Newmont Corporation (NEM) Is One Of The S&P 500’s Best Performing Stocks, Says Jim Cramer

We recently published Jim Cramer Said AI Is A “Souped-Up Google” As He Discussed These 11 Stocks. Newmont Corporation (NYSE:NEM) is one of the stocks Jim Cramer recently discussed.

Newmont Corporation (NYSE:NEM) is an American gold mining company headquartered in Colorado. Its shares have gained 88% year-to-date as the firm has benefited from higher gold prices leading to strong earnings reports. Newmont Corporation (NYSE:NEM)’s second-quarter earnings pushed the stock to its highest level in three years after the firm’s $5.32 billion in revenue and $1.43 in earnings per share beat analyst estimates. Cramer discussed the firm’s recent cost-cutting push and its share price performance:

“[On a cost cutting push] Even though they’re one of the best performing stocks in the S&P 500 and they feel like they need to make that cutback. That’s a very good company.”

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Cramer had previously discussed Newmont Corporation (NYSE:NEM) in April. Here is what he said back then after a caller inquired about buying the shares:

“Alright, well, let me go over the alternatives here. First, you can own a gold mutual fund or a gold junior mutual fund, which has a lot in the hopper, so to speak. You can buy gold, the actual ingots or bullion, or buy it from Costco.”

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Disclosure: None. This article is originally published at Insider Monkey.