Globe says Cooper cuts Lake Shore Gold price target
Ticker Symbol: C:LSG

Globe says Cooper cuts Lake Shore Gold price target

Lake Shore Gold Corp (C:LSG)
Shares Issued 384,444,156
Last Close 6/6/2011 $3.36
Tuesday June 07 2011 - In the News

The Globe and Mail reports in its Tuesday, June 7, edition that production from Lake Shore Gold ($3.36) "is likely to sound better than the financial delivery," warns CIBC World Markets analyst Barry Cooper. The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Cooper says while Lake Shore Gold is a growing producer with exploration potential, its multiple ore sources may lead to the construction of multiple mills, jacking up capital expenses. Citing a weak first quarter, Mr. Cooper has downgraded his production estimates for the company, resulting in his price target retreating to $4.50 from $5.25. The stock was trading at $4.03 on Nov. 13, 2009, when Wellington West analyst Paolo Lostritto rated Lake Shore "strong buy" in the Eye column. Lake Shore stock was worth $3.83 when The Globe's Shirley Won recommended it on Dec. 11, 2009, as a good long-term investment. National Bank Financial analyst Tara Hassan maintained Lake Shore Gold at "outperform" with a price target of $4.25 in the Eye column on June 25, 2010. The stock was then going for $3.14. RBC Dominion Securities analyst Stephen Walker rated Lake Shore "top pick" in the Eye column on Dec. 9, 2010, when it could be had for $4.08.

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