Andean Resources "sector outperform," target price raised 04/29/08 - Haywood Securities NEW YORK, April 29 (newratings.com) - Analysts at Haywood Securities maintain their "sector outperform" rating on Andean Resources Ltd (A5Z). The target price has been raised from $2.55 to $2.60.
In a research note published this morning, the analysts mention that the company has completed a bought deal worth $40 million and its Eureka West vein resources have risen to 23.7 million ounces of silver and 1.4 million ounces of gold. The recent financing provides Andean Resources with a robust cash position to advance the Cerro Negro exploration, the analysts say.
