Newmont Corporation (NEM 1.65%) stock's chart is easily one of the most fascinating ones I've ever seen.
The gold stock see-sawed for decades, touched $86 per share in mid-2022, and fell back to the ground. Newmont stock bottomed out about a year ago, and there's been no stopping since.
If you'd invested $1,000 in Newmont stock a year ago, your money would be worth nearly $2,650 today. That's after the stock's drop over the past few days, amid the ongoing Iran war and fluctuations in gold prices.
Image source: Getty Images.
What's happening with Newmont stock?
Newmont is the world's largest gold mining company, and has benefited significantly from the historic rise in gold prices. Gold hit an all-time high of $5,608.35 per ounce in January 2026. Newmont's average realized gold price surged 45% and free cash flow hit a record $7.3 billion on net income of $7.2 billion in 2025.
NYSE: NEM
Key Data Points
Newmont also repaid $3.4 billion in debt and returned another $3.4 billion to shareholders through dividends and share repurchases.
Is Newmont stock still a buy?
Newmont now holds more cash than debt. That's a rarity for a commodity company.
Although Newmont is guiding for a softer 2026 because of lower production, and the stock falling amid geopolitical tensions and lower gold prices, a recovery in gold could help offset lower sales volumes. A fortress balance sheet, meanwhile, should help Newmont navigate commodity cycles.
