Goldman Sachs initiated coverage of Newmont (NEM) with a Buy rating and $47.20 price target As major projects progress and $3B of divestments complete, Newmont’s portfolio will transition to a largely Tier 1 asset base, supporting accelerated de-leveraging and capital management, the analyst tells investors in a research note. The firm says that despite above peer production and EBITDA growth, Newmont is trading at a discount to its Australian gold coverage.
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