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

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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 The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: AUQ

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