Citi raised the firm’s price target on Newmont (NEM) to $118 from $104 and keeps a Buy rating on the shares to reflect the latest guidance and commodity prices. Citi told investors in a research note that it is neutral on gold prices after the significant run-up, with expectations of some moderation throughout the year to average $3,925 per ounce in 2026. The firm added it anticipates estimated 2025 attributable production to be near the midpoint of guidance.
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