NEM
Newmont Corporation Materials - Gold Mining Investor Relations →
Newmont Corporation (NEM) closed at $115.32 as of 2026-02-02, trading 128.7% above its 200-week moving average of $50.43. The stock moved further from the line this week, up from 123.7% last week. With a 14-week RSI of 72, NEM is in overbought territory.
Over the past 2346 weeks of data, NEM has crossed below its 200-week moving average 44 times. On average, these episodes lasted 20 weeks. Historically, investors who bought NEM at the start of these episodes saw an average one-year return of +17.8%.
With a market cap of $126.7 billion, NEM is a large-cap stock. The company generates a free cash flow yield of 7.4%, which is healthy. Return on equity stands at 22.9%, indicating strong profitability. The stock trades at 3.8x book value.
Share count has increased 42.3% over three years, indicating dilution. NEM passes our Buffett quality screen: high return on equity, low debt, and positive free cash flow.
Over the past 33.2 years, a hypothetical investment of $100 in NEM would have grown to $617, compared to $2849 for the S&P 500. NEM has returned 5.6% annualized vs 10.6% for the index, underperforming the broader market over this period.
Free cash flow has been volatile over the past several years, making the quality of earnings harder to assess.
Growth of $100: NEM vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After NEM Crosses Below the Line?
Across 32 historical episodes, buying NEM when it crossed below its 200-week moving average produced an average return of +18.0% after 12 months (median +22.0%), compared to +12.2% for the S&P 500 over the same periods. 68% of those episodes were profitable after one year. After 24 months, the average return was +21.5% vs +27.6% for the index.
Each line shows $100 invested at the moment NEM crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Historical Touches
NEM has crossed below its 200-week MA 44 times with an average 1-year return of +17.8% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Sep 1981 | Sep 1981 | 1 | 1.6% | -23.3% | +1397.9% |
| Oct 1981 | Nov 1982 | 58 | 41.7% | -6.5% | +1577.0% |
| Sep 1983 | Oct 1983 | 1 | 1.1% | -26.4% | +1498.8% |
| Oct 1983 | Nov 1983 | 3 | 4.1% | -24.7% | +1541.3% |
| Jan 1984 | Feb 1984 | 7 | 5.8% | -25.3% | +1490.5% |
| Apr 1984 | Jul 1985 | 65 | 34.0% | -6.6% | +1458.4% |
| Jul 1985 | Aug 1985 | 2 | 2.6% | +6.9% | +1673.3% |
| Sep 1985 | Sep 1985 | 2 | 5.7% | +49.0% | +1742.2% |
| Mar 1986 | Apr 1986 | 1 | 2.3% | +107.4% | +1623.8% |
| Apr 1986 | May 1986 | 4 | 8.1% | +120.2% | +1619.0% |
| Jun 1986 | Aug 1986 | 7 | 7.0% | +98.5% | +1572.4% |
| Oct 1990 | Jun 1991 | 37 | 15.2% | +8.5% | +556.1% |
| Jul 1991 | Sep 1991 | 9 | 9.5% | +33.2% | +539.3% |
| Nov 1991 | Nov 1991 | 1 | 0.7% | +18.9% | +524.3% |
| Dec 1991 | Dec 1991 | 1 | 0.5% | +5.0% | +517.8% |
| Mar 1992 | May 1992 | 7 | 4.8% | +16.3% | +519.8% |
| Nov 1992 | Mar 1993 | 18 | 7.8% | +44.9% | +505.7% |
| Dec 1994 | Jan 1995 | 5 | 5.6% | +27.9% | +416.5% |
| Jan 1995 | Mar 1995 | 6 | 5.6% | +68.4% | +441.2% |
| Oct 1995 | Oct 1995 | 1 | 1.0% | +26.1% | +382.9% |
| Jan 1997 | Feb 1997 | 6 | 8.5% | -37.6% | +337.8% |
| Mar 1997 | Sep 1997 | 28 | 21.1% | -34.5% | +316.2% |
| Oct 1997 | Aug 2001 | 200 | 63.8% | -43.6% | +322.8% |
| Aug 2001 | Sep 2001 | 2 | 1.8% | +38.1% | +739.2% |
| Nov 2001 | Jan 2002 | 10 | 7.8% | +27.8% | +777.8% |
| Oct 2006 | Oct 2006 | 1 | 0.6% | +10.7% | +304.9% |
| Feb 2007 | Apr 2007 | 6 | 4.1% | +19.8% | +289.2% |
| Apr 2007 | Sep 2007 | 20 | 11.5% | +6.1% | +293.5% |
| Apr 2008 | May 2008 | 2 | 1.7% | -6.7% | +271.0% |
| Aug 2008 | May 2009 | 41 | 47.2% | -3.7% | +279.9% |
| Jun 2009 | Aug 2009 | 13 | 15.4% | +20.8% | +266.4% |
| Sep 2009 | Oct 2009 | 2 | 5.6% | +49.2% | +281.9% |
| Oct 2009 | Nov 2009 | 1 | 2.4% | +41.2% | +276.4% |
| Jan 2010 | Feb 2010 | 1 | 3.0% | +29.4% | +280.9% |
| Apr 2012 | May 2012 | 8 | 9.0% | -14.8% | +231.4% |
| Jun 2012 | Aug 2012 | 10 | 10.7% | -35.1% | +227.6% |
| Oct 2012 | Apr 2016 | 179 | 53.4% | -44.7% | +220.1% |
| Sep 2018 | Oct 2018 | 5 | 1.3% | +33.8% | +379.0% |
| Oct 2018 | Oct 2018 | 1 | 2.6% | +36.0% | +378.8% |
| Apr 2019 | May 2019 | 3 | 3.4% | +104.7% | +360.0% |
| Jul 2022 | Jan 2023 | 23 | 18.9% | -2.1% | +183.2% |
| Jan 2023 | Aug 2024 | 80 | 38.1% | -28.2% | +150.9% |
| Oct 2024 | Mar 2025 | 19 | 19.8% | +82.5% | +160.7% |
| Mar 2025 | Apr 2025 | 1 | 3.9% | N/A | +163.9% |
| Average | 20 | — | +17.8% | — |
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of Friday close, 2026-02-02