Raymond James raised the firm’s price target on Newmont (NEM) to $66 from $65 and keeps an Outperform rating on the shares following the Q3 results. Newmont offers investors exposure to gold through a lower jurisdictional risk, global portfolio that generates solid cash flow, and is supported by a strong balance sheet, the analyst tells investors in a research note.
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Read More on NEM:
- Newmont downgraded to Sector Perform from Outperform at Scotiabank
- Newmont downgraded to Neutral from Outperformer at CIBC
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- Newmont reports Q3 adjusted EPS 81c, consensus 86c
- Newmont Mining options imply 4.0% move in share price post-earnings