Newmont Mining Corporation’s (NEM) Price Target Raised

Jefferies & Company, Inc. has raised the price target for Newmont Mining Corporation (NYSE: NEM) from $54 to $65.

Jefferies believes that the combination of macro, micro, and technical drivers should allow gold prices to achieve higher highs, and higher lows in the next 12-24 months.

The company reported EPS of $1.14 for the fourth-quarter, well ahead of Jefferies’ estimate of $0.87, and the consensus estimate of $0.79.

Jefferies continues to rate Newmont Mining Corporation as a Buy.