-- West Red Lake Gold Mines Ltd. (WRLG.V) was downgraded to Market Perform from Outperform at Raymond James.
Analyst Craig Stanley lowered his price target on shares of the Canadian gold producer and developer to $1 from $2.
"The company reported 1Q26 gold sales and 2026 production guidance that were below our estimates," Stanley said in a note to clients.
"1Q26 gold sales were 6.2 k oz versus our estimate of 9.1 k oz. No production, tonnes, grade, or metallurgical recovery information were provided," the analyst said.
"This is disappointing, especially regarding grade given the project's history under the previous owner (though we note a 2025 bulk sample was in-line with the resource model)."