Goldman Sachs downgraded Newmont (NEM) to Neutral from Buy with a $60.90 price target The firm sees more limited valuation upside following the stock’s recent outperformance. While Newmont’s business “remains defensive,” the company’s valuations now appear fairer relative to peers, with cost improvements remaining a 2-3yeasr story, the analyst tells investors in a research note.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NEM:
- Newmont price target raised to $68 from $60 at UBS
- PLTR, SMCI, NFLX: The Best-Performing Stocks During the Year’s First Half
- Newmont Mining call volume above normal and directionally bullish
- Newmont price target raised to C$100 from C$94 at National Bank
- NEM, B, KGC: Central Banks Plan to Boost Gold Reserves to Record Levels