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Artemis Gold Downgraded to Hold at TD

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Artemis Gold (ARTG.V) was downgraded to Hold from Buy at TD Securities on Tuesday.

Analyst Wayne Lam lowered his price target on shares of the Canadian mining company to $38 from $50.

"We downgrade ARTG shares... given tempered FCF outlook as the company moves through an investment cycle," Lam said in a note to clients.

"While we remain constructive on long-term fundamentals with strong execution to date and low-cost operations, we view potential for investors to seek other opportunities with greater near-term FCF," the analyst said.

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