Newmont Mining Corp. (NEM) PT Raised to $57 at BMO Capital

BMO Capital analyst Jackie Przybylowski raised the price target on Newmont Mining Corp. (NYSE: NEM) to $57.00 (from $56.00) while maintaining a Outperform rating.

The analyst commented, "Newmont reported results that beat expectations on strong production volumes. The company also updated progress on its asset sales, including monetization of Batu Hijau payments. We expect the company will comment further on its July 25 conference call. Capital returns will also be topical on the call as Newmont generates cash flows from its assets (at strong gold prices), from the previously-announced asset sales, and from expected future divestments. We maintain our Outperform rating; our one-year target is increased to US$57.00/share (from US $56.00)."

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