Economic data showing higher-than-expected CPI readings have supported gold prices, indirectly benefiting Newmont Mining stock price. With mining costs stabilizing and expected output growth of 3%, the company’s fundamentals remain attractive to long-term shareholders. Divya Rajagopal reports on Canada mining sector, where she covers breaking news on critical minerals deals, takeovers and mergers in the mining sector and how miners deal with climate change and ESG imperatives. Divya previously worked as a financial journalist with Economic Times and CNBC TV18 based out of India. She holds a Masters in Global Affairs from the University of Toronto and a Masters in Technology and Social Change from Lund University, Sweden. Analysts remain optimistic about NEM’s prospects. The stock has a consensus “Moderate Buy” rating overall. Of the 21 analysts covering the stock, opinions include 11 “Strong Buys,” two “Moderate Buys,” and eight “Holds.” As of writing, the stock is trading above its mean price target of $79.20. Newmont Mining stock price advanced after industry data showed a decline in global mine supply, which could tighten gold availability and support prices. This backdrop favors gold miners with strong reserve bases like Newmont.