Newmont price target lowered by $1 at BMO Capital, here’s why

BMO Capital lowered the firm’s price target on Newmont to $62 from $63 and keeps an Outperform rating on the shares. The firm’s recent visit to Newmont’s Tanami and Boddington mines in Australia highlighted not just the value-creating projects at the operations, but also the value of Newmont’s centralized corporate structure, its ability to support innovation at the sites, and extended learnings and best practices across the entire operation, the analyst tells investors in a research note.