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.

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.

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