Why Newmont Corp. (NEM) Surged On Friday?

We recently published a list of Gold, Biopharma Firms Dominate Friday’s 10 Top Performing Stocks. In this article, we are going to take a look at where Newmont Corp. (NYSE:NEM) stands against other Friday’s top performing stocks.

The stock market finished the trading week on a positive note, wiping out earlier losses on Friday, as investors weighed the escalating trade tensions between the US and China.

Having been battered this week, Wall Street’s major indices all finished in the green, led by the Nasdaq, up 2.06 percent, followed by the S&P 500 with 1.81 percent, and the Dow Jones with 1.56 percent.

Ten companies, predominantly under the mining and biopharmaceutical sectors, mimicked gains on the back of fresh industry catalysts that boosted buying appetite. In this article, let us explore Friday’s top performers and the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million trading volume.

A gold mine entry with a conveyor belt transporting minerals from the depths of a shaft.

Newmont Corp. (NYSE:NEM)

Shares in Newmont Corp. grew 7.91 percent on Friday to close at $54.97 apiece as investors hunted for bargains in gold mining stocks amid higher spot prices.

As of 4:22 PM EDT on Friday, spot prices of gold were at a new all-time high of $3,233.96 per ounce, representing a 1.82-percent increase from the previous day.

Friday also marked NEM’s fifth consecutive day of rally as investors took shelter from gold assets amid the heightening trade tensions between the United States and China.

In separate news, investment bank UBS gave NEM a rating upgrade to Buy from Neutral and a higher price target of $60 versus $50 previously. The new price represented a 9-percent upside from NEM’s closing price on Friday.

NEM is a US-based gold miner that owns various mining sites across the US, Canada, Mexico, Dominican Republic, Australia, Ghana, Argentina, Peru, and Suriname.

Overall, NEM ranks 10th on our list of Friday’s top performing stocks. While we acknowledge the potential of NEM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is as promising as NEM but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.