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Gold Miners Reaping A Record Cash Harvest

ByVictoria

Goldman Sachs is tipping a continued rise in Newmont’s share price with a target for its New York listed shares set at $47.20, up 17% on last sales at $40.23 while the company’s Australian listed shares are forecast to rise from A$64.80 to A$76.20.

Strong central bank demand is expected to continue lifting the gold price towards $3000 an ounce from its current $2670/oz, according to Goldman Sachs

“We expect our Australian gold coverage is set for a growing cash harvest over the next 12-months as price increases outweigh cost escalations, supporting further balance sheet strength, growing capital returns and prospective merger and acquisition activity,” Goldman Sachs said.

Source – Forbes

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Harvesting (in finance), also known as an exit or liquidity event, is the act of cashing out of an ownership position in a company.

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