CIBC downgraded Victoria Gold to Underperformer from Neutral with a price target of $4, down from $10, after the company announced the heap leach pad at its Eagle Gold Mine in Yukon experienced a failure. The operation has been temporarily suspended as the situation is being assessed, the analyst tells investors in a research note. The firm cites the uncertainty around the length of the suspension at Eagle, the status of operation, and implications from a regulatory perspective for the downgrade.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VITFF: