Newmont price target raised to $57 from $56 at BMO Capital

BMO Capital analyst Jackie Przybylowski raised the firm’s price target on Newmont to $57 from $56 and keeps an Outperform rating on the shares. The company reported results that beat expectations on strong production volumes, the analyst tells investors in a research note. Newmont should not have the same leverage to gold as growth-focused or higher-cost peers, but it offers stability, a strong management team, and a conservative corporate strategy, BMO added.