UBS upgraded Newmont to Buy from Neutral with a price target of $50, up from $40. UBS remains constructive on the gold price and believes this will drive consensus earnings upgrades, the analyst tells investors in a research note. UBS also expects catalysts from $2B-$4B of divestments over the next 12 months to accelerate deleveraging and cash returns.
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 price target lowered to A$74 from A$76 at BofA
- Agnico Eagle price target lowered to $82 from $85 at BofA
- Newmont Mining call volume above normal and directionally bullish
- Irving finalizes Yamagano-Noto JV term sheet with Newmont, Sumitomo
- Newmont price target raised to $48 from $46.50 at Scotiabank