Scotiabank analyst Tanya Jakusconek raised the firm’s price target on Newmont to $48 from $46.50 and keeps a Sector Perform rating on the shares. The firm adjusted its gold price forecasts for 2024 and 2025, taking into account forecasts for interest rates, inflations, USD expectations, and incorporating stronger than expected purchasing of gold in the official sector, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NEM:
- Newmont Stock (NYSE:NEM): Set to Gain from a Gold Bull Market
- Newmont price target lowered to C$67 from C$68 at National Bank
- XME, PICK, COPX: Proposed Mining Mega Deal Bullish for These ETFs
- Newmont downgraded to Sector Perform from Outperform at National Bank
- Newmont price target raised to $48 from $43 at TD Securities