The Globe and Mail reports in its Friday, July 7, edition that Barclays analyst Matthew Murphy has elevated his recommendation for Newmont to "overweight" from "equal weight." The Globe's David Leeder writes that Mr. Murphy cut his share target back by $1 (U.S.) to $61 (U.S.). Analysts on average target the shares at $57.40 (U.S.). Mr. Murphy says in a note: "Newmont has underperformed the GDX by 15 per cent since the start of 2023. It now trades at 1.16 times P/NAV, well below its three-year average of 1.64 times. While there are still issues including a strike at Penasquito, integration of Newcrest Mining, and project resequencing, we still see scope for value creation from the Newmont-Newcrest asset mix and upgrade to "'overweight.'" The Globe reported on Nov. 2, 2021, that CIBC analyst Anita Soni had cut Newmont to "neutral" from "outperformer." It was then worth about $55 (U.S.). The Globe reported on April 5, 2023, that Citi analyst Alexander Hacking was keeping his "buy" recommendation for Newmont intact. It was then worth about $49.50 (U.S.). The Globe reported on April 12, 2023, CIBC had upgraded Newmont to "outperformer" from "neutral." The shares could then be had for about $48 (U.S.).