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RBC Capital analyst Josh Wolfson maintains Newmont (NYSE:NEM) with a Outperform and raises the price target from $135 to $155.
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Several stocks moved significantly in market trading: Coinbase Global gained 5.8% following new SEC tokenization rules, CoreWeave fell 4.2% after announcing a $3 billion convertible debt offering, SanDisk jumped 6.2% on broad tech rally strength, and Newmont Corporation rose 2.2% as precious metals benefited from falling yields and a weaker dollar.
Newmont stock rose 2.8% as gold prices rebounded after the Federal Reserve raised interest rates to 3.75%-4% for the first time in three years. While higher rates typically make gold less attractive as an investment, gold prices recovered from yesterday's sell-off. Newmont stock trades at 15.7x trailing earnings with expected 15% annual earnings growth and a 0.9% dividend yield, making it fairly valued but not a compelling buy.
Newmont (NYSE:NEM) held its second-quarter earnings conference call on Thursday. Below is the complete transcript from the call. This content is powered by Benzinga APIs. For comprehensive financial data and