Newmont Mining’s Expansion Is Good News, Says BMO Capital

Newmont Mining (NEM) recently announced that it will extend production at its its Ahafo operations by building the new Subika underground mine and expanding plant capacity by more than 50%.

BMO Capital Markets’ Andrew Kaip and his team are upbeat about the news, reiterating an Outperform rating and $40 price target on the stock Friday. Kaip writes that the increased production, and lower cost profile with reasonable development capital requirements, will be a positive for Newmont’s outlook.
Source: Barrons

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>