Newmont Corporation (NYSE:NEM) has attracted significant hedge fund interest, making it one of the 11 Best Mineral Stocks to Buy According to Hedge Funds.Raymond James Raises PT on Newmont Corporation (NEM) from $66 to $67; Maintains ‘Outperform’ Rating

A closeup view of a large gold mine, illustrating the company's gold properties.

On July 3, 2025, Raymond James increased its price target on Newmont Corporation (NYSE:NEM) from $66 to $67, maintaining an ‘Outperform’ rating. This revision is attributed to the inclusion of second-quarter commodity prices and recent asset sales.

The Q2 results of Newmont Corporation (NYSE:NEM) will reflect limited production from divested assets such as Akyem and Porcupine. These assets were sold earlier in April 2025, as part of the company’s sweeping divestiture plan, generating after-tax proceeds of $850 million. Additionally, on July 15, 2025, Newmont secured $470 million in cash, selling equity stakes in Greatland Resources and Discovery Silver.

These divestitures align with the company’s goal to generate $3 billion in after-tax proceeds in 2025, supporting its capital allocation strategy and strengthening its focus on core assets. Meanwhile, Raymond James predicts higher sustaining capital and reclamation costs, which may constrain cash flows. The company’s share price is up over 60% on a YTD basis.

Newmont Corporation (NYSE:NEM), primarily a U.S.-based gold mining company, explores for copper, silver, zinc, lead, and other metals. It is included in our list of the Best Material Stocks.

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