The Globe and Mail reports in its Thursday edition that Stifel's Ralph Profiti commenced coverage on Newmont with a "buy" recommendation. The Globe's David Leeder writes that Mr. Profiti continues to target the shares at $73 (all figures U.S.). Analysts on average target the shares at $67.83. Mr. Profiti says in a note: "We believe Newmont's transformed portfolio of geologic and geographic diversity with a strong U.S. presence and a leaner cost structure beginning in 2026 will solidify its position as the No. 1 gold producer globally and set a strong foundation for higher market multiples. Newmont enters 2025 on the heels of successful divestiture program and ongoing integration and stabilization of the Newcrest assets following its acquisition in Nov, 2023. Despite a lack of visibility on operating and financial targets beyond 2025, we estimate Newmont's three year outlook will demonstrate stable attributable gold production. ... We expect to see marked improvement in 2026 and 2027 as Boddington, Lihir, Peñasquito and Cerro Negro operations are stabilized and the commissioning of the Ahafo North shaft in 2027 and build-out of Panel Caves 2 and 3 at Cadia in 2026 and 2027 serve as positive medium-term catalysts."
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