Why Newmont Corp. (NEM) Soared Last Week?

Angelica Ballesteros

Sat, Apr 12, 2025, 3:46 PM 3 min read

We recently published a list of 10 Firms Defy Market Slump, Record Double-Digit Gains Last Week. In this article, we are going to take a look at where Newmont Corp. (NYSE:NEM) stands against other firms that defied the market slump and recorded double-digit gains last week.

The stock market may have taken a beating for most of the week, but it was able to recover losses on Friday, as investors gobbled up shares while weighing the impact of the US-China trade war.

Among all major indices, the tech-heavy Nasdaq registered the highest gain, up 7.29 percent, followed by the S&P 500 with 5.7 percent, and the Dow Jones by 4.95 percent.

Ten companies, predominantly in the gold and biopharmaceutical sectors, were the week’s top performers as investors sought haven from their stocks amid market uncertainties.

In this article, we have identified last week’s 10 highest gainers and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million trading volume.

The week-on-week prices were based on the companies’ closing prices on Friday as against on April 4, or a week earlier.

A gold mine entry with a conveyor belt transporting minerals from the depths of a shaft.

Shares of Newmont Corp. surged by 24.4 percent week-on-week, finishing Friday’s trading at $54.97 versus the $44.18 on April 4, as investor funds flocked to gold miners amid the surge in the prices of gold.

During the past trading week, gold prices surged to record highs twice as investors turned to gold for safe haven amid economic uncertainties brought about by the ongoing trade tensions between the United States and China.

NEM also saw five consecutive days of rally last week, with sentiment helped by an investment bank’s rating upgrade in the company’s stock to Buy from Neutral previously, while giving it a higher price target of $60 versus $50 prior. The new price target represented a 9-percent upside from NEM’s closing price on Friday.

NEM is a US-based gold miner that owns various mining sites across the US, Canada, Mexico, Dominican Republic, Australia, Ghana, Argentina, Peru, and Suriname.

Overall, NEM ranks 10th on our list of firms that defied the market slump and recorded double-digit gains last week. While we acknowledge the potential of NEM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is as promising as NEM but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.