Analysts Lift Price Targets on Newmont as Gold Surges and Q2 Impresses
On the same day, CIBC analyst Anita Soni maintained a Neutral (Hold) rating while lifting the target from $60 to $74, reflecting expectations for potential upside. Both moves highlight analysts' recognition of Newmont's operational momentum and its strong leverage to gold prices.
Photo by Ricardo Gomez Angel on Unsplash
These ratings came amidst Newmont's stellar second quarter, where the company crushed expectations by earning $1.43 per share, beating the forecast of roughly $1.18; revenue surged, buoyed by stronger gold prices averaging over $3,320 an ounce.
Headquartered in Denver, Colorado, Newmont is the world's leading gold miner, with diversified assets spanning North and South America, Africa, and Australia. It also mines copper, silver, lead, and zinc, and recently completed a $17 billion acquisition of Newcrest while divesting non‑core assets to bolster its balance sheet.
While we acknowledge the potential of NEM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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