Tech Firms Dominate Monday’s 10 Worst Performers

5. Gold Fields Ltd. (NYSE:GFI)

Gold Fields Ltd. snapped a three-day winning streak on Monday, dropping by 3.54 percent to end at $23.69 each as investors sold off positions following news that it would cease operations at its Damang mining site in Ghana after the government rejected its lease extension request.

While GFI already stopped mining in Damang since 2023, it continued to process stockpiles at the site. On Monday, it confirmed that it was instructed by authorities to vacate the lease area by April 18.

According to GFI, it was “preparing to safely and responsibly cease operations and ensure the safety and security of our people and high-risk operations.”

Damang was GFI’s smaller gold mining site after Tarkwa, its largest open-pit site.

Damang alone produced 135,000 ounces of gold last year, accounting for around 6 percent of the group’s total 2.15 million ounces produced.