AR Gold maintained at outperform at BMODespite the company's lower-than-expected fourth-quarter production, BMO Capital Markets to maintain its outperform rating on Argonaut Gold AR shares and its C$1.00 price target on Friday.
"A miss at Magino more than made up for the strong performance from the Mexico and Florida Canyon mines, which were highlighted in Argonaut's fourth-quarter production figures. The company's yearly production for the year was 197.5 koz AuEq, falling short of the 200–230 koz AuEq projection. The Magino firm has been facing a shortage of trained mining staff, but they have also shown a good trend in throughput, which they hope to maintain until 2024. Analyst Brian Quast stated, "We continue to maintain our Outperform rating and C$1.00 target price."