Newmont Corporation (NEM) is one of the world’s leading gold- and precious-metals mining companies. Headquartered in Denver, Colorado, the company’s core business involves the exploration and production of gold, but it also extracts copper, silver, zinc, and lead across a global footprint. Newmont’s market cap is roughly $98.4 billion.
Companies valued at $10 billion or more are generally considered “large-cap” stocks, and Newmont fits this criterion perfectly. Newmont is renowned for being the world's leading gold mining company, coupled with its comprehensive and diversified asset base that spans across major gold-producing regions.
The miner stock pulled back 8.6% from its 52-week high of $98.58, achieved on Oct. 16. NEM has risen 18.8% over the past three months, outpacing the broader iShares U.S. Basic Materials ETF’s (IYM) marginal gains over the same time frame.
Longer term, NEM stock is up 140.5% on a YTD basis, outperforming IYM’s 14.9% gain. Moreover, Newmont shares have surged 118.9% over the past 52 weeks, compared to IYM’s 1.1% return over the same time frame.
To confirm the bullish trend, the stock has been trading above the 200-day moving average since mid-April, while it has also been trading above the 50-day moving average, but with some fluctuations.
Newmont’s stock has surged in 2025 largely because of a dramatic rally in gold prices. As gold remains strong, demand for safe-haven assets has soared amid macroeconomic uncertainty, boosting revenues and profit margins for major producers like Newmont. A Goldman Sachs survey indicates that many investors expect the precious metal to reach a new record high of $5,000 by the end of 2026.
In comparison, its rival, Barrick Gold Corporation (GOLD), is underperforming NEM. The stock has gained 12.8% over the past 52 weeks and 21.7% on a YTD basis.
The stock has a consensus rating of “Strong Buy” from the 21 analysts covering the stock, and the mean price target of $103.92 suggests a premium of 13.2% from current levels.
On the date of publication, Subhasree Kar did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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