/biz/ - Business & Finance

>Earnings Spotlight: Newmont (NEM, $61.00) – It’s a good time to be a gold mining company like Newmont. Gold prices are up by double digits so far this year while the market has retreated by about 10%, and NEM shares have jumped by 37%. A variety of factors – but namely the uncertainty around COVID-19’s global economic impact as well as low interest rates – are poised to keep gold propped up, says JPMorgan’s Tyler Langton, prompting the analyst to raise his price target in April from $61 per share to $70. For the quarter to be reported before the May 5 open, analysts are looking for a whopping 49.5% jump in revenues to $2.7 billion, filtering down to a 27.3% improvement in profits to 42 cents per share.