Newmont downgraded to Sector Perform from Outperform at National Bank

National Bank analyst Mike Parkin downgraded Newmont to Sector Perform from Outperform with a price target of C$68, down from C$69. The analyst cites valuation for the downgrade post the Q1 report. With the recent rally in the share price and current valuation the firm sees Newmont shifting to trade more in line with peers.