{"id":67301,"date":"2024-11-19T14:44:06","date_gmt":"2024-11-19T14:44:06","guid":{"rendered":"https:\/\/efimarkets.com\/blog\/?p=67301"},"modified":"2024-11-19T14:46:40","modified_gmt":"2024-11-19T14:46:40","slug":"newmonts-stock-climbs-as-j-pmorgan-upgrades-its-rating-to-overweight","status":"publish","type":"post","link":"https:\/\/bhimmarkets.com\/blog\/newmonts-stock-climbs-as-j-pmorgan-upgrades-its-rating-to-overweight\/","title":{"rendered":"Newmont&#8217;s stock climbs as J.P. Morgan upgrades its rating to &#8216;overweight.&#8217;"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"67301\" class=\"elementor elementor-67301\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-80abe0f e-con-boxed e-flex e-con\" data-id=\"80abe0f\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4e4fe26 elementor-widget elementor-widget-image\" data-id=\"4e4fe26\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.0 - 24-04-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" loading=\"lazy\" width=\"668\" height=\"455\" src=\"https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/11\/new.png\" class=\"attachment-large size-large wp-image-67302\" alt=\"Newmont&#039;s stock climbs\" srcset=\"https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/11\/new.png 668w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/11\/new-300x204.png 300w\" sizes=\"(max-width: 668px) 100vw, 668px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0f0d49e e-con-boxed e-flex e-con\" data-id=\"0f0d49e\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5f9c385 elementor-widget elementor-widget-text-editor\" data-id=\"5f9c385\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.0 - 24-04-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<h1 class=\"entry-title\"><span style=\"color: #000000;\">Newmont\u2019s stock climbs<\/span><\/h1><p><span style=\"color: #000000;\">Newmont&#8217;s stock climbs rose by over 2% in pre-market trading on Tuesday after <strong>J.P. Morgan<\/strong> upgraded the stock\u2019s rating from \u201cneutral\u201d to <strong>\u201coverweight.\u201d<\/strong> Analysts highlighted updated guidance and positive catalysts, including asset sales, as key drivers for this optimistic outlook.<\/span><\/p><h3><span style=\"color: #000000;\">Revised Gold and Copper Production Targets<\/span><\/h3><p><span style=\"color: #000000;\">J.P. Morgan cited Newmont\u2019s <strong>medium-term production goals<\/strong> for gold and copper as pivotal. These updates, coupled with progress at major operational sites, signal stronger future performance.<\/span><\/p><h3><span style=\"color: #000000;\">Adjusted Valuation and Price Target<\/span><\/h3><p><span style=\"color: #000000;\">The upgrade includes a revised price target of <strong>A$72.50,<\/strong> slightly lower than the previous <strong>A$74.00.<\/strong> The valuation combines <strong>10% discounted cash flow (DCF)<\/strong> and <strong>90% earnings multiple modeling<\/strong>, aligning with the U.S. investor base, where most of Newmont\u2019s trading activity occurs.<\/span><\/p><h3><span style=\"color: #000000;\">Operational Site Developments<\/span><\/h3><p><span style=\"color: #000000;\">Recent site visits to Newmont\u2019s <strong>Australian operations<\/strong> at <strong>Tanami<\/strong> and <strong>Cadia<\/strong> revealed significant progress:<\/span><\/p><ul><li><span style=\"color: #000000;\"><strong>Tanami Expansion 2:<\/strong> Scheduled for commissioning in the <strong>second half of 2027<\/strong> with ongoing exploration and efficiency upgrades.<\/span><\/li><li><span style=\"color: #000000;\"><strong>Cadia Continued Operations Project:<\/strong> Focused on community and regulatory partnerships to extend the mine\u2019s lifespan beyond <strong>2050.<\/strong><\/span><\/li><\/ul><h3><span style=\"color: #000000;\">Boost from Asset Sales<\/span><\/h3><p><span style=\"color: #000000;\">The recent sale of the Musselwhite mine for <strong>$810 million<\/strong> exceeded expectations of <strong>$485 million,<\/strong> providing a strong financial boost. Additional asset sales planned by <strong>March 2025<\/strong> could further bolster the stock\u2019s short-term performance.<\/span><\/p><h3><span style=\"color: #000000;\">Positive Outlook Despite Valuation Adjustment<\/span><\/h3><p><span style=\"color: #000000;\">While the discounted cash flow valuation was reduced by <strong>20%,<\/strong> J.P. Morgan highlighted a <strong>12% upside potential<\/strong> in Newmont shares. This projection heavily factors the 1-year <strong>EV\/EBITDA multiple,<\/strong> indicating room for further growth.<\/span><\/p><h5><span style=\"color: #000000;\">Trade Anytime, Anywhere with EFI\u00a0Markets<\/span><\/h5><p><span style=\"color: #000000;\">EFI Markets is a trusted<\/span>\u00a0<a href=\"https:\/\/efimarkets.com\/stocks\">stock market trading platform<\/a><span style=\"color: #000000;\">,\u00a0making trading easy with its efficient interface and a variety of tools and features.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Newmont\u2019s stock climbs Newmont&#8217;s stock climbs rose by over 2% in pre-market trading on Tuesday after J.P. Morgan upgraded the stock\u2019s rating from \u201cneutral\u201d to \u201coverweight.\u201d Analysts highlighted updated guidance and positive catalysts, including asset sales, as key drivers for this optimistic outlook. Revised Gold and Copper Production Targets J.P. Morgan cited Newmont\u2019s medium-term production &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/bhimmarkets.com\/blog\/newmonts-stock-climbs-as-j-pmorgan-upgrades-its-rating-to-overweight\/\"> <span class=\"screen-reader-text\">Newmont&#8217;s stock climbs as J.P. Morgan upgrades its rating to &#8216;overweight.&#8217;<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":67302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[3],"tags":[20,14,5,34,37,43,10],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Newmont&#039;s stock climbs as J.P. 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