The Globe and Mail reports in its Wednesday, Aug. 14, edition that Laurentian Bank Securities analyst Barry Allan has reduced his rating on Americas Silver to "hold" from "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Allan issued his downgrade after Americas Silver posted a second quarter that was "poor" financially and that missed expectations. Nonetheless, he says the share have held up well over the last while. He trimmed his share target by 30 cents to $5.10. Analysts on average target the shares at $4.88. Mr. Allan says in a note: "We do continue to see good growth in quarterly performance for the next 12-months, but much of this growth expectation has become baked into the current share price. More importantly, by the end of 2019, USA should transition from being a producer of zinc, lead and silver, to also being a significant producer of gold (40 per cent of estimated revenue)." The Globe reported on March 12, 2018, that Mr. Allan began coverage on Americas Silver with a "buy" and $8 share target. He said then that Americas Silver was "undervalued compared to its peer group." The shares could then be had for $4.42.
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