Globe says Argonaut Gold Poised to Boost Output
The Globe and Mail reports in its Thursday, Nov. 14, edition that CIBC World Markets analyst Jeff Killeen has advanced his rating on Argonaut Gold ($5.65) to “sector performer” from “sector underperformer. The Globe’s Darcy Keith, Eric Atkins and Stephanie Chan write in the Eye On Equities column that Mr. Killeen also positively adjusted his share price target to $6 from $5. The average Street target, according to Thomson Reuters, is $7.94. The Globe writers says Argonaut Gold is poised to boost output at its low-cost mines, hence Mr. Killeen’s upgrades. The analyst points to Argonaut Gold’s strong production guidance and sound assets. The company is headquartered in Nevada and mines in Mexico. The Globe’s Ian McGugan said Argonaut Gold’s prospects were bright in the Number Cruncher column on April 3, 2012. The shares could then be had for $8.68. Stonecap Securities analyst Christos Doulis hiked his rating on Argonaut Gold to “outperform” from “sector perform” in the Eye column on Feb. 21, 2013. Mr. Doulis said Argonaut Gold was trading at an attractive price. In the item, Mr. Doulis maintained a price target of $11.35. The shares were the going for $7.49.