Bank of America Trims Newmont Price Target While Maintaining Buy Rating

Bank of America has slightly adjusted its price target for Newmont Corporation (NEM) to $134 from a previous $135. Despite the marginal reduction, the bank reiterated its "Buy" rating, signaling sustained confidence in the gold miner's long-term value. The revision follows an update to financial models incorporating Newmont's latest three-year guidance and revised reserve data. Analysts also factored in year-end 2025 reserves data from Barrick Mining to refine their valuation of the sector leader. This move contrasts with CIBC’s more aggressive stance, which recently set a price target of $177 for the stock with an "Outperformer" rating. Investors remain focused on how these adjustments align with broader gold price (XAU/USD) forecasts and production efficiency across the industry.