The Globe and Mail reports in its Friday, July 21, edition that National Bank analyst Mike Parkin continues to rate Newmont "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Parkin targets the shares at $93. Analysts on average target the shares at $78.13. Mr. Parkin says in a note: "We continue to view Newmont as a Top Pick as we like the outlook for the company. Newmont has underperformed the S&P/TSX Global Gold Index by approximately 14 per cent year-to-date, which we believe is mostly due to the news surrounding the bid for Newcrest Mining. Since the initial bid was made public in early February, Newmont is down 7.3 per cent versus the Global Gold Index, which is up 2.8 per cent since the first bid. The company continues to work toward closing the deal in 4Q23 and recently announced Canadian Competition Bureau clearance for the acquisition. In our view, Newmont screens well in the senior producers, with the revised proposal for Newcrest now known to the market, finishing 2022 in line on production guidance, growing reserves 4 per cent year-over-year and trading near a LTM [last 12 month] trough multiple on a FY1 EV/EBITDA basis and below the LTM average P/NAV multiple."