Newmont Mining (NYSE:NEM) Gets PT Boost from Barclays

Barclays (NYSE:BCS) has given the large cap gold miners a boost on their price targets today, as they see gold prices rising in 2011 and margins and earnings increasing as a result.

Barclays said, "Our earnings model now reflects marked-to-market metals prices for 4Q 2010 and updated gold price assumptions for 2011-2014. Based on these assumptions, our new 12-month price target of $50 assumes a net firm value in one year of 7.3x our 2012 attributable EBITDA estimate of $3.1 billion."

Barclays maintains an "Underweight" on Newmont Mining, which was trading at $57.28, gaining $0.35, or 0.61 percent, as of 2:12 PM EST. Barclays raised their price target on Newmont from $42 to $50 a share.