Raymond James Touts Newmont Corporation (NEM) Low-Risk Gold Business Model, Hikes Price Target

Core Viewpoint - Newmont Corporation (NYSE:NEM) is highlighted as a top metal stock to invest in, with analysts at Raymond James raising the price target to $111 from $99, maintaining an Outperform rating [1][2]. Group 1: Financial Performance and Stability - The price target increase is attributed to Newmont's low-jurisdictional-risk global portfolio, which allows the company to generate solid cash flow amid rising gold prices, affirming its financial stability [2]. - Newmont's strong dividend framework enables it to share excess capital with shareholders, further enhancing its attractiveness as an investment [3]. Group 2: Market Position and Strategic Moves - Newmont Corporation is recognized as the world's leading gold mining company, also producing significant amounts of copper, silver, zinc, and lead, focusing on sustainable practices and strong ESG standards [4]. - The company recently agreed to sell 6.77 million shares of Fuertes Metals Corporation for $22 million, reducing its ownership stake from 24% to 19.5% [3]. Group 3: Analyst Sentiment - RBC Capital analyst Josh Wolfson maintains a bullish stance on Newmont, setting a price target of $120, indicating positive sentiment in the market [3].