This is Why Newmont Corporation (NEM) is Goldman Sachs Top Gold Stock Pick

Newmont Corporation (NYSE:NEM) is one of Goldman Sachs top gold stock picks. On April 23, Newmont Corporation (NYSE:NEM) delivered strong operational and financial results for the first quarter. During the quarter, the company produced 1.3 million attributable gold ounces and achieved a record $3.1 billion in quarterly free cash flow.

This is Why Newmont Corporation (NEM) is Goldman Sachs Top Gold Stock Pick

Newmont Corporation (NYSE:NEM) is on track to achieve its 2026 guidance of 5.3 million attributable gold ounces. The company achieved net income of $3.3 billion and adjusted net income of $3.2 billion, or $2.90 per share, in the first quarter. It also returned $2.7 billion to shareholders through stock buybacks and dividends.

The company’s board has approved an additional $6 billion for share repurchases. The board has also approved a $0.26-per-share dividend for the first quarter, payable on June 22 to shareholders of record as of May 27. Newmont Corporation plans to spend $1.1 billion on dividends in 2026.

Newmont Corporation (NYSE:NEM) is the world’s largest gold mining company, focusing on the exploration, development, and production of gold, along with byproduct metals like copper, silver, zinc, and lead. It operates a global portfolio of long-lived, high-quality mines with a focus on responsible mining and environmental stewardship.

While we acknowledge the risk and potential of NEM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NEM and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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