BMO Capital analyst Matt Murphy has maintained their bullish stance on NEM stock, giving a Buy rating yesterday.
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Matt Murphy has given his Buy rating due to a combination of factors including Newmont Mining’s strong financial performance and strategic cost management. The company’s free cash flow significantly exceeded both BMO’s and consensus expectations, highlighting its robust cash generation capabilities. Additionally, Newmont’s adjusted earnings per share and EBITDA surpassed forecasts, driven by favorable gold and by-product pricing, as well as effective management of general and administrative expenses.
Furthermore, Newmont’s production and sales figures were in line with expectations, while its all-in sustaining costs (AISC) were better than anticipated, reflecting efficient operational management. The company’s commitment to returning capital to shareholders and its strategic cost-cutting measures for 2025, including reductions in capital expenditures and exploration expenses, also contribute to the positive outlook. These factors, combined with Newmont’s stability and conservative corporate strategy, make it an attractive option for investors seeking reliability in the mining sector.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $86.00 price target.
NEM’s price has also changed dramatically for the past six months – from $53.150 to $88.910, which is a 67.28% increase.