The Globe and Mail reports in its Tuesday, Feb. 12, edition that TD Securities analyst Daniel Earle says San Gold (44.5 cents) should trade at a discount to its peers given expectations for "low-margin production and negative free cash flow generation over the next 12 months." The Globe's Shirley Won writes in the Eye On Equities column that Mr. Earle trimmed his target to 60 cents a share from $1.10. The TD stockpicker continues to rate the shares "hold." He says external funding will likely be required to complete a planned two-year development program at the Rice Lake mining complex. CIBC World Markets analyst Barry Cooper knocked his rating on San Gold back to "sector performer" from "sector outperformer" in the Eye column on Nov. 18, 2011, when it could be had for $1.96. National Bank Financial analyst Paolo Lostritto reiterated his "outperform" rating and target price of $3.80 on San Gold in the Eye column on Dec. 30, 2011, when it could be had for $1.87. Dundee Securities head Ron Stewart said buy San Gold in the Eye column on Oct. 4, 2012. The shares could then be had for $1. Mr. Stewart said investors should use any market weakness to take positions in gold stocks.

FP says Doulis lowers San Gold to "underperform"

2013-02-12 05:37 PT - In the News