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...why Rio Alto Mining (RIO.v) has been hanging tough and shaking off the gold price downturn today (it's actually green on the day), the likely reason is that Ian Parkinson of CIBC World Markets (along with assistant Matthew Gibson) published an opening of coverage report on the company yesterday after the bell, called RIO.v as a buy and stuck a $3.80 target on the thing. I've read the report and must say it's a very well written and strongly constructed argument too, so kudos to Parkinson.
UPDATE (post closing bell): What? You'd like to read it too? Ok, here you go, download a copy and knock yourself out.