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Scotiabank, Citi, and Raymond James Raise Newmont (NEM) Price Targets

Newmont Corporation (NYSE:NEM) is one of the 11 Most Profitable Cheap Stocks to Invest In Now. On January 26, Scotiabank increased its price target on Newmont Corporation (NYSE:NEM) from $114 to $152 and maintained its Outperform rating on the stock.

This decision comes as the firm is updating its price targets for gold and precious minerals companies under its coverage. Scotiabank raised its gold and silver price forecasts, citing ongoing economic and geopolitical uncertainty, along with central bank buying.

Image by Csaba Nagy from Pixabay

Earlier, on January 12, Citi raised its price target on Newmont Corporation (NYSE:NEM) from $104 to $118 and maintained its Buy rating. Citi pointed out that it is neutral on gold prices after the recent strong rally and expects some price moderation through the year.

Before that, on December 29, Raymond James also raised its price target on Newmont Corporation (NYSE:NEM) from $99 to $111 and kept its Outperform rating. The firm highlighted the company’s exposure to gold through a global portfolio with lower jurisdictional risk. This supports solid cash flow generation. Raymond James also pointed to Newmont Corporation’s (NYSE:NEM) flexible balance sheet, which provides the company with financial stability.

Newmont Corporation (NYSE:NEM) is a gold mining company that also produces copper, zinc, lead, and silver. It is one of the largest gold mining companies in the world.

While we acknowledge the potential of NEM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NEM and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 12 Best 5G Stocks to Invest In According to Hedge Funds and 12 Best American Energy Stocks to Buy Now.

Disclosure: None. This article is originally published at Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

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In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

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