Newmont price target raised to $57 from $54 at Barclays

Barclays analyst Matthew Murphy raised the firm’s price target on Newmont to $57 from $54 and keeps an Equal Weight rating on the shares. While economic growth has remained better than expected, gold is a good hedge against further deterioration in the outlook, says the analyst, who continues to prefer gold over copper equities. A soft economic landing is possible, but monetary tightening is not done yet, contends Barclays.