Newmont stock rises as gold rebounds; Raymond James lifts $111 target
Newmont Corp shares climbed 2.2% to $102.00 in midday trading Tuesday, rebounding after a 5.6% drop Monday as gold prices steadied. Spot gold rose 0.9% to $4,369.59 an ounce, recovering from its sharpest daily loss since October. Raymond James raised its price target on Newmont to $111. CEO Tom Palmer will step down Dec. 31, with Natascha Viljoen set to take over Jan. 1.