As previously reported, Macquarie analyst Andrew Bowler downgraded Newmont (NEM) to Neutral from Outperform with an unchanged price target of $72 while naming Northern Star Resources (NESRF) the analyst’s preferred large-cap gold stock. Newmont was previously the analyst’s top pick as the firm expected a tumultuous guidance season for Northern Star and strong production performances from Newmont, which “came to fruition,” but Newmont has now seen a 25% share-price lift since late-June, while Northern has remained flat, the analyst tells investors.
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