Why Newmont Stock Jumped 26% Amid Market Volatility This Week

In what might go down as one of the wildest weeks for investors in stocks in recent history, Newmont (NYSE: NEM) stock offered much respite, with solid and steady gains through the week. Shortly after noon ET Friday, Newmont stock hit a weekly intraday high of 26%, according to data provided by S&P Global Market Intelligence. The S&P 500 (SNPINDEX: ^GSPC), meanwhile, managed to log 6.1% gains, at its intraday best over the past five trading days, through 2 p.m. ET FridayNewmont stock is riding the wave of fresh enthusiasm in gold stocks amid the stock market turmoil, with one analyst even upgrading the stock's price target by 20%.Newmont is the world's largest gold producer, with its mines churning out 6.8 million attributable ounces of gold in 2024. The mining giant also produces silver, copper, zinc, and lead.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool