The Globe and Mail reports in its Thursday edition that RBC Dominion Securities analyst Michael Siperco has lowered his recommendation for Silvercrest Metals to "sector perform" from "outperform." The Globe's David Leeder writes that Mr. Siperco gave his share target a $4.50 trim to $7.50. Analysts on average target the shares at $10.44. Mr. Siperco says he is "resetting expectations" after Silvercrest updated its plan for its Las Chispas mine in Mexico, revealing lower production, reduced reserves and higher costs. Mr. Siperco says in a note: "We continue to see Las Chispas as a high margin mine, generating significant near term FCF at an in-line relative valuation, however, we think investors will need more visibility into resource/production growth before the stock can trade again at a material premium to peers. Las Chispas is still a solid, high margin mine post-update, and the ramp-up to date (with 2Q results 9 Aug.) has been inline with our forecasts while generating positive FCF. Even on our reduced production forecasts, at spot prices we see $60-million to 70-million per year of mine site FCF generation, with net cash of $50-million expected exiting 2Q23 helping to support the stock at these levels."