Jim Cramer Looked At These 23 Stocks Recently

13. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Holders: 69

Highlighting that gold has “had an amazing run”, Cramer mentioned Newmont Corporation (NYSE:NEM) and commented:

“From the recession resistant to the recession suspect, we go to materials. On top is Newmont Mining because gold’s had an amazing run. Is that fear? Now, I don’t know, matter of fact, uh tariff worries maybe? Precious metals being a good store of value? Hey, you know what, given gold’s astronomical outperformance, a bit of all three?”

Newmont (NYSE:NEM) is engaged in the production and exploration of gold and it also explores other metals such as copper, silver, zinc, and lead. As per TipRanks, on March 28, Jefferies analyst David Hove highlighted that the stock is undervalued compared to its peers and is expected to maintain strong production and cash flow performance.

He pointed out that Newmont (NYSE:NEM) trades at 0.6x P/NAV at spot, a significant discount of around 40% compared to its peer AEM, and expects the valuation gap will narrow as the company meets its guidance and free cash flow expectations, driven by ongoing optimization efforts at its assets. Hove assigned a Buy rating on NEM stock, with a price target of $57.