On September 23, Newmont Mining rose 3.02% in regular trading, trading at $126.8/share, with turnover of $3.39 billion. The rally came as multiple investment banks raised their target prices on the stock in rapid succession, coinciding with broader strength in gold prices.

Over the past two weeks, at least three major banks have lifted their price targets on Newmont Mining. RBC Capital raised its target to $155 from $135 while maintaining an Outperform rating; National Bank Financial adjusted its target to $140 from $120, keeping a Sector Perform rating; and Goldman Sachs raised its target to $127.50 from $110.60, maintaining a Buy rating. The consensus analyst mean target price tracked by FactSet has climbed to $139.51, implying roughly 10% upside from current levels.

The broader gold sector traded firmly higher. Among peers, Equinox Gold Corp. rose 4.89%, Coeur Mining gained 4.41%, Wheaton Precious Metals advanced 3.99%, Agnico Eagle Mines climbed 2.84%, and Barrick Mining added 2.78%. Newmont Mining also recently resolved longstanding disputes with Barrick Mining over the Nevada Gold Mines joint venture, paying $1.95 billion to consolidate key properties including the Fourmile project, a move analysts at UBS and TD Cowen view as highly accretive to long-term value.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)