Arizona Metals downgraded to Hold at Stifel after Kay economic assessment

As previously reported, Stifel downgraded Arizona Metals (AZMCF) to Hold from Buy with a price target of C$0.35, down from C$1.50, following the release of the Kay Preliminary Economic Assessment. The “marginal PEA economics” detailed a “suboptimal” profitability ratio at spot prices, the analyst tells investors.