Stifel Initiates Buy on Newmont (NEM), Cites Stabilization and Growth

Newmont Corporation (NYSE:NEM) ranks among the best magic formula stocks to invest in. Citing its status as the largest gold producer in the world, Stifel began coverage of Newmont Corporation (NYSE:NEM) on July 8 with a Buy rating and a $73 price target.

Stifel Initiates Buy on Newmont (NEM), Cites Stabilization and Growth

In light of the successful Newcrest purchase and its divestiture program, the firm emphasizes Newmont’s operational stabilization and notes that it is in a strong position to reach its 2025 targets.

Aside from the commissioning of the Ahafo North shaft in 2027 and the expansion of Panel Caves 2 and 3 at Cadia in 2026 and 2027, Stifel also identified medium-term catalysts for Newmont Corporation (NYSE:NEM), such as anticipated enhancements in 2026 and 2027 as operations at Boddington, Lihir, Peñasquito, and Cerro Negro stabilize.

Newmont Corporation (NYSE:NEM), headquartered in Denver, Colorado, is a key player in gold mining. The company’s broad portfolio comprises world-class gold and copper assets in North and South America, Australia, and Africa.

While we acknowledge the potential of NEM to grow, 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 100x upside potential, check out our report about this cheapest AI stock.

Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

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