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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.06

-1.4%

Nov 17 4:00 PM EST

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To: Abner Hosmer who started this subject	2/11/2002 8:50:29 AM
From: t2	Read Replies (2) of 116762

NEM downgrade today actually seems to be positive for GOLD itself. Less supply. 08:36 ET Newmont Mining downgraded by Pru, slashes price target (NEM) 25.00: Prudential downgrades to SELL from Hold and lowers price target to $10 from $21 (well below current quote of $25), as firm estimates a 25% cumulative reserve decline in 2001-03, which will compress its valuation toward a P/E ratio near the estimated 7.7 year-end 2003 reserve life.

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