West Red Lake downgraded to Market Perform from Outperform at Raymond James

Raymond James downgraded West Red Lake (WRLGF) to Market Perform from Outperform with a price target of C$1, down from C$2. West Red Lake reported Q1 gold sales and full-year production guidance below expectations, and the updated outlook reflects a more conservative mine plan with lower grades, elevated all-in sustaining costs, and cautious assumptions around future production additions due to uncertainty and a history of execution shortfalls, the analyst tells investors in a research note.