AAL

Gold Mining Stock Extends Rally on Upgrade

Despite a solid year-to-date performance, many analysts are still on the fence

Deputy Editor
Apr 11, 2025 at 10:11 AM
facebook X logo linkedin


Amid President Donald Trump’s sweeping tariff plans, gold stocks have become a hot commodity. One standout is Newmont Corporation (NYSE:NEM), which is surging today -- last seen up 7.6% at $54.80 -- after UBS upgraded the gold producer to buy from “neutral.” The brokerage also boosted its price target to $60 from $50, citing an “incrementally more supportive” macro environment for gold and noting Newmont’s strong cash returns.

Today’s pop extends an already impressive run. NEM is up 36.9% year to date and is on pace for its fifth-straight daily gain, as well as its fifth weekly win in the last six weeks. The stock is now trading at its highest level since October 2024, though the $54 level appears to be acting as short-term resistance.

Despite the strong technical setup, sentiment still has room to improve. Eight of the 18 analysts covering Newmont stock maintain a “hold” or worse rating. Continued strength could pressure these skeptics to upgrade their outlook, potentially adding fuel to the stock’s rally as Wall Street catches up to the price action.

 

Same-Day Trading Power: +227% YTD and Counting  — Get in for $10!

We're celebrating 44 years of helping traders win, and you can now tap into one of our most explosive services — Dynamite Day Trading Signals — for just $10.

This service was built for one thing: capturing intraday gains with precision. 

Access two highly-vetted options trades each week -  Complete with defined entries, exits, and a clear plan for same-day profits.

👉 Click Here to Learn More and Position Yourself to Take Action When the Next Alert Hits.