JPMorgan upgraded Newmont (NEM) to Overweight from Neutral with a price target of A$72.50, down from A$74. The company’s updated guidance rebases expectations, while news from additional asset sales remain positive share catalysts, the analyst tells investors in a research note. The firm says Newmont’s quarterly update “came with an interesting sequence of messaging around short- and medium-term guidance.” It views Tanami and Cadia site visits and the Musselwhite sale as net positives.
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