The Globe and Mail reports in its Tuesday, Sept. 1, edition that Echelon Capital Markets analyst Gabriel Gonzalez calls Argonaut Gold a "short-term junior leveraged gold play, long-term growing intermediate player." The Globe's David Leeder writes that Mr. Gonzalez began coverage on Argonaut Gold with a "buy" rating and $5 share target. Analysts on average target the shares at $4.43. Mr. Gonzalez currently sees the "right juncture for both short- and long-term investors." Mr. Gonzalez says in a note: "Argonaut has been a levered play to the gold price given its relatively high operating costs in the high-third/low-fourth AISC quartile, making it an attractive short-term investment during rising gold prices. Given the high price of gold however, it is also well-positioned to finance its development strategy under favourable terms as it evolves into a high-second/low-third AISC quartile intermediate producer, supporting increased margins and a revaluation as the gold bull market subsides. ... We see two main sources of return for investors: Argonaut's leverage to a rising gold price in the short term and multiple revaluation as the company executes on its growth strategy over the medium to longer term."