Stifel Initiates Buy on Newmont (NEM), Cites Stabilization and Growth

Newmont Corporation (NYSE:NEM) ranks among the best magic formula stocks to invest in. Citing its status as the largest gold producer in the world, Stifel began coverage of Newmont Corporation (NYSE:NEM) on July 8 with a Buy rating and a $73 price target.

In light of the successful Newcrest purchase and its divestiture program, the firm emphasizes Newmont’s operational stabilization and notes that it is in a strong position to reach its 2025 targets.

Aside from the commissioning of the Ahafo North shaft in 2027 and the expansion of Panel Caves 2 and 3 at Cadia in 2026 and 2027, Stifel also identified medium-term catalysts for Newmont Corporation (NYSE:NEM), such as anticipated enhancements in 2026 and 2027 as operations at Boddington, Lihir, Peñasquito, and Cerro Negro stabilize.

Newmont Corporation (NYSE:NEM), headquartered in Denver, Colorado, is a key player in gold mining. The company’s broad portfolio comprises world-class gold and copper assets in North and South America, Australia, and Africa.

While we acknowledge the potential of NEM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

Disclosure: None.