CIBC Raises its Price Target on Newmont Corporation (NEM) to $177 and Reiterates an Outperformer Rating

Price Target Adjustments - CIBC raised its price target on Newmont Corporation (NYSE:NEM) to $177 from $112 and reiterated an Outperformer rating, following an increase in gold price forecasts to $6,000 per ounce in 2026 and $6,500 in 2027 [1] - UBS also raised its price target on Newmont Corporation to $160 from $125 while maintaining a Buy rating [2] - Scotiabank lifted its price target to $152 from $114, citing updates across its Gold and Precious Minerals coverage after raising both gold and silver forecasts [3] Market Context - The demand drivers for precious metals observed in 2025 are expected to persist into 2026, supporting the price target increases [1] - Scotiabank highlighted ongoing economic uncertainty, geopolitical risks, and continued central bank buying as key factors for higher long-term metal prices [3] Company Overview - Newmont Corporation is one of the world's largest gold producers, with operations in North America, Latin America, Australia, Africa, and parts of Asia-Pacific, and has exposure to multiple metals including copper, silver, zinc, and lead [4]