TD Newcrest Downgrades Newmont Mining Corp. (NEM) to Hold

TD Newcrest downgraded Newmont Mining Corp. (NYSE: NEM) from Buy to Hold with a price target of $73 (down from $78).

The said "after full review of our model and with increasing concerns about the company's longer-term growth profile, particularly with heightened political and social risks facing the Conga and Cerro Quilish projects, we have reduced our target NAV multiple to match what we use for Barrick Gold Corp (NYSE: ABX).

For an analyst ratings summary and ratings history on Newmont Mining Corp. click here. For more ratings news on Newmont Mining Corp. click here.

Shares of Newmont Mining Corp. closed at $61.52 yesterday.

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