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Fly News Breaks for February 6, 2020
NEM
Feb 6, 2020 | 05:12 EDT
UBS analyst Cleve Rueckert initiated coverage of Newmont with a Neutral rating and $46 price target. The analyst forecasts flat volumes through 2022 with some cost savings in 2020 and 2021. However, "strong" free cash flow and shareholder returns support the downside, evidenced by the company's recent 79% dividend increase and $1B buyback, Rueckert tells investors in a research note. He views Newmont as fairly valued but with limited downside risk.
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