Newmont price target raised to $64 from $63 at BMO Capital

BMO Capital raised the firm’s price target on Newmont (NEM) to $64 from $63 and keeps an Outperform rating on the shares after its Q1 earnings beat. Drivers included better-than-expected sales, realized pricing, and lower costs, with mining output from Cadia, Penasquito, Lihir, and Ahafo having stood out, the analyst tells investors in a research note. BMO adds that Newmont’s production should also pick up in the second half of the year.