Veteran investor Josh Brown added Newmont Corporation (NEM), which specializes in mining gold, to his list of "best stocks" earlier this week, he reported on CNBC recently.

Brown is the co-founder and CEO of Ritholtz Wealth Management.The Largest Gold Mine in the World by Production Volume

A closeup image of a miner holding a pile of gold nuggets.

Why Brown Is Bullish on NEM

Gold prices are up 24% so far in 2025, and "this price level is basically double Newmont's all-in, sustaining (gold mining) costs," Brown said.  Specifically, the company spends $1,600 to mine 1 troy ounce of gold, and it can sell the same amount of the metal for $3,300, the longtime investor stated.

According to Brown, that is the most favorable spread that NEM has enjoyed "in awhile."

Brown noted that he does not own NEM at this point. However, he said that those who did not benefit from the surge of gold prices could profit from the rally by buying NEM stock.

That's because the company, which is the largest publicly traded gold miner in the U.S., will get an earnings boost from today's high gold prices, Brown reported.

The Recent Price Action of NEM

In the last month, the shares have climbed 15.5%, while they have gained 33% in the last three months.

While we acknowledge the potential of NEM, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than NEM but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

Disclosure: None. This article is originally published at Insider Monkey.

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