In 2025's stock market spotlight — dominated by tech titans such as Nvidia Corp (NASDAQ:NVDA) and Meta Platforms Inc (NASDAQ:META) — Newmont Corp. (NYSE:NEM) is quietly stealing the show. The world's largest gold miner has surged 106% year-to-date (YTD) as of Sep. 15, turning ore into investor treasure.
- Track NEM stock here.
The investor bonanza has come amid soaring gold prices, fueled by stubborn inflation jitters and geopolitical fireworks from Ukraine to the Middle East. Meanwhile, the S&P 500, tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), trails with a modest 12.45% YTD gain, like a marathon runner settling for participation medals.
Gold Miner Outshines The Market
A peek at the TradingView ratio chart of NEM/SPY shows a parabolic surge screaming, "Eureka!" From a low of 0.0636 in late 2024, the ratio rocketed to 0.1205 by mid-September 2025 — a near doubling that underscores Newmont's 2x outperformance versus the S&P since 2023.
Read Also: Here’s How Much $1000 Invested In Newmont 10 Years Ago Would Be Worth Today
The stock hit a 52-week high of $80.07, leaving its $36.86 low in the rearview mirror. Gold's proxy, the SPDR Gold Trust (NYSE:GLD), is up 36.67% YTD, but Newmont's operational leverage — ramping production at mines like Ahafo in Ghana and Pueblo Viejo in the Dominican Republic — has supercharged equity returns, turning commodity bets into pure investor gold.
Contrarian Gold Play During Market Volatility
Humorously, it's like striking it rich in a bear market casino: While Big Tech chases AI hype, Newmont sticks to timeless tangibles. Over the past six months, NEM's 66.77% pop dwarfs SPY's 15.91% and even GLD's 21.21%, proving old-school digging still pays dividends — literally, with a 1.26% yield.
But beware the pyrite pitfalls: rising production costs, labor strikes and energy spikes could erode margins if gold prices cool (currently near $3,600/oz). Newmont’s's 14.31% monthly gain feels frothy, with RSI (relative strength index) signals whispering "correction ahead."
Yet for contrarian investors, a breakout above 0.12 on the NEM/SPY ratio could target 0.15 if gold bulls continue charging.
In this uneven recovery, Newmont isn't just mining gold — it's minting market envy. As the S&P scrapes for gains, savvy portfolios might want a nugget or two.
Read Next:
Photo: Shutterstock
