The Globe and Mail reports in its Friday, May 26, edition that Scotia Capital analyst Ovais Habib, after coming off restriction following Argonaut Gold's $17.5-million equity financing, lowered his share target by 30 cents to 90 cents. The Globe's David Leeder writes in the Eye On Equities column that Mr. Habib continues to rate Argonaut Gold "sector outperform." Analysts on average target the shares at 96 cents. Mr. Habib says in a note: "We view the announcement as mixed for Argonaut shares as this financing provides additional funds that can be used for development of the Magino project. However, after updating our estimates for this financing, our asset NAV value has declined due to the dilutive effect of the shares issued below our NAV estimate. As previously noted, Argonaut previously indicated that the company is fully financed to complete the construction of its Magino project where first gold pour is planned by the end of May, 2023." The Globe reported on July 7 that RBC Capital rated Argonaut "outperform" when it could be had for 50 cents. The Globe reported on Nov. 19 that Desjardins Securities analyst John Sclodnick had reaffirmed his "buy" call on Argonaut, which could then be had for 35.5 cents.