BMO Capital analyst Jackie Przybylowski has maintained their bullish stance on NEM stock, giving a Buy rating on February 28.
Jackie Przybylowski’s rating is based on a comprehensive analysis of Newmont Mining’s strategic initiatives and operational successes. His confidence in the company’s ability to integrate Newcrest assets and reach its “full potential” was bolstered by the clear and credible path forward presented by the company. The successful resolution of the recent strike and the subsequent resumption of operations, coupled with maintained strong community and worker relationships, underscore the company’s resilience and effective management. Przybylowski was also impressed by the cooperation between the company’s sites and the Operational Support Network, which is indicative of a robust internal structure.
Furthermore, the shift observed since the last visit, from identifying opportunities to celebrating realized successes, played a crucial role in maintaining the Outperform rating. The report highlights the proactive involvement of workers in the Full Potential program, demonstrating a committed workforce aiming to replicate improvements across other assets. Przybylowski also acknowledges the company’s stability, strong management team, and conservative strategy as attractive qualities to investors. These elements, combined with the anticipated access to higher gold grades in the future and a solid exploration program, justify the Buy rating and the optimistic one-year target price for Newmont Mining’s stock.
In another report released on February 28, Jefferies also initiated coverage with a Buy rating on the stock with a $38.00 price target.
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Newmont Mining (NEM) Company Description:
Newmont Corporation is a mining company and has the world’s largest gold reserve base in the industry. It engages in the exploration and production of gold, copper, silver, zinc, and lead.
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