15 Best Magic Formula Stocks to Invest In

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11. Newmont Corporation (NYSE:NEM)

Gotham Asset Management’s Q1 2025 Stake: $31.3 million

Number of Hedge Fund Holders: 65

Newmont Corporation (NYSE:NEM) ranks among the best magic formula stocks to invest in. Citing its status as the largest gold producer in the world, Stifel began coverage of Newmont Corporation (NYSE:NEM) on July 8 with a Buy rating and a $73 price target.

In light of the successful Newcrest purchase and its divestiture program, the firm emphasizes Newmont’s operational stabilization and notes that it is in a strong position to reach its 2025 targets.

Aside from the commissioning of the Ahafo North shaft in 2027 and the expansion of Panel Caves 2 and 3 at Cadia in 2026 and 2027, Stifel also identified medium-term catalysts for Newmont Corporation (NYSE:NEM), such as anticipated enhancements in 2026 and 2027 as operations at Boddington, Lihir, Peñasquito, and Cerro Negro stabilize.

Newmont Corporation (NYSE:NEM), headquartered in Denver, Colorado, is a key player in gold mining. The company’s broad portfolio comprises world-class gold and copper assets in North and South America, Australia, and Africa.

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