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Goldman Sachs pointed out that global capital is accelerating its shift from financial assets to hard assets such as commodities in search of safe havens, forming a "hard asset rotation." This trend is expected to drive the prices of metals like copper and gold to remain high in the long term, potentially even surpassing the support of physical supply and demand fundamentals. Due to the relatively small scale of the metal market, limited supply elasticity, and easier storage, the marginal impact of capital inflows is particularly significant. This structural allocation shift may lead to a long-term premium for certain commodities

- In response to increasing volatility in global stock markets, investors are shifting funds into hard assets like commodities for risk mitigation.  
- Goldman Sachs identifies this "hard asset rotation" as a key driver for maintaining high metal prices, which could surpass levels supported by physical supply and demand fundamentals.  
- The firm notes that ongoing asset allocation adjustments may sustain elevated copper prices and create structural premiums in the market, amidst risks tied to changing investor sentiment and macroeconomic uncertainty.

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Newmont

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ISHRS MSCI Glb Slct Met & Mining

SPDR S&P Mtls & Mng

iShares Copper and Metals Mining ETF

VanEck Junior Gold Miners ETF

iShares MSCI Global Silver Miners

Abrdn Gold ETF Trust

Sprott Junior Copper Miners ETF

United States Copper Index

iShares Gold Trust

Pro Ultr GLD

EFUND GOLD MI-R

Global X Copper Miners

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YieldMax Gold Miners Opt Inc Strgy ETF

Roundhill Gold Miners Weeklypay ETF

Us Gbl GLD & Met

Sprott Copper Miners ETF

Sprott JR Gold Miners ETF

ChinaAMC CSI SH-SZ-HK Gold Industry Equity ETF

Abrdn Precious Metals Basket ETF Trust

EFUND GOLD MI ETF

EFUND GOLD MI-U

Sprott Active Gold & Silver Miners ETF

Sprott GLD Miners Etf

ChinaAMC Gold ETF

Wisdomtree Efficient Gold Plus Gold Miners Stgy Fd - ETF

iShares MSCI Global Gold Miners

Goldman Sachs: Global capital begins "hard asset rotation," commodities may welcome long-term premiums

Newmont Taking 'Appropriate' Steps to Address Issues With Barrick Mining Over Nevada Gold Mines Performance Degradation

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Barrick Mining

Newmont Taking 'Appropriate' Steps to Address Issues With Barrick Mining Over Nevada Gold Mines Performance Degradation

Newmont says position on North America joint ventures operations following Barrick IPO announcement

Newmont says position on North America joint ventures operations following Barrick IPO announcement

Newmont Corporation (NYSE:NEM) shares rose 4.8% after Royal Bank of Canada upgraded its price target from $120 to $125, maintaining an outperform rating. Other analysts also increased their targets, with Goldman Sachs raising it to $123.90 and Canaccord Genuity to $140. The stock's average rating is "Buy" with a target of $124.83. Insiders hold 0.05% of shares, while institutional investors own 68.85%. Newmont has a market cap of $131.82 billion and operates globally in gold mining.

Market Beat

Newmont (NYSE:NEM) Trading 4.8% Higher  After Analyst Upgrade

Shares of Freeport-McMoRan Inc. (FCX) rose 4.85% to $63.61 on a strong trading day, outperforming competitors like Newmont Corp. (NEM), which increased by 4.69%. The S&P 500 Index and Dow Jones Industrial Average also saw gains of 0.47% and 0.04%, respectively. Freeport-McMoRan is currently 8.40% below its 52-week high of $69.44, reached on January 29th. Trading volume was 14.7 million, below the 50-day average of 19.7 million.

- Freeport-McMoRan Inc. (FCX) shares increased by 4.85% to $63.61 amidst a positive trading session for the stock market.  
- The stock is now 8.40% below its 52-week high of $69.44 reached on January 29th, while trading volume was 14.7 million, which is below its 50-day average of 19.7 million.  
- The S&P 500 Index rose 0.47% and the Dow Jones Industrial Average increased by 0.04% on the same day.

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Freeport Mcmoran

iShares Dow Jones US

Invesco DB TR Base Metals ETF

iShares Core S&P 500

ProShares Ultra Dow30 ETF

Pro UltrPro Dow30

SPDR O&G Ex & Prd

Global X Silver Miner

Guggenheim DJIA Ave Div

SPDR S&P 500

iShares US Oil & Gas Expl & Prod

ISHRS S&P Glb Engy

SPDR Djia

VG S&P 500

SPDR Energy Select

Freeport-McMoRan Inc. Stock Outperforms Competitors On Strong Trading Day

Newmont Corp. (NEM) shares rose 4.69% to $120.73 on Monday, marking its second consecutive day of gains. However, the stock underperformed compared to competitors like Royal Gold Inc. (RGLD), which increased by 5.06%. Newmont is still 10.49% below its 52-week high of $134.88 reached on January 29. Trading volume was 7.4 million, falling short of the 50-day average of 9.6 million. The S&P 500 Index and Dow Jones Industrial Average also saw gains of 0.47% and 0.04%, respectively.

Royal Gold

Newmont Corp. Stock Underperforms Monday When Compared To Competitors Despite Daily Gains

Newmont is collaborating with Barrick to improve the underperforming Nevada Gold Mines operation. Newmont emphasizes that any transactions must adhere to existing venture agreements, particularly regarding transfer restrictions. The focus is on reversing the decline in performance and asset value over the past six years. Barrick plans to float a minority stake in its North American gold assets, including Nevada Gold Mining and the Pueblo Viejo mine, while retaining a controlling interest. Newmont holds a 38.5% stake in Nevada and a 40% stake in Pueblo Viejo.

Newmont Working With Barrick to Lift Nevada Operation, Calls for Venture Agreements to Be Respected

Newmont has expressed dissatisfaction with Barrick's handling of the Nevada project, citing several years of under-performance. Bloomberg posted on X, highlighting Newmont's concerns about the management and operational challenges faced by the project. The criticism comes amid ongoing discussions about the project's future and potential improvements. Both companies have been involved in the project, which has faced scrutiny over its performance metrics and strategic direction. The Nevada project remains a significant focus for both Newmont and Barrick as they seek to optimize operations and enhance value.

CoinLive

Newmont Criticizes Barrick's Management of Nevada Project

Macquarie analyst Adam Baker has maintained a Buy rating on Newmont Corporation CHESS (NEM) with a price target of A$185.00. Baker, a 4-star analyst with a 62.65% success rate, focuses on the Basic Materials sector. Additionally, Morgans upgraded the stock to a Buy with a price target of A$190.00 in a report released on February 3.

Tip Ranks

Newmont Corporation CHESS (NEM): New Buy Recommendation for This Basic Materials Giant

Macquarie Infrastructure raised Newmont's price target from $115.00 to $126.00, maintaining an "outperform" rating. This indicates a potential upside of 9.31% from the current price. Other analysts have also adjusted their ratings, with a consensus target price of $124.83. Newmont's shares opened at $115.27, with a market cap of $125.79 billion. Recent insider transactions and institutional investments reflect significant interest in the stock, which is primarily focused on gold mining and related activities.

Newmont (NYSE:NEM) Price Target Raised to $126.00

Freeport-McMoRan Inc. (FCX) shares rose 2.45% to $60.67 on Friday, ending a two-day losing streak, while the S&P 500 and Dow Jones also saw gains. However, FCX underperformed compared to competitors like Newmont Corp. (NEM), which increased by 6.26%. The stock remains 12.63% below its 52-week high of $69.44 reached on January 29th. Trading volume was 20.1 million, surpassing the 50-day average of 19.6 million.

Freeport-McMoRan Inc. Stock Underperforms Friday When Compared To Competitors Despite Daily Gains

ABN AMRO Bank N.V. has acquired a new stake in Newmont Corporation (NYSE:NEM), purchasing 45,828 shares valued at approximately $3.86 million during Q3. Other institutional investors have also increased their holdings in Newmont. Recent analyst ratings show a consensus "Buy" with a price target of $117.11. Newmont's stock opened at $108.40, with a market cap of $118.29 billion and a P/E ratio of 16.83. The company is a leading global gold mining firm, engaged in various stages of gold production and development.

ABN AMRO Bank N.V. Purchases New Stake in Newmont Corporation $NEM

Newmont Corporation (NYSE:NEM) shares fell 7.2% to $108.40 during mid-day trading, with a trading volume increase of 38%. Analysts have mixed ratings, with price targets ranging from $40 to $140. The stock has a market cap of $118.29 billion and a PE ratio of 16.83. Recent insider selling was noted, and institutional investors hold 68.85% of shares. Newmont is a leading gold mining company, engaged in exploration and production.

Newmont (NYSE:NEM)  Shares Down 7.2%   - What's Next?

Newmont member of workforce has died following incident at Tanami mine site on February 4

Newmont member of workforce has died following incident at Tanami mine site on February 4

Josh Brown, CEO of Ritholtz Wealth Management, has purchased shares in Newmont Corporation (NYSE: NEM) as gold prices approach an all-time high. He believes the current economic climate, marked by a cooling labor market and a banking crisis, will drive investors towards gold as a safe haven. Brown views Newmont as a strong investment due to its quality and recent acquisitions, although he considers it a short-term trade. Citigroup also maintains a "buy" rating on Newmont, with a price target suggesting a 20% upside.

Invezz

Josh Brown just bought Newmont Corporation stock: here’s why

Tradr 2X Long NEM Daily ETF(NWMX.US)

Goldman Sachs: Global capital begins "hard asset rotation," commodities may welcome long-term premiums

Newmont Taking 'Appropriate' Steps to Address Issues With Barrick Mining Over Nevada Gold Mines Performance Degradation

Newmont says position on North America joint ventures operations following Barrick IPO announcement

Newmont (NYSE:NEM) Trading 4.8% Higher After Analyst Upgrade

Freeport-McMoRan Inc. Stock Outperforms Competitors On Strong Trading Day