Newmont To Appeal South Jakarta Court Filing

Deutsche Bank has published a research report on Newmont Mining NEM after the company updated it's status on the Indonesian ruling, which has elicited a good entry point for the company. In the report, Deutsche Bank writes "Newmont (NEM) will appeal a South Jakarta District court ruling that PT Pukuafu Indah (part of Yusuf Merukh group) is entitled to receive the 31% stake in PT Newmont Nusa Tengara (NNT) (owner/operator of Batu Hijau gold-copper mine) which is undergoing an orderly divestiture to In-donesian majority ownership. The District's decision is not enforceable during appeal and should have no effect on Batu's current shareholder structure or operations. In our opinion, recent share price underperformance is overdone, re-it Buy." Deutsche Bank maintains its Buy rating and $77 price target. Newmont Mining closed yesterday at $59.65.