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Newcrest, which is in the process of being acquired by Newmont for A$26.2 billion ($17.75 billion), was trading 5.2% lower at A$26.20 as of 0506 GMT, its lowest level since July 7.

Newcrest was one of the biggest losers in the ASX 200 benchmark index, which was trading 0.2% lower.

Around 2.9 million Newcrest shares had changed hands, higher than the 30-day average of 2.4 million shares.

Newmont, the world’s largest gold miner, missed second-quarter profit estimates due to lower production and higher costs. It also withdrew the annual outlook for its Penasquito mine in Mexico as operations remain suspended due to a strike.

The Denver, Colorado-based gold miner said it expects costs to improve through the rest of the year.