Sterne Agee Reiterates Buy Rating, $65 PT on Newmont Mining - Newmont (NYSE:NEM)

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In a report published Monday, Sterne Agee Group reiterated its Buy rating and $65.00 price target on Newmont Mining (NYSE: NEM).Sterne Agee noted, “NEM missed our 2Q earnings estimates on lower gold and copper sales volumes and realized pricing, and higher costs at Boddington and other Australia/New Zealand mines. Reduced capex budget by 10% and moving quickly on discretionary cost savings. Shares should recover as gold moves higher and second half cash flow accelerates. We would add to positions.”Newmont Mining closed on Friday at $46.09.

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