Story updated at 9:50 a.m. to reflect market activity.
Shares of Newmont were gaining 0.7% to $25.79 in morning trading.
The analyst firm also raised its EPS estimates for the mining company through 2015. Barclays analysts now expect Newmont to report earnings of 77 cents for full year 2014, up from previous estimates of 68 cents. For 2015 the analysts expect the company to report earnings of $1.20 a share, up from Baclays' previous estimate of 87 cents a share for the year.
The raised estimates are due to Newmont's higher production and lower export taxes, according to Barclays analysts.
Separately, TheStreet Ratings team rates NEWMONT MINING CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate NEWMONT MINING CORP (NEM) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: