MARKETS SPECTATOR: Newcrest knockdown

Citigroup has downgraded the outlook for Australia's biggest gold miner, Newcrest, as the company pivots away from production growth.

Newcrest Mining shares today hit a 52-week low of $13.53. The stock of Australia’s biggest gold miner has slumped 39 per cent in the last 12 months. Citigroup analyst Daniel Seeney is pouring more salt in the wound by rating the stock a 'sell' and predicting its price will fall to $13.


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