TD Newcrest Upgrades Minefinders Corp. (MFN) to Hold; Q4 Production Rebounds

TD Newcrest upgraded Minefinders Corp. (NYSE: MFN) from Reduce to Hold with a price target of C$14.00.

TD analyst says, "Minefinders’ share price has come off nearly 30% since November when it announced a construction decision on a mill without a well-defined plan or resource, which created some uncertainty in the market. We expect more detail on the integrated operation and a 43-101 report will be released by the company sometime in early 2012, which should help alleviate this concern...We believe the stock is now appropriately valued due to share price depreciation, especially following this quarter’s results, which improved after a couple of bumpy quarters."

For an analyst ratings summary and ratings history on Minefinders Corp. click here. For more ratings news on Minefinders Corp. click here.

Shares of Minefinders Corp. closed at $11.27 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Wells Fargo Upgrades FOX Corp. (FOXA) to Overweight
• Kotak Upgrades Honasa Consumer Ltd (HONASA:IN) to Buy (1)
• HSBC Upgrades Digital Realty Trust (DLR) to Buy