Business
Leading brokers name 3 ASX shares to sell today 17 November 2020 // Motley Fool Australia
On Monday I looked at three ASX shares that brokers have given buy ratings to this week.
Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below.
Here’s why these brokers are bearish on these ASX shares:
Evolution Mining Ltd (ASX: EVN)
According to a note out of Macquarie, its analysts have downgraded this gold miner’s shares to an underperform rating and cut the price target on them to $5.30. The broker believes that the US 10-year bond yield has now bottomed and expects the yield curve to continue to lift. In light of this, it has cut its medium term gold price forecasts meaningfully. This has led to earnings downgrades for Evolution and other gold…
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