Market Chatter: Management Turmoil Intensifies at Jaguar Mining; Shares Down 1.6%

By MT Newswires,  July 03, 2012, 03:51:25 PM EDT

Turmoil at Jaguar Mining Inc. (JAG.TO, JAG) has intensified, with three directors offering to resign on Friday and today its chief operating officer left for health reasons, the Financial Post reports online.

Jaguar was recently sued by its previous CEO for wrongful dismissal and these latest changes point to more trouble for Jaguar, according to TD Securities analyst Steven Green.

“The loss of a key member of the management team, chairman change and potential changes to the board come at a pivotal time for Jaguar as they attempt a critical operational turnaround, and the added disruption from the changeovers will not help the process in our view,” he was quoted by the Post as saying in a note.

Green is concerned that it will be tough to turn Jaguar around no matter who is in charge. The company is generating negative free cash flow, and has serious balance sheet concerns with just US$50-million of remaining cash and more than US$300-million in debt.

Today, Jaguar is down 2 cents to $1.17.




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.


This article appears in: Investing, Commodities

Referenced Stocks:



Latest News Video

How To Grow Your Small Business
How To Grow Your Small Business     
Private Wealth Revives, Managers Face Higher Costs
Private Wealth Revives, Managers Fa...
Private Island on the Thames: $11.7 Million
Private Island on the Thames: $11.7...
Take Control Of Your Wealth
Take Control Of Your Wealth         


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.




Most Active by Volume:

Company Last Sale Change Net / %
S $ 7.04 0.28  3.83%
PFE $ 29.23 0.17  0.58%
BAC $ 13.25 0.02  0.15%
MU $ 13.86 0.11  0.80%
SIRI $ 3.40 unch
ELN $ 14.20 0.42  3.05%
GE $ 24.175 0.16  0.64%
QQQ $ 73.1201 0.46  0.63%