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.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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