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Analyst Actions: Canaccord Raises Price Target on AuRico Gold

AuRico Gold Inc.'s (AUQ.TO) Young Davidson underground mine is ramping up production ahead of schedule, which should help the gold producer meet its targets for 2012, Canaccord Genuity analyst Rahul Paul says in a Globe & Mail report.

The stock has outperformed the S&P/TSX gold index by 32% since it announced the sale of its Ocampo site in October, Paul wrote in a research note. "We see further re-rating potential considering the company's strong balance sheet and attractive organic growth profile from low-cost, long-life assets in low-risk jurisdictions."

Paul raised his price target to $11 (U.S.) from $9.50 and rates the stock as a "buy."

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

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

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