Here's Why Newmont Stock Popped Today (Hint: Wall Street Likes its Valuation)

Newmont Corp (NEM) stock rose up to 5.4% following a TD Cowen analyst upgrade from hold to buy on valuation grounds, despite the analyst lowering the price target to $127 from $129. The analyst sees strength in gold's long-term outlook driven by central bank diversification away from U.S. dollar assets, positioning Newmont as an ideal way to play a potential gold recovery.