CIBC World Markets has downgraded San Gold Corp. SGR-T to “sector performer” from “sector outperformer,” citing lower grades that reduced his valuation of the Rice Lake complex in Manitoba. The build up to higher production will take longer than expected, and “as a consequence, we think that the shares will lose some of their appeal to growth and value players,” said analyst Barry Cooper.

Downside: Mr. Cooper cut his price target by $1.70 to $3

HMMMMMmmmmm.

That's a pretty big cut to the target price but still 33% from here. I don't think the loss of appeal is to growth and value players unless they got in above $3 and don't see any upside. Still for growth and value a share of SGR at $2 or even $3 is better than many other options for one's hard earned money. They have just turned the corner on running a profitable mine,are well on the way to defining a larger resource, are getting costs under control and their product is getting dearer. So ,no, the problem isn't for those interested in growth and value it's for those who don't know what those things are. Analysts who know only the price of everything , but the value of nothing and whose price targets are generally meaningless and after the fact.