National Bank Downgrades Newmont (NEM) to 'Sector Perform' Due to Rising Costs and Operational Disruptions
National Bank has downgraded Newmont Corporation (NEM) to 'Sector Perform' from 'Outperform,' citing rising costs linked to higher diesel prices, new tax frameworks in Ghana, and operational disruptions at several mines. The downgrade comes amid concerns over Newmont's Q1 EBITDA, though the stock still has a price target of $144 with over 80% of analysts maintaining bullish ratings.
Tickers: $NEM
Topics: analyst outlook cost increase diesel prices gold mining stock downgrade