Citigroup Maintains Buy on Newmont, Lowers Price Target to $45
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Alexander Hacking has maintained a Buy rating on Newmont (NYSE:NEM) but has lowered the price target from $60 to $45.
April 04, 2024 | 3:24 pm
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Citigroup maintains a Buy rating on Newmont but lowers the price target from $60 to $45.
While the Buy rating suggests Citigroup's positive outlook on Newmont's fundamentals, the reduction in the price target could indicate a reassessment of the company's future growth prospects or market conditions. This mixed signal might lead to short-term uncertainty among investors, potentially stabilizing the stock price as the market digests the news.
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