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Morgan Stanley Prefers Newmont Mining Over Barrick Gold

Mean reversion can be a powerful trading tool, particularly with pair trades. One Wall Street analyst said it’s still too early to expect a mean reversion bump in underperforming Barrick Gold Corp (USA) ABX.

Morgan Stanley analyst Piyush Sood downgraded Barrick from Equal-Weight to Underweight and lowered the price target from $14 to $12. Sood upgraded Newmont Mining Corp NEM and raised the price target from $37 to $40. Source