Newmont shares are trading lower after UBS downgraded the stock from Buy to Neutral and lowered its price target from $67 to $54.
Portfolio Pulse from Benzinga Newsdesk
Newmont shares declined following a downgrade by UBS from Buy to Neutral, with a reduced price target from $67 to $54.
October 30, 2024 | 3:04 pm
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NEGATIVE IMPACT
Newmont's stock is experiencing a decline due to UBS downgrading its rating from Buy to Neutral and reducing the price target from $67 to $54.
The downgrade by UBS, a significant financial institution, from Buy to Neutral suggests a less optimistic outlook on Newmont's performance. The reduction in the price target from $67 to $54 indicates a reassessment of the company's valuation, likely leading to short-term selling pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100