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Company News

BUZZ-McEwen Mining: AGP trims PT after production woes at Gold Bar

** Brokerage Alliance Global Partners lowers PT on Canadian miner’s U.S.-listed shares by 10 cents to $2.75 after co reports Q1 production results

** MUX produced 36,166 gold equivalent ounces (GEOs) in Q1, short of brokerage’s estimate, due to delayed production at its Gold Bar mine in Nevada

** MUX also lowers FY 2019 production forecast to 205,000 GEOs from 210,000 GEOs

** AGP, however, maintains “buy” rating, says its view on MUX or its growth potential is unchanged

** All 4 brokerages covering the U.S.-listed stock rate it “buy”; median PT $2.88

** MUX down 16.5% on NYSE and 18.8% on TSX this year (Reporting by Ahmed Farhatha)

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