Newmont Corporation (NEM) Up More Than 117% YTD, Here’s Why

​Newmont Corporation (NYSE:NEM) is one of the Best Very Cheap Stocks to Invest In. Newmont Corporation (NYSE:NEM) is up more than 117% on a year-to-date basis, mainly due to record-high gold prices during the year. Wall Street has a bullish sentiment on the stock despite the company posting lower production levels for fiscal Q3 2025. On November 14, Milan Tomic from J.P. Morgan maintained a Buy rating on the stock with an A$178 price target.

​Newmont Corporation (NYSE:NEM) released its fiscal Q3 2025 results on October 23 and topped Wall Street estimates. The revenue grew by 19.96% year-over-year to $5.52 billion, surpassing estimates by $251.31 million. The EPS of $1.71 also topped the consensus by $0.27. Management attributed growth to record-high gold prices as the average realized price of gold rose from $2,518/oz to $3,539/oz during the year.

However, management was not able to take full advantage of this price hike due to a 4% year-over-year decrease in attributable gold production during the quarter. The dropped production levels were due to lower gold grades and planned shutdowns at Peñasquito and Lihir.

​Newmont Corporation (NYSE:NEM) produces and explores gold properties. It also explores for copper, silver, zinc, lead, and other metals.

While we acknowledge the potential of NEM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NEM and that has 100x upside potential, check out our report about this cheapest AI stock.

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