Newmont price target raised to $129 from $114 at BofA

BofA raised the firm’s price target on Newmont (NEM) to $129 from $114 and keeps a Buy rating on the shares. The firm raise increased targets across the North American precious metals group. Many of the macro drivers that pushed gold prices higher “have intensified,” the analyst tells investors in a research note. BofA expects company capital returns in Q4 to be strong.