Gentry Resources "buy," target price raised

01/13/04 - Research Capital

NEW YORK, January 13 (New Ratings) — Analyst Alistair Toward of Research Capital reiterates his "buy" rating on Gentry Resources Ltd (GNY-TSX). The target price has been raised from $2.50 to $2.65.

In a research note published yesterday, the analyst mentions that the company’s 2003 production was in-line with the guidance. The target price has been raised to reflect an improvement in the commodity price environment, the analyst adds. Research Capital expects the company to continue to increase its volumes in the near future.