2014-01-21 07:27 ET - In the News

Globe says buy... share prace drops .52 cents. Go figure!

The Globe and Mail reports in its Tuesday edition that Canaccord Genuity analyst Rahul Paul believes Argonaut Gold is poised to outperform peers over the next 12 months thanks to a number of potentially positive catalysts. The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Paul elevated his rating on the shares to "buy" from "hold." The analyst sees the ramping up of hard-rock mining operations at the La Colorada mine as one positive. He figures another positive catalyst is the potential receipt of permits at the San Antonio project. Finally, the Canaccord stockpicker views the possibility for growing resources at the San Agustin and Magino projects as another positive to the stock. Mr. Paul also notes that the company's growth profile is fully funded for the next several years. He says the company's management has a good record. Mr. Paul hiked his price target on the shares to $8 from $6.75. The average analyst target is $6.80. Stonecap Securities analyst Christos Doulis upgraded his rating on Argonaut Gold ($7.49) to "outperform" from "sector perform" in the Eye column on Feb. 21, 2013. Mr. Doulis maintained a price target of $11.35. Argonaut Gold shares could then be had for $7.49.