Saying Nokia (NYSE:NOK) will be strengthened by its dual SIM phones, RBC Capital Markets said today it maintains an "Outperform" rating on the company, with a price target of $9 in place.
According to RBC Capital Markets analyst Mark Sue, units shipped in the current quarter will increase from his prior estimate of 89 million to 100 million, citing the dual SIM phones, which are popular in China and other markets, as the catalyst.
This should help the company during its transition to the Windows Phone 7 operating system, which may be on the first "N9" unit from Nokia when released in October.
In comparison to Symbian, developers are high on the simplicity connected to Mango.
Nokia was trading at $5.88, down $0.01, or 0.25 percent, as of 11:35 AM EDT.
Showing posts with label RBC Capital. Show all posts
Showing posts with label RBC Capital. Show all posts
Friday, August 26, 2011
Thursday, April 28, 2011
Acme (APKT) (UA) (BWLD) (PNR) (WRB) Get Ratings Initiations
Acme Packet (NASDAQ:APKT), Under Armour (NYSE:UA), Buffalo Wild Wings (NASDAQ:BWLD), Pentair (NYSE:PNR) and W.R. Berkley (NYSE:WRB) had analysts initiate coverage on them.
Acme Packet (APKT) was started off with a "Buy" rating by Deutsche Bank (NYSE:DB), which has a price target of $82 on the company.
Under Armour (UA) was started off with an "Equal Weight" rating by Barclays Capital, with a price target of $70.
Buffalo Wild Wings (BWLD) was initiated with a "Buy" rating by Deutsche Bank, with a price target of $74.
Pentair (PNR) was initiated at a "Buy" rating by Longbow, with a price target of $45.
W.R. Berkley (NYSE:WRB) was started off with an "Outperform" rating by RBC Capital Markets, which placed a price target of $35 on the company.
Acme Packet (APKT) was started off with a "Buy" rating by Deutsche Bank (NYSE:DB), which has a price target of $82 on the company.
Under Armour (UA) was started off with an "Equal Weight" rating by Barclays Capital, with a price target of $70.
Buffalo Wild Wings (BWLD) was initiated with a "Buy" rating by Deutsche Bank, with a price target of $74.
Pentair (PNR) was initiated at a "Buy" rating by Longbow, with a price target of $45.
W.R. Berkley (NYSE:WRB) was started off with an "Outperform" rating by RBC Capital Markets, which placed a price target of $35 on the company.
Wednesday, April 27, 2011
Helix (HLX) (MAS) (SFSF) (SB) Get Ratings Downgrades
Helix Energy Solutions Group Inc. (NYSE: HLX), Masco Co. (NYSE: MAS), SuccessFactors, Inc. (NASDAQ: SFSF) and Safe Bulkers, Inc. (NYSE: SB) downgraded by analysts.
Morgan Stanley (NYSE:MS) downgraded Helix Energy Solutions Group Inc. (HLX) from an “Overweight” rating to an “Equal Weight” rating. They placed a price target of $18 on the stock. They cited the catalyst as being valuation.
RBC Capital downgraded Masco Co. (MAS) from a “Sector Perform” rating to an “Underperform” rating. They set a price target of $13.00 on the firm, down from $14.
Gleacher & Co. (NASDAQ:GLCH) downgraded SuccessFactors, Inc. (SFSF) from a “Buy” rating to a “Neutral” rating.
Jefferies (NYSE:JEF) downgraded Safe Bulkers, Inc. (SB) from a “Buy” rating to a “Hold” rating. They placed a price target $8 on the company, down from $12.00.
Morgan Stanley (NYSE:MS) downgraded Helix Energy Solutions Group Inc. (HLX) from an “Overweight” rating to an “Equal Weight” rating. They placed a price target of $18 on the stock. They cited the catalyst as being valuation.
RBC Capital downgraded Masco Co. (MAS) from a “Sector Perform” rating to an “Underperform” rating. They set a price target of $13.00 on the firm, down from $14.
Gleacher & Co. (NASDAQ:GLCH) downgraded SuccessFactors, Inc. (SFSF) from a “Buy” rating to a “Neutral” rating.
Jefferies (NYSE:JEF) downgraded Safe Bulkers, Inc. (SB) from a “Buy” rating to a “Hold” rating. They placed a price target $8 on the company, down from $12.00.
Emerson (EMR) (BKCC) (CRME) (SIMG) Get Ratings Upgrades
Shares of BlackRock Kelso (NASDAQ:BKCC), Cardiome Pharma (NASDAQ:CRME), Emerson (NYSE:EMR) and Silicon Image (NASDAQ:SIMG) all upgraded today by several brokerages.
BlackRock Kelso (BKCC) was upgraded by UBS (NYSE:UBS) from "Neutral" to "Buy."
Cardiome Pharma (CRME) was upgraded by RBC Capital Markets from "Sector Perform" to "Outperform."
Emerson (EMR) was upgraded by Oppenheimer from "Perform" to "Outperform."
Silicon Image (SIMG) was upgraded by Needham from "Hold" to "Buy." Silicon Image is soaring today, jumping to $8.48, gaining $0.92, or 12.17 percent, as of 2:56 PM EDT. Volume was over 3 times the 3-month daily average.
BlackRock Kelso (BKCC) was upgraded by UBS (NYSE:UBS) from "Neutral" to "Buy."
Cardiome Pharma (CRME) was upgraded by RBC Capital Markets from "Sector Perform" to "Outperform."
Emerson (EMR) was upgraded by Oppenheimer from "Perform" to "Outperform."
Silicon Image (SIMG) was upgraded by Needham from "Hold" to "Buy." Silicon Image is soaring today, jumping to $8.48, gaining $0.92, or 12.17 percent, as of 2:56 PM EDT. Volume was over 3 times the 3-month daily average.
Encore (ENP) (FSS) (MAS) (YOKU) (BRCM) Get Ratings Downgrades
Encore Energy (ENP), Federal Signal (FSS), Masco (MAS), Youku.com (YOKU) and Broadcom (BRCM) all downgraded by analysts on April 27.
Encore Energy (ENP) was cut from from "Outperform" to "Neutral" by Robert W. Baird. They placed a price target of $25 a share on Encore.
Federal Signal (FSS) was downgraded from "Outperform" to "Market Perform" by BMO Capital.
Masco (MAS) was downgraded from "Sector Perform" to "Underperform" by RBC Capital.
Youku.com (YOKU) was downgraded by Goldman Sachs (NYSE:GS) from "Buy" to "Neutral."
Broadcom (BRCM) was removed from Goldman's list of "Conviction Buys."
Encore Energy (ENP) was cut from from "Outperform" to "Neutral" by Robert W. Baird. They placed a price target of $25 a share on Encore.
Federal Signal (FSS) was downgraded from "Outperform" to "Market Perform" by BMO Capital.
Masco (MAS) was downgraded from "Sector Perform" to "Underperform" by RBC Capital.
Youku.com (YOKU) was downgraded by Goldman Sachs (NYSE:GS) from "Buy" to "Neutral."
Broadcom (BRCM) was removed from Goldman's list of "Conviction Buys."
Tuesday, April 26, 2011
Microsoft (MSFT) (BEAV) (OTEX) (SFSF) (VECO) PTs Boosted
The shares of Microsoft Corp (NASDAQ: MSFT), BE Aerospace (NASDAQ: BEAV), Open Text (NASDAQ: OTEX), SuccessFactors, Inc. (NASDAQ: SFSF) and Veeco Instruments Inc. (NASDAQ: VECO) were all boosted April 26 by several analysts.
RBC Capital raised their price target on BE Aerospace (BEAV) from $46.00 to $48.00. They have a “Top Pick” rating on the company.
Morgan Stanley (NYSE:MS) boosted its price target on Microsoft Corp (MSFT) to $32.00. They have an “Overweight” rating on the software giant.
Wedbush raised their price target on Open Text (OTEX) from $55.00 to $65.00. They have a “Neutral” rating on the OTEX.
RBC Capital increased its price target on SuccessFactors, Inc. (SFSF) from $35.00 to $40.00. They have an “Outperform” rating on them.
Kaufman Brothers raised its price target on Veeco Instruments Inc. (VECO) from $55.00 to $60.00. They have a “Buy” rating on the firm.
RBC Capital raised their price target on BE Aerospace (BEAV) from $46.00 to $48.00. They have a “Top Pick” rating on the company.
Morgan Stanley (NYSE:MS) boosted its price target on Microsoft Corp (MSFT) to $32.00. They have an “Overweight” rating on the software giant.
Wedbush raised their price target on Open Text (OTEX) from $55.00 to $65.00. They have a “Neutral” rating on the OTEX.
RBC Capital increased its price target on SuccessFactors, Inc. (SFSF) from $35.00 to $40.00. They have an “Outperform” rating on them.
Kaufman Brothers raised its price target on Veeco Instruments Inc. (VECO) from $55.00 to $60.00. They have a “Buy” rating on the firm.
SonoSite (SONO) (ABFS) (EFII) (NFLX) (IEX) PTs Adjusted by Analysts
Analysts cut and boosted their price targets on shares of Arkansas Best Corp (NASDAQ: ABFS), Electronics For Imaging, Inc. (NASDAQ: EFII), IDEX Corp (NYSE: IEX), Netflix, Inc. (NASDAQ: NFLX) and SonoSite Inc (NASDAQ: SONO) on April 26, as the earnings season is in full swing.
RBC Capital cut their price target on Arkansas Best Corp (ABFS) from $22.00 to $20.00. They have an “Underperform” rating on the company.
Citigroup (NYSE:C) raised its price target on Electronics For Imaging, Inc. (EFII) from $15.00 to $20.00.
Hudson Securities boosted their price target on IDEX Corp (IEX) from $47.00 to $54.00. They have a “Buy” rating on the firm.
Canaccord Genuity raised their price target on Netflix, Inc. (NFLX) from $250.00 to $300.00. They have a “Buy” rating on the NFLX.
JPMorgan Chase & Co. (NYSE:JPM) cut their price target on SonoSite Inc (SONO) from $42.00 to $40.00. They have an “Overweight” rating on the company.
RBC Capital cut their price target on Arkansas Best Corp (ABFS) from $22.00 to $20.00. They have an “Underperform” rating on the company.
Citigroup (NYSE:C) raised its price target on Electronics For Imaging, Inc. (EFII) from $15.00 to $20.00.
Hudson Securities boosted their price target on IDEX Corp (IEX) from $47.00 to $54.00. They have a “Buy” rating on the firm.
Canaccord Genuity raised their price target on Netflix, Inc. (NFLX) from $250.00 to $300.00. They have a “Buy” rating on the NFLX.
JPMorgan Chase & Co. (NYSE:JPM) cut their price target on SonoSite Inc (SONO) from $42.00 to $40.00. They have an “Overweight” rating on the company.
Monday, April 25, 2011
Newfield (NFX) (PCX) (WLT) (BUCY) Price Target Changes for April 25th
Here are price target changes on April 25th for Newfield (NFX)(PCX)(WLT) and (BUCY).
RBC Capital lowered their price target on Newfield Exploration Co. (NYSE:NFX) from $99.00 to $96.00. They have an “Outperform” rating on the stock.
Brean Murray boosted their price target on shares of Patriot Coal Corp (NYSE:PCX) from $35.00 to $37.00. They have a “Buy” rating on the stock.
Brean Murray slashed their price target on Walter Energy (NYSE:WLT) from $160.00 to $156.00. They have a “Buy” rating on the stock.
FBR Capital lowered their price target on Walter Energy (NYSE:WLT) from $140.00 to $135.00. They now an “Outperform” rating on the stock.
Jefferies maintained a “Hold” rating on shares of Bucyrus International, Inc. (NASDAQ:BUCY). They have a $92.00 price target on the stock.
RBC Capital lowered their price target on Newfield Exploration Co. (NYSE:NFX) from $99.00 to $96.00. They have an “Outperform” rating on the stock.
Brean Murray boosted their price target on shares of Patriot Coal Corp (NYSE:PCX) from $35.00 to $37.00. They have a “Buy” rating on the stock.
Brean Murray slashed their price target on Walter Energy (NYSE:WLT) from $160.00 to $156.00. They have a “Buy” rating on the stock.
FBR Capital lowered their price target on Walter Energy (NYSE:WLT) from $140.00 to $135.00. They now an “Outperform” rating on the stock.
Jefferies maintained a “Hold” rating on shares of Bucyrus International, Inc. (NASDAQ:BUCY). They have a $92.00 price target on the stock.
Newmont's (NEM) Price Target Lowered and Raised
Analysts took their ratings on Newmont Mining (NYSE:NEM) in different directions today, as CIBC cut its price target on the firm to $73 from $80.
On the other hand, RBC Capital analysts boosted their price target on Newmont Mining Co. (NEM) from $62.00 to $67.00. They now have an “Underperform” rating on the stock.
Newmont Mining, which recently recorded a record cash flow of just under $1 billion, was trading at $58.26, falling $0.97, or 1.64 percent, as of 1:45 PM EDT.
On the other hand, RBC Capital analysts boosted their price target on Newmont Mining Co. (NEM) from $62.00 to $67.00. They now have an “Underperform” rating on the stock.
Newmont Mining, which recently recorded a record cash flow of just under $1 billion, was trading at $58.26, falling $0.97, or 1.64 percent, as of 1:45 PM EDT.
Monday, March 28, 2011
Harmony Gold (HMY) Ripe to be Taken Over?
RBC Capital Markets says they see Harmony Gold (NYSE:HMY) as a prime takeover target, believing they are vastly undervalued at this time, as well as being poised to deliver on what they have promised in a relatively short time.
If they are accurate, it would be one of the few gold miners that may be had a decent price, as the rising price of gold has caused valuations in the sector to soar, making acquisitions extremely expensive, and in many cases: prohibitive.
Analysts at RBC say that one of the key reasons Harmony is undervalued can be traced to its 50 percent stake in Papua New Guinea's Morobe project, which includes the new-operating Hidden Valley mine, and the prolific Wafi Golpu property. The analysts said, "even on the most conservative basis, Wafi could add in the order of USD 1.5bn to USD 2bn to the value of Harmony. This is some 40% of the current market capitalization of the company."
Harmony, in RBC's view, "has been a disappointing story since the rand started strengthening in 2002, due to a strategy that banked on a weakening currency to keep marginal assets alive."
Now after a period of time they say "the new strategy is now set to deliver a new, less marginal, lower cost, more diversified Harmony. But that is not the end of the story. The ‘lucky' part of the equation is really reflected in the outstanding exploration results seen at the Wafi Golpu deposit in Papua New Guinea. We believe this exploration play is fast becoming a central play in the valuation of Harmony."
Harmony closed Friday at $14.10, dropping $0.29, or 2.02 percent.
If they are accurate, it would be one of the few gold miners that may be had a decent price, as the rising price of gold has caused valuations in the sector to soar, making acquisitions extremely expensive, and in many cases: prohibitive.
Analysts at RBC say that one of the key reasons Harmony is undervalued can be traced to its 50 percent stake in Papua New Guinea's Morobe project, which includes the new-operating Hidden Valley mine, and the prolific Wafi Golpu property. The analysts said, "even on the most conservative basis, Wafi could add in the order of USD 1.5bn to USD 2bn to the value of Harmony. This is some 40% of the current market capitalization of the company."
Harmony, in RBC's view, "has been a disappointing story since the rand started strengthening in 2002, due to a strategy that banked on a weakening currency to keep marginal assets alive."
Now after a period of time they say "the new strategy is now set to deliver a new, less marginal, lower cost, more diversified Harmony. But that is not the end of the story. The ‘lucky' part of the equation is really reflected in the outstanding exploration results seen at the Wafi Golpu deposit in Papua New Guinea. We believe this exploration play is fast becoming a central play in the valuation of Harmony."
Harmony closed Friday at $14.10, dropping $0.29, or 2.02 percent.
Tuesday, March 1, 2011
Boston Scientific (NYSE:BSX) to Outperform in 2011
Boston Scientific (NYSE:BSX) is getting a nice boost as shares of the company are up over 6 percent after an upgrade from RBC’s analyst Glenn Novarro.
Novarro said he believes the company will outperform the overall sector in 2011, citing momentum from its new Promus Element stent and expanding margins.
Novarro wrote in a note to clients, “With shares down 5% year-to-date (significantly underperforming its med-tech peers) and sentiment low, the risk/reward is favorable. Management has set the bar low for 2011, and we see strong new product momentum and margin expansion in 2012-2015, led by the U.S. launch of Promus Element.”
What could scuttle the upgrade, according to Novarro, is if the upcoming trial for Promus Element were to fail, although he said it should come out positive.
Boston Scientific was trading at $7.60, gaining $0.44, or 6.15 percent, as of 1:37 PM EST.
Novarro said he believes the company will outperform the overall sector in 2011, citing momentum from its new Promus Element stent and expanding margins.
Novarro wrote in a note to clients, “With shares down 5% year-to-date (significantly underperforming its med-tech peers) and sentiment low, the risk/reward is favorable. Management has set the bar low for 2011, and we see strong new product momentum and margin expansion in 2012-2015, led by the U.S. launch of Promus Element.”
What could scuttle the upgrade, according to Novarro, is if the upcoming trial for Promus Element were to fail, although he said it should come out positive.
Boston Scientific was trading at $7.60, gaining $0.44, or 6.15 percent, as of 1:37 PM EST.
Wednesday, February 9, 2011
Wells Fargo (NYSE:WFC), AIG (NYSE:AIG) Drag Financials Down
The overall financial sector in the U.S. is under downward pressure, dragged down by Wells Fargo (NYSE:WFC) and AIG (NYSE:AIG).
Wells Fargo fell on the abrupt news Chief Financial Officer Howard Atkins was retiring for personal reasons. Atkins had been indispensable over the last several years to the company, and his leaving is a real blow to Wells.
AIG dropped after the company announced it was going to book $4.1 billion charge in the fourth quarter while increasing reserves at its property and casualty insurance units.
Also falling in the financial sector was KeyCorp (NYSE:KEY), after being downgraded from "Outperform" to "Sector Perform" by RBC Capital.
KeyCorp was trading at $9.49, down $0.22, or 2.27 percent, as of 2:04 PM EST. AIG was at $41.22, losing $1.15, or 2.71 percent. Wells Fargo was trading at $33.00, falling $1.10, or 3.23 percent.
Wells Fargo fell on the abrupt news Chief Financial Officer Howard Atkins was retiring for personal reasons. Atkins had been indispensable over the last several years to the company, and his leaving is a real blow to Wells.
AIG dropped after the company announced it was going to book $4.1 billion charge in the fourth quarter while increasing reserves at its property and casualty insurance units.
Also falling in the financial sector was KeyCorp (NYSE:KEY), after being downgraded from "Outperform" to "Sector Perform" by RBC Capital.
KeyCorp was trading at $9.49, down $0.22, or 2.27 percent, as of 2:04 PM EST. AIG was at $41.22, losing $1.15, or 2.71 percent. Wells Fargo was trading at $33.00, falling $1.10, or 3.23 percent.
Verizon (NYSE:VZ) to Sell 1 Million Apple (NASDAQ:AAPL) iPhones First Week
The release of the Apple (NASDAQ:AAPL) iPhone by Verizon should result in about 1 million units being sold in the first week, according to RBC Capital analyst Mike Abramsky.
For the quarter, Abramsky sees Verizon selling from 3 million to 4 million units of iPhone 4.
He added that Verizon won't see the approximate 5 million in sales enjoyed by AT&T (NYSE:T) when they first released the iPhone, citing the number of users already under contract by Verizon with Google Inc. (NASDAQ:GOOG) Android devices, and lack of aggressiveness with early upgrades.
For the calendar year 2011, Abramsky sees sales of the iPhone reaching about 2011 for Verizon, although noting that could be a conservative estimate.
RBC maintains a "Buy" rating on Apple (NASDAQ), which was trading at $357.68, up $2.48, or 0.70 percent, as of 11:41 AM EST. Verizon was trading at $36.53, up $0.19, or 0.54 percent.
For the quarter, Abramsky sees Verizon selling from 3 million to 4 million units of iPhone 4.
He added that Verizon won't see the approximate 5 million in sales enjoyed by AT&T (NYSE:T) when they first released the iPhone, citing the number of users already under contract by Verizon with Google Inc. (NASDAQ:GOOG) Android devices, and lack of aggressiveness with early upgrades.
For the calendar year 2011, Abramsky sees sales of the iPhone reaching about 2011 for Verizon, although noting that could be a conservative estimate.
RBC maintains a "Buy" rating on Apple (NASDAQ), which was trading at $357.68, up $2.48, or 0.70 percent, as of 11:41 AM EST. Verizon was trading at $36.53, up $0.19, or 0.54 percent.
Tuesday, January 25, 2011
RIM (NASDAQ:RIMM) Tablet Sales Could Reach 6 Million Units First Year
According to RBC Capital analyst Mike Abramsky, Research in Motion (NASDAQ:RIMM) could reach tablet sales of 6 million units in their first year, far above the 1 million units a number of analysts have estimated.
He bases his assertion on a proprietary survey of 1,100 customers, which revealed about 6 percent of respondents said they were apt to acquire a Playbook from RIM.
Noted was the ability of the Playbook to interact with the Blackberry, something consumers like about it.
Assuming an average price of $450, RBC said it could add $1.8 billion in revenue to the company.
RBC has a "Top Pick" rating on RIM, which was trading at $61.11, down $1.58, or 2.52 percent, as of 2:08 PM EST. RBC has a price target on RIM of $90.
He bases his assertion on a proprietary survey of 1,100 customers, which revealed about 6 percent of respondents said they were apt to acquire a Playbook from RIM.
Noted was the ability of the Playbook to interact with the Blackberry, something consumers like about it.
Assuming an average price of $450, RBC said it could add $1.8 billion in revenue to the company.
RBC has a "Top Pick" rating on RIM, which was trading at $61.11, down $1.58, or 2.52 percent, as of 2:08 PM EST. RBC has a price target on RIM of $90.
Monday, January 24, 2011
Meadowbrook (NYSE:MIG), The Chubb (NYSE:CB), Harleysville Group (Nasdaq:HGIC) Downgraded by RBC Capital
RBC Capital took the knife to some insurance stocks, downgrading Meadowbrook Insurance (NYSE:MIG), The Chubb (NYSE:CB) and Harleysville Group (Nasdaq:HGIC).
All the above insurance companies were downgraded from "Outperform" to "Sector Perform."
Harleysville Group (HGIC) closed Friday at $36.17, down $0.26, or 0.71 percent. RBC has a price target of $37 on them.
Meadowbrook Insurance (MIG) closed at $9.60, down $0.16, or 1.64 percent. RBC has a price target of $10 on Meadowbrook.
The Chubb (CB) closed at $57.42, down $0.63, or 1.09 percent. They had their price target lowered from $63 to $61.
All the above insurance companies were downgraded from "Outperform" to "Sector Perform."
Harleysville Group (HGIC) closed Friday at $36.17, down $0.26, or 0.71 percent. RBC has a price target of $37 on them.
Meadowbrook Insurance (MIG) closed at $9.60, down $0.16, or 1.64 percent. RBC has a price target of $10 on Meadowbrook.
The Chubb (CB) closed at $57.42, down $0.63, or 1.09 percent. They had their price target lowered from $63 to $61.
Monday, November 8, 2010
Coeur D'Alene (NYSE:CDE), Other Miners, Considered Potential Takeover Targets
With the failure of giant mining companies to secure mergers and acquisitions recently, it seems miners like Coeur d'Alene Mines Corporation (NYSE:CDE) are considered as major acquisition targets in an industry that wants to grow through acquisition, as organic growth is getting more difficult because of limited resources.
RBC has taken aim at Coeur d'Alene Mines, upgrading them from "Underperform" to "Sector Perform," and we should see a number of these types of upgrades happening with the smaller miners who will help with expansion, but not at the cost of tightening and more expensive credit.
Coeur d'Alene Mines, based in Idaho, mines primarily for gold and silver, but also has secondary metal production such as zinc and lead.
The miner closed Friday at $23.48, increasing by $1.26, or 5.67 percent. RBC raised their price target on them from $22 to $27.
RBC has taken aim at Coeur d'Alene Mines, upgrading them from "Underperform" to "Sector Perform," and we should see a number of these types of upgrades happening with the smaller miners who will help with expansion, but not at the cost of tightening and more expensive credit.
Coeur d'Alene Mines, based in Idaho, mines primarily for gold and silver, but also has secondary metal production such as zinc and lead.
The miner closed Friday at $23.48, increasing by $1.26, or 5.67 percent. RBC raised their price target on them from $22 to $27.
Thursday, November 4, 2010
Is Newmont Mining (NYSE:NEM) Considered Weaker Than it Really is?
It seems Newmont Mining (NYSE:NEM) executives did more harm than good for the company in their quarterly report and comments afterwards. If they had kept to the data and how it would play out they would have been okay.
But as many have pointed out, especially with their CEO commenting on CNBC that gold was "an asset bubble," didn't help the company at all.
A couple of things were revealed on the conference call, and they were production estimates were going to be cut back slightly and costs were going to rise some.
Neither were a real game change, although there is a lot of nervousness over the stock, even if it doesn't seem warranted.
The fact that Newmont is among the cost leaders in the industry needs to be taken into account, as it offers them more flexibility than most of their competitors if they need to do something or the price of gold takes a major dive at sometime.
Consequently, RBC Capital decided Newmont will struggle, and downgraded them from "Sector Perform" to "Underperform."
Newmont closed Wednesday at $59.11, losing $0.78, or 1.30 percent. RBC has a price target of $63 on them.
But as many have pointed out, especially with their CEO commenting on CNBC that gold was "an asset bubble," didn't help the company at all.
A couple of things were revealed on the conference call, and they were production estimates were going to be cut back slightly and costs were going to rise some.
Neither were a real game change, although there is a lot of nervousness over the stock, even if it doesn't seem warranted.
The fact that Newmont is among the cost leaders in the industry needs to be taken into account, as it offers them more flexibility than most of their competitors if they need to do something or the price of gold takes a major dive at sometime.
Consequently, RBC Capital decided Newmont will struggle, and downgraded them from "Sector Perform" to "Underperform."
Newmont closed Wednesday at $59.11, losing $0.78, or 1.30 percent. RBC has a price target of $63 on them.
Subscribe to:
Posts (Atom)