Barclays analyst Matthew Murphy raised the firm’s price target on Newmont to $62 from $57 and keeps an Equal Weight rating on the shares. In Q1, the global economy continued to beat expectations and the supply side faced challenges, the analyst tells investors in a research note. The firm again bumped up its medium-term copper and gold prices, but still expects downside from spot. With "consolidation taking hold," it raised base metal price targets and multiples, but retains a preference for gold over base equities.
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Published first on TheFly
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