The Globe and Mail reports in its Saturday, Oct. 15, edition that BMO Nesbitt Burns analyst Brian Quast believes Newmarket Gold ($3.60) and Kirkland Lake Gold ($7.64) will trade in tandem with each other and in line with peers given the coming merger of the companies. The Globe's David Leeder writes in the Eye On Equities column that in order to maintain the share ratio between the two, he lowered his target price for both. Mr. Quast's target for Newmarket fell to $4.50 from $6, versus a consensus of $5.67. He kept his "market perform" rating. Mr. Quast says in a note: "The Fosterville mine continues to deliver solid performance, and we expect high grade intercepts from the Eagle zone to be a driver of future growth for the company. However, we expect NMI shares to trade in line with the market as this transaction progresses." With a "market perform" rating, Mr. Quast lowered his target for Kirkland to $9.50 from $12.50. Analysts on average target the shares at $14.23. Raymond James analyst Chris Thompson downgraded Newmarket Gold to "market perform" from "outperform" in the Eye column on Oct. 1. Newmarket Gold shares were then worth $4.62.