BofA Lifts PT on Newmont Corporation (NEM) to $115 From $105, Keeps a Buy Rating

Newmont Corporation (NYSE:NEM) is one of the best long term low volatility stocks to buy right now. On October 16, BofA lifted its price target on Newmont Corporation (NYSE:NEM) to $115 from $105 while keeping a Buy rating on the shares.

The firm told investors that it raised its price target for its North American precious metals coverage by an average of 16%, primarily due to the higher forecasts for gold and silver prices.

BofA added that according to the new forecasts of its commodities team, gold is anticipated to hit $5,000 per ounce and silver to reach $65 per ounce.

Newmont Corporation (NYSE:NEM) is a global producer in Canada, Mexico, the US, and several other countries. Its operations include Brucejack, Red Chris, Penasquito, Merian, Cerro Negro, Yanacocha, Boddington, Tanami, Cadia, Lihir, Ahafo, and NGM.

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.

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Disclosure: None. This article is originally published at Insider Monkey.