Jefferies Downgrades Newmont Mining (NEM)
Jefferies announced on Tuesday that it has downgraded gold producer Newmont Mining Corp (NEM).
The firm has lowered its rating on NEM to an “Underperform.” Analysts have downgraded the company as they expect continued declines for gold miners. The price target for gold is currently $1,250 an ounce.
Newmont Mining shares were down 13 cents, or -0.43% during Tuesday morning trading. The stock is down -35% YTD.
The Bottom Line
Shares of Newmont Mining Corp (NEM) have a 4.69% yield, based on Tuesday morning’s price of $29.87.
Newmont Mining Corp (NEM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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