Raymond James lowered the firm’s price target on Newmont to $61 from $62 and keeps an Outperform rating on the shares. With operations at Penasquito remaining suspended, the firm updated forecasts for Q3 to reflect a lower contribution from the mine. Even if the situation is resolved in the near term, there would be minimal production in the quarter given the expected ramp up times, the analyst tells investors in a research note.
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