Pinning down a possible Newcrest leaker

While Newcrest's dour update on Friday would not have completely shocked the market the likelihood broker downgrades in preceding days were due purely to savvy analysts stretches credulity.

Newcrest Mining’s response to the ASX query over a series of suspiciously-timed broker downgrades just ahead of last week’s updates on the  gold miner’s review of its business that triggered a dramatic sell-off in its shares leaves hanging a critical question.

Was it purely coincidental that last Tuesday UBS put out a 'sell' recommendation, followed by similar advisories from Citi and Credit Suisse on Wednesday, just ahead of Newcrest’s announcement of the review outcomes on Friday?

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