Newmont price target raised to $96 from $84 at Raymond James

Raymond James analyst Brian MacArthur raised the firm’s price target on Newmont (NEM) to $96 from $84 and keeps an Outperform rating on the shares. Gold and silver price forecasts have been raised for both the near and long term, reflecting strong year-to-date performance, ongoing economic and political uncertainty, and expectations of higher operating and incentive costs tied to increased reserve and resource pricing, the analyst tells investors in a research note.