BMO Capital Downgrades MAC Cooper (MTAL) to Market Perform

BMO Capital analyst Matthew Murphy downgraded MAC Cooper (NYSE: MTAL) from Outperform to Market Perform with a price target of $12.25 (from $11.00).

The analyst commented, "We are adjusting our MTAL target price to $12.25 from $11.00 to reflect the bid made by Harmony Gold. Our target now reflects the Harmony bid. We note the stock has traded through the deal price at times. We do not rule out that possibility, but would not expect a materially higher price and with insufficient upside to our target. We are downgrading to Market Perform. We have updated our model and target price to fully reflect the outlook from the Q1 activity report."

For an analyst ratings summary and ratings history on MAC Cooper click here. For more ratings news on MAC Cooper click here.

Shares of MAC Cooper closed at $12.16 yesterday.

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