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Yesterday Scotia initiated coverage on Lundin Gold (LUG.to), with the fanfare rollout this Friday morning. Hey wow, outperform rating, now there's a surprise. Hey wow, 76% upside to target, sure to get them clientele greed glands flowing:
The result: The Lundins' snazzy new gold thing, the big fat gold project they bought from Kinross that's getting all the "oh yes we love mining" talk from the Correa government and as an equity issue is guaranteed heavy sellside brown-nosing due to its owners gets...2,500 shares traded yesterday and 23,900 today (to midday). Yay, go sellside.
Not that your jobs are in jeopardy or anything, guys...