Why Newmont Stock Jumped 180%?

January 17th, 2026 by Trefis Team
-20.71%
Downside
114
Market
90.48
Trefis
NEM: Newmont logo
NEM
Newmont

Newmont (NEM) stock skyrocketed, fueled by a sharp revenue surge and a doubling of its price-to-sales multiple. Behind this impressive leap lie soaring gold prices, breakthrough projects, and bullish analyst vibes—setting the stage for a deeper look into what truly moved the needle.

Below is an analytical breakdown of stock movement into key contributing metrics.

  1162025 1162026 Change
Stock Price ($) 41.0 114.1 178.6%
Change Contribution By LTM LTM
Total Revenues ($ Mil) 16,987.0 21,503.0 26.6%
P/S Multiple 2.8 5.8 110.5%
Shares Outstanding (Mil) 1,147.0 1,097.0 4.4%
Cumulative Contribution 178.1%

So what is happening here? The stock soared 179%, driven by a 27% revenue boost and a 111% jump in P/S multiple. Let’s dive into the key events behind these impressive gains.

Here Is Why Newmont Stock Moved

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  • Soaring Gold Prices: Gold prices rallied significantly, gaining 50-70% in 2025, reaching record highs near $4,500/oz.
  • Strong Earnings Beats: Newmont consistently beat Q1, Q2, and Q3 2025 earnings per share and revenue forecasts.
  • Strategic Portfolio Focus: Divestments and focus on Tier-1 assets enhance long-term profitability despite short-term output dips.
  • Key Project Advancements: Ahafo North achieved commercial production in Oct 2025, boosting future output capacity.
  • Bullish Analyst Sentiment: Analysts raised 2025 and 2026 EPS forecasts, noting NEM’s outperformance and strong outlook.

Our Current Assesment Of NEM Stock

Opinion: We currently find NEM stock attractive. Why so? Have a look at the full story. Read Buy or Sell NEM Stock to see what drives our current opinion.

Risk: A good way to gauge risk for NEM is to check its drops during major market sell-offs. It fell about 56% in the Dot-Com crash and 61% in the Global Financial Crisis. The inflation shock wasn’t far behind, with a 58% dip. Even smaller pullbacks like the 2018 correction and Covid pandemic put it down around 25% or more. So, despite any strong fundamentals, NEM isn’t immune when markets turn sour.

NEM stock may have seen strong gains recently, but investing in a single stock without detailed, thorough analysis can be risky. The Trefis High Quality (HQ) Portfolio, with a collection of 30 stocks, has a track record of comfortably outperforming its benchmark that includes all 3 — the S&P 500, S&P mid-cap, and Russell 2000 indices. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.