TD Newcrest Downgrades Gammon Gold (GRS) to Reduce; Citing Weak Q3 Results
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TD Newcrest downgrades Gammon Gold Inc. (NYSE: GRS) from Hold to Reduce.
TD analyst says, "Operational results were well below expectations in the third quarter. With the company ramping up mill throughput following an expansion, significant production growth is expected in Q4, however we believe mining operations will have trouble keeping up with the expanded mill. We believe meeting production targets will be difficult."
To see more analyst ratings on GRS Click Here.
Gammon Gold Inc. engages in the acquisition, exploration, mining, and development of gold and silver deposits in Mexico.
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