-- CIBC Capital Markets lowered its price target on I-80 Gold Corp. (IAU.TO) to $4.25 from $5.
Analyst Bryce Adams maintained an Outperformer rating on shares of the Reno, Nevada-based gold miner after it announced a bought deal equity financing that was increased from gross proceeds of $86 Million to $100 Million.
Adams said this offering is estimated to be 10% dilutive to his NAVPS estimate.
The stock declined 12% on the Toronto Stock Exchange Monday.