, economic conditions, company-specific factors, macro-economic factors, geopolitical risks, technical analysis, and the sentiment of institutional and retail traders.