0200 GMT - Newmont has one of the strongest medium-term Ebitda growth outlooks among top gold stocks, according to Goldman Sachs analysts. In a note, they say Newmont's tier-1 operations support a five-year Ebitda compound annual growth rate of roughly 6%, versus a global peer average around 2%. The analysts initiate coverage on Newmont with a US$47.20 target on the miner's NYSE stock, a A$76.20 target on its ASX stock, and a buy call on both. Newmont's recent asset sales and improving cash generation should help it reduce debt and increase returns, say the analysts. The miner is also positioned for strong production growth. The analysts estimate a CAGR of roughly 5% on a three-year horizon, above most of its peers. Newmont is up 0.5% in Sydney at A$64.10. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
January 13, 2025 21:00 ET (02:00 GMT)
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