Newmont price target lowered to $45 from $60 at Citi

Citi lowered the firm’s price target on Newmont to $45 from $60 and keeps a Buy rating on the shares. Citi’s commodities team expects average gold prices may trend higher over the next six months to $2,300 per ounce, the analyst tells investors in a research note. The firm updated its model for Newmont to incorporate the guidance inclusive of Newcrest’s assets and Citi’s latest gold deck.