Newmont Corporation (NEM) Is One Of The S&P 500's Best Performing Stocks, Says Jim Cramer

We recently published Jim Cramer Said AI Is A “Souped-Up Google” As He Discussed These 11 Stocks. Newmont Corporation (NYSE:NEM) is one of the stocks Jim Cramer recently discussed.

Newmont Corporation (NYSE:NEM) is an American gold mining company headquartered in Colorado. Its shares have gained 88% year-to-date as the firm has benefited from higher gold prices leading to strong earnings reports. Newmont Corporation (NYSE:NEM)’s second-quarter earnings pushed the stock to its highest level in three years after the firm’s $5.32 billion in revenue and $1.43 in earnings per share beat analyst estimates. Cramer discussed the firm’s recent cost-cutting push and its share price performance:

“[On a cost cutting push] Even though they’re one of the best performing stocks in the S&P 500 and they feel like they need to make that cutback. That’s a very good company.”

Cramer had previously discussed Newmont Corporation (NYSE:NEM) in April. Here is what he said back then after a caller inquired about buying the shares:

“Alright, well, let me go over the alternatives here. First, you can own a gold mutual fund or a gold junior mutual fund, which has a lot in the hopper, so to speak. You can buy gold, the actual ingots or bullion, or buy it from Costco.”

While we acknowledge the potential of NEM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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