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Fly News Breaks for May 11, 2016
NEM
May 11, 2016 | 07:10 EDT
Goldman analysts led by Andrew Quail upgraded Newmont Mining to Buy and raised his price target to $36 from $23.30. The analyst said Merian organic growth is now less than 6 months away and there is a possible Indonesia asset sale on the horizon. Quail believes Newmont is well positioned to outperform given his revised gold price deck that was lifted by 10-15% over the next three years, and for 2017, raised the average to $1,150/oz from $1,000/oz.