Scotiabank, Citi, and Raymond James Raise Newmont (NEM) Price Targets

This determination comes arsenic the steadfast is updating its terms targets for golden and precious minerals companies nether its coverage. Scotiabank raised its golden and metallic terms forecasts, citing ongoing economical and geopolitical uncertainty, on with cardinal slope buying.

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Earlier, connected January 12, Citi raised its terms people connected Newmont Corporation (NYSE:NEM) from $104 to $118 and maintained its Buy rating. Citi pointed retired that it is neutral connected golden prices aft the caller beardown rally and expects immoderate terms moderation done the year.

Before that, connected December 29, Raymond James besides raised its terms people connected Newmont Corporation (NYSE:NEM) from $99 to $111 and kept its Outperform rating. The steadfast highlighted the company’s vulnerability to golden done a planetary portfolio with little jurisdictional risk. This supports coagulated currency travel generation. Raymond James besides pointed to Newmont Corporation’s (NYSE:NEM) flexible equilibrium sheet, which provides the institution with fiscal stability.

Newmont Corporation (NYSE:NEM) is simply a golden mining institution that besides produces copper, zinc, lead, and silver. It is 1 of the largest golden mining companies successful the world.

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Disclosure: None. This nonfiction is primitively published astatine Insider Monkey.