Denver-based Newmont Mining Corporation (NEM) is one of the world's largest gold producers, with a market cap of $49.4 billion. Operating in the mining sector, it explores and produces gold, copper, silver, zinc, and lead across various regions.
Shares of the gold miner have significantly underperformed the broader market over the past 52 weeks. NEM has declined around 3% over this time frame, while the broader S&P 500 Index ($SPX) rallied 27.4%. The gap has narrowed slightly in 2024, with NEM’s shares up 4.9%, compared to SPX's 11.1% gains on a YTD basis.
