Newmont Shares Extend Rally for Seventh Straight Session, Reaching $53.56.

Newmont's shares continue their rally for the seventh consecutive session, rising 1.73% to $53.56. The gold mining firm's shares have increased nearly 6% in the past six trading sessions.

Newmont Corp (ASX: NEM) shares have continued their upward trajectory, rising 1.73% to $53.56 on the ASX 200 Index (ASX: XJO) on May 24, 2025. This marks the seventh consecutive session of gains for the gold mining giant, with its shares increasing nearly 6% over the past six trading sessions.

The strong performance of Newmont shares can be attributed to several factors, including the company's robust gold production and cost management. In the first quarter of fiscal year 2025, Newmont reported attributable gold production of 1.54 million ounces at an all-in-sustaining cost (AISC) of US$1,651 per ounce [1]. Despite a 13% increase in AISC from the prior quarter, the average realized gold price for the period was US$2,944 per ounce, up 11% [1]. This resulted in a record first-quarter free cash flow of $1.2 billion, with net cash from operating activities of continuing operations beating expectations [1].

The company's CEO, Tom Palmer, reaffirmed that Newmont is on track to meet its full-year 2025 production guidance, following the strong start to the year [1]. Additionally, Sequoia Wealth Management's Peter Day expects further upside in Newmont shares, citing improvements in production, costs, and potential share buybacks [1].

Newmont's shares have benefited from the soaring gold price, which has increased by 25.8% year to date, reaching US$3,301 per ounce [1]. Despite the recent gains, Day expects Newmont shares can keep marching higher into 2026, even without further increases in the gold price [1].

References:
[1] https://www.fool.com.au/2025/05/21/3-reasons-this-asx-200-gold-mining-giant-could-soar-higher-into-2026/