Newmont price target lowered to $50 from $55 at Argus

Argus analyst David Coleman lowered the firm’s price target on Newmont to $50 from $55 but keeps a Buy rating on the shares. Given global economic uncertainty, the war in Ukraine, and inflation, gold – already trading near the top of its five-year range – is likely to remain in demand, the analyst tells investors in a research note. Argus adds that Newmont’s balance sheet is clean, and the firm is positive on the stock’s current yield of about 3.8%.