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.
