Newmont downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Newmont to Neutral from Overweight with a price target of A$66, down from A$67. The firm’s positive call on gold is unchanged, while the prospect of a rate cut remains on the horizon despite its continual pushback, but it lowered its rating on Newmont shares traded in Australia on a valuation perspective.