Newmont price target raised to $56 from $55 at BMO Capital

BMO Capital analyst Jackie Przybylowski raised the firm’s price target on Newmont to $56 from $55 and keeps an Outperform rating on the shares after its Q1 earnings beat. The company beat expectations for production, cost, and earnings, which should support stronger confidence in the gold sector and Newmont’s ability to generate strong free cash flows at current high gold prices, the analyst tells investors in a research note.