Investment analysts at Desjardins dropped their target price on shares of Short Smallcap600 (NYSE: SBB) from $8.00 to $6.75 in a note issued to investors on Wednesday. The firm currently has a “positive” rating on the stock.
The analysts wrote, “The Back River PEA emphasizes the importance of the higher grades and continuity of the deposits on the Back River property. We believe that the project remains highly prospective for new discoveries of similar, if not better, grade, which should have a further positive impact on the project economics. Given the favourable political jurisdiction and strong exploration newsflow throughout 2012, we are maintaining our Buy–Speculative rating on the shares.”
Shares of Short Smallcap600 traded up 1.82% during mid-day trading on Wednesday, hitting $24.10. Short Smallcap600 has a 52 week low of $22.08 and a 52 week high of $33.20.
ProShares Short SmallCap600 (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the S&P SmallCap 600 Index (the Index).
