Gold Stocks Shine in 2025: Newmont, Agnico Eagle Lead NYSE Rally
Gold stocks have been on a tear in 2025, with Newmont Corp. and Agnico Eagle Mines Ltd. leading the charge on the New York Stock Exchange. These mining giants have seen their shares more than double this year, outperforming other sectors significantly.
The gold rally has been fueled by central bank purchases and interest rate cuts by the Federal Reserve. Gold has soared over 45% this year, breaking records and heading for its best performance since 1979. This has translated into impressive gains for gold mining stocks, or the stock market of gold mining companies.
Gold stocks, as represented by the MSCI gold mining index, have risen about 135% in 2025. In comparison, an index of large global semiconductor companies has only risen by 40%. This outperformance is unprecedented, with gold stocks on track to achieve their best-ever performance against chip stocks.
Among the top heavyweights in the MSCI Gold Mining Index, Newmont Corp. and Agnico Eagle Mines have been the standout performers. Their shares have more than doubled in value on the New York Stock Exchange. Other gold producers have also seen significant gains. Zijin Mining Group Co. has surged over 130% in Hong Kong, while London-listed Fresnillo Plc has almost quadrupled, becoming the top performer in the FTSE 100 index.
Gold mining stocks are expected to continue benefiting from margin expansions and re-ratings. Despite their strong performance, they remain relatively affordable, trading at 13 times estimated future earnings, slightly below their five-year average. In contrast, semiconductor stocks trade at 29 times, well above their five-year average. As gold continues to shine, investors' eyes are likely to stay on gold mining stocks.
