Newmont Surges 94.6% YTD as Cost-Cutting Drives 1.49B Dollar Volume Ranking 50th in Market Activity

On September 23, 2025, , ranking 50th in market activity. , outperforming broader market trends. Analysts highlight cost-cutting measures as a key driver, with Bloomberg reporting plans to reduce workforce to bolster efficiency. Meanwhile, , underscoring operational volatility.

Analysts have revised price targets upward, reflecting confidence in Newmont’s strategic positioning. , maintaining an “Outperform” rating, . These adjustments follow improved Q2 financials and a resilient gold sector amid speculation of Fed rate cuts. Gold prices, currently near record highs, further support miner valuations, though Newmont’s focus on operational efficiency remains critical to sustaining momentum.

Political developments also influenced sentiment. Bullion markets stabilized after U.S. ’s remarks clarified that gold would not face tariffs, alleviating trade-related concerns. However, Newmont’s share price remains sensitive to macroeconomic shifts, . Investors are closely monitoring the company’s cost-reduction initiatives and exploration progress, particularly in gold-rich regions like Morocco, where Zeus’s licensing deal could impact long-term resource potential.

To run this back-test accurately, I need to pin down a few implementation details that weren’t specified: 1. Universe of tradable stocks • Should we limit ourselves to U.S. listed equities (NYSE + NASDAQ), or do you want a global universe? • Do we include ETFs and ADRs, or common shares only? 2. Weighting scheme for the daily portfolio • Equal-weight each of the 500 names, or weight them by (say) traded dollar volume? 3. Rebalancing time-stamp • Do we open the position at each day’s close and exit at the next day’s close (close-to-close), or use open-to-close, etc.? 4. Transaction costs / slippage assumptions • If you’d like them included, please specify (e.g., 2 bp per side). Once these points are settled I can generate the required signals and run the full back-test from 2022-01-01 through today.