Analyst Actions: AuRico Gold Downgraded at BMO; Shares Drop 4%

By Staff,

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AuRico Gold Inc. ( AUQ ) was downgraded by analysts at BMO Capital Markets to Market Perform from Outperform. The firm currently has $9.50 target price on the stock, up from the previous target price of $9.

The analysts note that AUQ currently trades at a premium to the BMO Research mid-tier gold stocks, and said that the company's recent sale of Ocampo, for which the application of the proceeds are allocated reduce debt and buy back shares, de-risks the company profile while increasing the importance of a successful ramp-up of Young-Davidson.

AUQ is down 4.4% to $8.03, trading in a 52-week range of $5.25 - $10.35. Shares have fallen 11% in the last 12 months.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: AUQ

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