BofA raised the firm’s price target on Newmont to $54 from $50 and keeps a Buy rating on the shares. Based on better than expected Q2 earnings, the firm increased its 2024 EPS estimate to $3.08 from $2.77. The firm also increased 2025 EPS to $5.63 from $5.57 and increased 2026 EPS to $5.30 from $5.24 based on a lower share count from expected share buyback activity, the analyst tells investors.
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