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Argonaut Gold Inc
Symbol AR
Shares Issued 330,977,075
Close 2022-05-24 C$ 1.33
Market Cap C$ 440,199,510
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Globe says Fairbarn sees Argonaut, Wesdome moving up

2022-05-24 08:02 ET - In the News

Also In the News (C-WDO) Wesdome Gold Mines Ltd

The Globe and Mail reports in its Saturday, May 21, edition that Canaccord analyst Michael Fairbarn sees the recent sector-wide pullback for Canadian junior precious metals producers as a buying opportunity. The Globe's David Leeder writes that Mr. Fairbarn says in a note: "While we look to the gold price to find its floor over the short term, we remain constructive on its prospects over the medium to long term. We believe there are many quality names in our coverage selling at prices more attractive than they were a few months prior, with fundamentals relatively unchanged despite the bumpy Q1." Mr. Fairbarn updated a pair of stocks based on valuation on Friday. He upgraded Argonaut Gold to "hold" from "sell" with an unchanged $1.50 share target. Analysts on average target Argonaut shares at $2.57. Mr. Fairbarn boosted Wesdome Gold Mines to "buy" from "hold," with a $14 target, down from $17. Analysts on average target Wesdome shares at $16.65. The Globe reported on Feb. 1 that Mr. Fairbarn resumed coverage on Argonaut Gold with a "speculative buy" recommendation when the shares were going for $2.30. The Globe reported on March 12 that Mr. Fairbarn cut Wesdome to "hold" from "buy." It was then worth $16.29.

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