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Fly News Breaks for December 10, 2018
AUY
Dec 10, 2018 | 07:29 EDT
BMO Capital analyst Andrew Kaip downgraded Yamana Gold to Market Perform from Outperform and lowered his price target to $3 from $4, having added other large gold producers to his coverage with an Underperform rating. The analyst notes that his prior upgrade on the stock was driven by expectations of commercial production at Cerro Moro, and while the company has executed well at the site, he points to the headwinds from the new Argentina export tax along with the persistently low gold and silver prices.
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