Newmont price target raised to $104 from $74 at Citi

Citi analyst Alexander Hacking raised the firm’s price target on Newmont (NEM) to $104 from $74 and keeps a Buy rating on the shares. The firm upped price targets in the gold sector to reflect its latest gold price forecasts. Citi is bullish on gold in the short-term due to “cyclical and tactical tailwinds.”