Deutsche Bank Comments On Newmont Mining Conference

According Deutsche Bank, Newmont Mining NEM management provided good detail on their recently announced 6‐ year target to reach 7m oz of gold production by 2017. Deutsche Bank said that Newmont also highlighted the dichotomy between its valuation vis-a-vis the S&P 500 which puts NEM at roughly at a 1/3rd discount to even broad market PE multiples. “As a result, we believe the pendulum continues to swing more in favor of a share buy-back given management's firm belief in the disconnect between its share price and underlying fundamentals.” Newmont Mining closed yesterday at $52.31.