2319 GMT - Morgans raises target prices on Australian gold producers following bullion's January rally. The broker says it remains bullish on gold's outlook despite a recent correction. Key structural drivers, including persistent inflation risk, elevated geopolitical uncertainty and efforts by central banks to diversify reserves, remain firmly intact, Morgans says. It raises its target on Newmont to A$190.00 from A$162.00 and adjusts its rating to buy from accumulate. Its target on Northern Star rises to A$33.00 from A$26.00 and the stock was upgraded to buy from hold. Newmont is up 1.4% at A$167.04, and Northern Star is up 5.7% at A$28.41. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
February 03, 2026 18:19 ET (23:19 GMT)
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