National Bank analyst Mike Parkin downgraded Newmont to Sector Perform from Outperform with a price target of C$68, down from C$69. The analyst cites valuation for the downgrade post the Q1 report. With the recent rally in the share price and current valuation the firm sees Newmont shifting to trade more in line with peers.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NEM: