Deutsche Bank Impressed With Newmont Mining

Deutsche Bank attended Newmont Mining NEM's Investor Day and was impressed with “management's articulation of new medium-term growth targets and innovative gold-price linked dividend policy”. Deutsche Bank, which maintains a Buy rating and a PT of $85 on NEM, expounded further, “Importantly, Newmont underscored that internal exploration efforts could potentially double its resource base (current reserves of 93.5m oz of cold and 9.4b lbs of copper) over next decade – essentially creating another Newmont within Newmont. Re-it Buy.” NEM closed yesterday at $58.29.