Raymond James cut shares of Mandalay Resources Corp. (TSE:MND) from a strong-buy rating to an outperform rating in a research note published on Monday morning, MarketBeat reports.

In other Mandalay Resources Corp. news, insider West Face Capital Inc. sold 2,200,000 shares of the stock in a transaction dated Wednesday, January 13th. The stock was sold at an average price of C$0.65, for a total value of C$1,431,980.00.

Separately, BMO Capital Markets decreased their price objective on Mandalay Resources Corp. from C$1.00 to C$0.90 in a research note on Wednesday, October 7th.

Mandalay Resources Corp. (TSE:MND) opened at 0.70 on Monday. Mandalay Resources Corp. has a 52-week low of $0.59 and a 52-week high of $0.99. The stock’s 50 day moving average price is $0.66 and its 200-day moving average price is $0.76. The stock has a market capitalization of $287.29 million and a PE ratio of 10.45.

Mandalay Resources Corporation (TSE:MND) is a Canada-based mining company, engaged in the business of acquiring, discovering, developing and producing mineral commodities. The Company’s focus is on gold, silver and antimony in Australia, Chile, and Sweden. The Company’s producing assets are its Costerfield gold-antimony mine in Victoria, Australia; its Cerro Bayo silver-gold mine in Patagonia, Chile, and its Bjorkdal gold mine in northern Sweden. The Company has completed a feasibility study on its Challacollo silver-gold project near Iquique, Chile. The Company conducts exploration on near mine and district targets at its operating and feasibility-stage projects. Mandalay operates the 100%-owned Costerfield gold-antimony mine in Victoria, Australia. The Cerro Bayo is a 100%-owned Ag-Au mine located in the Aysen Province of southern Chile. The Bjorkdal is a 100% owned gold mine located in northern Sweden.

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