Caledonia Mining downgraded to Hold from Speculative Buy at Cantor Fitzgerald

Cantor Fitzgerald downgraded Caledonia Mining to Hold from Speculative Buy with a C$11.50 price target, down from C$11.75. The company’s Q4 results were mixed against Cantor’s estimates that were adjusted markedly lower following the earnings warning earlier this month, the analyst tells investors in a research note. The firm cites the relatively modest return to its price target for the downgrade.