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Newmont Corporation CHESS (NEM): New Buy Recommendation for This Basic Materials Giant

Tipranks - Tipranks - Mon Apr 13, 7:22AM CDT

In a report released on April 10, Fahad Tariq from Jefferies maintained a Buy rating on Newmont Corporation CHESS, with a price target of A$235.71. The company’s shares closed last Friday at A$167.80.

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Tariq covers the Basic Materials sector, focusing on stocks such as Ivanhoe Mines, Capstone Copper, and Lundin Gold. According to TipRanks, Tariq has an average return of 18.3% and a 66.94% success rate on recommended stocks.

Newmont Corporation CHESS has an analyst consensus of Strong Buy, with a price target consensus of A$206.96, implying a 23.34% upside from current levels. In a report released on April 3, J.P. Morgan also maintained a Buy rating on the stock with a A$188.00 price target.

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Based on Newmont Corporation CHESS’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of A$6.93 billion and a net profit of A$1.32 billion. In comparison, last year the company earned a revenue of A$5.65 billion and had a net profit of A$1.4 billion

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