** Analysts at Morningstar raise fair value estimates for Australian gold miners, as bullion prices surge driven by safe-haven demand amid concerns over tariffs, geopolitical tensions and the U.S. fiscal deficit

** Morningstar increases its fair value estimate for Australia's Perseus Mining PRU.AX by 9% to A$2.55 per share; raises fair value for Evolution Mining EVN.AX by 6% to A$3.80

** Investment research firm ups fair estimate for ASX-listed shares of Newmont Corp NEM.AX by 5% to $58.00; keeps fair value unchanged for Northern Star Resources NST.AX at A$13

** "We assume gold averages US$3,460 per ounce from 2025 to 2027 based on the futures curve, up from US$3,170" - Morningstar

** YTD, NST shares up 9.7%, while PRU, EVN and NEM shares rise between 37% and 63%, as of last close

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))