Newmont Mining Surges 18% in February Amid Gold Demand Surge and Strong Earnings

Newmont Mining Corp. (NEM) delivered a standout performance in February, gaining 18% as investor appetite for gold intensified and the company reported robust financial results. Adjusted earnings per share reached $1.82 for Q4 2025, surpassing analyst expectations of $1.65, supported by a 12% increase in gold production and improved cost discipline across its global operations. The company’s all-in sustaining costs (AISC) were held at $1,140 per ounce, below the industry average and reinforcing its competitive edge. The rally coincided with a 9% rise in the price of gold, with XAUUSD closing the month at $2,345 per ounce, its highest level since late 2023. This uptick in gold prices was driven by renewed concerns over macroeconomic uncertainty, persistent inflationary pressures, and the Federal Reserve’s delayed rate-cutting timeline. As a result, demand for gold as a safe-haven asset surged, particularly in central bank reserves and ETF holdings. The momentum extended beyond NEM, with the VanEck Gold Miners ETF (GDX) rising 14% over the same period, reflecting broad-based strength in the sector. Gold miners, historically sensitive to commodity cycles and interest rate shifts, benefited from both higher gold prices and improved margins. Analysts noted that the sector's forward P/E ratio has contracted slightly, suggesting potential undervaluation relative to underlying fundamentals. Market participants are now watching for continued production guidance and capital allocation plans from Newmont and peers. With gold’s long-term outlook remaining positive amid geopolitical tensions and currency volatility, further gains in NEM and related instruments are seen as plausible in the near term.