Newmont Plunges 2.63% Amid Market Volatility as $0.65 Billion in Volume Ranks 178th Most Traded

Newmont (NEM) fell 2.63% on July 30, 2025, with a trading volume of $0.65 billion, ranking 178th in market activity for the day. The decline occurred amid broader market fluctuations and ongoing volatility in the gold sector.

A key factor influencing Newmont’s stock was its involvement in the Wafi-Golpu copper-gold project in Papua New Guinea, a joint venture with Harmony Gold Mining. The project, which holds an estimated 13 million ounces of gold, remains a critical focus for Newmont as negotiations with the PNG government and joint venture partners continue to shape its development timeline. Delays or uncertainties in securing the required mining lease could impact long-term production and operational efficiency for the company.

Gold prices, which remain above $3,300 per ounce despite a pullback from April 2025 highs, continue to be driven by global economic uncertainties and central bank purchases. However, Newmont’s exposure to these dynamics is tempered by its diversified portfolio and cost management strategies. The company’s current positioning in high-grade projects and strategic partnerships underscores its ability to navigate market challenges, though short-term price swings may persist due to macroeconomic risks.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day delivered a 166.71% return from 2022 to the present, significantly outperforming the benchmark return of 29.18%. The strategy's excess return was 137.53%, and it achieved a CAGR of 31.89%. This indicates a strong risk-adjusted performance and capital appreciation potential, driven by the liquidity and market sentiment around the selected stocks.