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Magna Mining Price Target Lowered to C$4.80 at Desjardins

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Desjardins lowered its price target on Magna Mining Inc. (NICU.TO) to C$4.80 from C$5 on Tuesday.

Analyst Bryce Adams maintained a buy rating on shares of the Canadian mining company following the C$140 million strategic investment by Alpayana.

"We view the deal positively as it brings in an experienced underground operator as an approximate 19.9% cornerstone shareholder and fully funds the potential of simultaneously advancing/fast forwarding Levack and Crean Hill," Adams said in a note to clients.

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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