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.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NEM: