S&P downgrades Newmont Mining (NEM) to negative from stable "following a sharp correction in...

|About: Newmont Mining Corporat... (NEM)|By:, SA News Editor

S&P downgrades Newmont Mining (NEM) to negative from stable "following a sharp correction in gold prices given the heightened potential for leverage to exceed the maximum 2.5x EBITDA threshold that we view as supportive of the current rating, particularly if the lower price is sustained and production costs and capital spending are not reduced. The price drop also highlights the inherent volatility in precious metals prices."