| Company Name | Exchange | Ticker | Last Price | Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Yoho Resources Inc | TSXV | YO | 3.25 | 5 | Upgrade to buy from sell | Geoff Ready | Dundee Securities Corp | 4.00 | 23.1% |
| Agnico Eagle Mines Ltd | TSX | AEM | 33.91 | 27 | Upgrade to buy from neutral | Michael S Dudas | Sterne, Agee & Leach | 42.41 | 25.1% |
| Atico Mining Corp | TSXV | ATY | 0.61 | 2 | Initiate with buy | Derek Macpherson | M Partners Inc | 1.80 | 195.1% |
| Richmont Mines Inc | TSX | RIC | 1.64 | 3 | Initiate with outperform | Michael Gray | Macquarie | 3.50 | 113.4% |
| Oryx Petroleum Corp Ltd | TSX | OXC | 14.04 | 9 | Initiate with buy | David Dudlyke | Dundee Securities Corp | 20.00 | 42.5% |
Dundee Securities Corp upgraded Yoho Resources Inc (TSXV: YO), engaged in petroleum and natural gas exploration and development activities, to buy from sell raising its price target to C$4.00 from C$2.40, indicating an upside of 23.1% from current levels. Analyst Geoff Ready believes that the deal between YO and Storm Resources Ltd (TSXV: SRX) to swap Montney rights for cash and shares worth $87.7 million is a positive step of YO, as the deal would reduce debt of the company. According to the deal, YO will sell its 7,500 hectares of undeveloped land in the Umbach-Nig area of northeastern B.C.to SRX.
Meanwhile, Dundee initiated Oryx Petroleum Corp Ltd (TSX: OXC), an international oil exploration company focused on Africa and the Middle East, with a buy rating assigning a 12-month price target of C$20.00, indicating an upside of 42.5% from current levels.
Agnico Eagle Mines Ltd (TSX: AEM), a Canada-based international gold producer, was upgraded to buy from neutral at Sterne, Agee & Leach with a price target of C$42.10, indicating an upside of 25.1% from current levels.
M Partners Inc initiated coverage on Atico Mining Corp (TSXV: ATY), a copper and gold exploration and development company, with a buy rating assigning a 12-month price target of C$1.80, indicating an upside of 19.51% from current levels. Recently, ATY reported that the scale-up and modernization of its recently acquired El Roble copper-gold mine in Colombia are progressing on schedule and it is expected to be operating at full capacity by the fourth quarter of 2014.
Coverage on Richmont Mines Inc (TSX: RIC), engaged in activities related to the acquisition, exploration, development and operation of mineral properties, was initiated with an outperform rating at Macquarie with a price target of C$3.50, indicating an upside of 113.4% from current levels.
| Company Name | Exchange | Ticker | Last Price |
Total Analyst Coverage |
Upgrade/ Downgrade |
Analyst Name | Rating Company | Target Price |
Upside/ Downside (%) |
|---|---|---|---|---|---|---|---|---|---|
| Allegheny Technologies Inc | NYSE | ATI | 33.02 | 12 | Upgrade to outperform from neutral | Julie Yates | Credit Suisse | 41.00 | 24.2% |
| LinnCo LLC | NASDAQ | LNCO | 32.87 | 9 | Upgrade to outperform from neutral | Ethan H Bellamy | Robert W. Baird & Co | 37.00 | 12.6% |
| Ship Finance International Ltd | NYSE | SFL | 17.20 | 9 | Upgrade to buy from hold | Axel Styrman | Nordea Equity Research | 21.00 | 22.1% |
| Tangoe Inc | NASDAQ | TNGO | 18.60 | 6 | Initiate with outperform | Joel P Fishbein Jr | BMO Capital Markets | 23.00 | 23.7% |
| Rowan Cos Plc | NYSE | RDC | 32.78 | 36 | Downgrade to neutral from buy | Angeline M Sedita | UBS | 33.00 | 0.7% |
Credit Suisse upgraded Allegheny Technologies Inc (NYSE: ATI), a diversified specialty metals producer, to outperform from neutral increasing its price target to $41.00 from the earlier target of $34.00, indicating an upside of 24.2% from current levels. The rating firm notes that ATI is valued attractively with limited downside and improved liquidity.
LinnCo LLC (NASDAQ: LNCO), engaged in the development and acquisition of oil and natural gas properties, was upgraded to outperform from neutral at Robert W. Baird & Co with a price target of $37.00, indicating an upside of 12.6% from current levels. The rating firm says that the upgrade is on the premise that LNCO shares distributed in the Berry merger have or soon will have found steady hands and that a LNCO premium to LINE could re-emerge. For both entities, the rating firm likes the potential for an accretive Permian asset swap or monetization as a near-term catalyst.
Nordea Equity Research upgraded Ship Finance International Ltd (NYSE: SFL), engaged primarily in the ownership and operation of vessels and offshore related assets, to buy from hold increasing its price target to $21.00 from the earlier target of $15.70, indicating an upside potential of 22.1% from current levels.
BMO Capital Markets initiated coverage on Tangoe Inc (NASDAQ: TNGO), a global provider of communications lifecycle management (CLM), software and services to a range of enterprises, with an outperform rating assigning a 12-month price target of $23.00, indicating an upside of 23.7% from current levels.
UBS downgraded Rowan Cos Plc (NYSE: RDC), a provider of international and domestic offshore contract drilling services, to neutral from buy lowering its price target to $33.00 from $43.00, indicating an upside of 0.7% from current levels.
