Is Newmont Stock Outperforming the Nasdaq?

Valued at a market cap of around $135 billion, Newmont Corporation (NEM) is the world’s leading gold company and a major producer of copper, zinc, lead, and silver, with operations across Africa, Australia, Latin America and the Caribbean, North America, and Papua New Guinea. The company is widely recognized for its strong environmental, social, and governance (ESG) practices, robust safety standards, and operational excellence. 

Companies valued at $10 billion or more are generally considered "large-cap" stocks, and Newmont fits this criterion perfectly. Guided by its purpose to create value and improve lives, Newmont is committed to sustainable and responsible mining while delivering long-term benefits to stakeholders and communities.

Shares of the Denver, Colorado-based company have declined 4.3% from its 52-week high of $135.29. Over the past three months, Newmont's shares have surged 30.4%, surpassing the broader Nasdaq Composite’s ($NASX) 1.7% gain during the same period.

NEM stock has climbed 29.2% on a YTD basis, outpacing NASX's 13.5% return. In the longer term, shares of the gold and copper miner have soared 70.3% over the past 52 weeks, compared to NASX’s 21% return over the same time frame.

Despite a few fluctuations, the stock has been trading below its 200-day moving average since late October last year. 

Newmont shares released Q2 2026 results on Jul. 23. The gold miner reported better-than-expected adjusted EPS of $2.10, as higher gold prices more than offset lower production. Gold prices averaged $4,506.41 per ounce in Q2, up about 37% year-over-year, and Newmont’s realized gold price jumped to $4,414 per ounce. The company also forecast Q3 production broadly in line with Q2 and said Cadia operations had returned to normal levels by mid-June, supporting a steadier near-term production outlook despite Q2 output falling to 1.29 million ounces.

In comparison, rival AngloGold Ashanti plc (AU) has slightly lagged behind NEM stock on a YTD basis, with AU stock gaining 27.9%. However, AU stock has soared 75.4% over the past 52 weeks, outpacing NEM stock.

Due to the stock’s strong performance relative to the Nasdaq, analysts remain bullish about its prospects. NEM stock has a consensus rating of “Strong Buy” from 24 analysts in coverage, and the mean price target of $133.16 suggests a premium of 2.8% to current levels.

On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.