10 Best Performing Large Cap Stocks to Buy According to Analysts

4. Newmont Corporation (NYSE:NEM)

1-Year Performance: 45.47%

Number of Hedge Fund Holders: 69

Analyst Upside Potential: 19.99%

Newmont Corporation (NYSE:NEM) is one of the world’s leading gold mining companies and a significant producer of copper, silver, zinc, and lead. It operates in various mining jurisdictions across the globe, including Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea.

The management has been focused on three main strategies including the integration of the acquired assets, rationalization of the portfolio, and stabilization of the business. Newmont Corporation (NYSE:NEM) faced challenges in integrating the assets acquired from Newcrest, particularly Cadia and Lihir. Despite the hurdles, the company is investing in robust operational and technical plans to enhance these assets, aiming to unlock their long-term potential. Moreover, under its rationalization strategy, the company executed a divestment program and reached an agreement to sell six non-core operations, which is expected to generate up to $4.3 billion in pre-tax proceeds.

In terms of financial performance Newmont Corporation (NYSE:NEM) during the fiscal fourth quarter of 2024, generated a record $1.6 billion cash flow. This was driven by strong gold prices, higher sales volumes, and positive working capital movements. On February 21, Citi analyst Kate McCutcheon maintained a Buy rating on the stock with a price target of A$95.00. It is one of the best-performing large-cap stocks to buy according to analysts.