The Globe and Mail reports in its Thursday, Feb. 19, edition that Desjardins Securities analyst Bryce Adams has lowered his recommendation for Capstone Copper to "hold" from "buy" after disappointing corporate guidance for production, cash costs and capital expenditures. The Globe's Darcy Keith writes that Mr. Adams gave his share target a $3 trim to $16. Analysts on average target the shares at $17.16. Mr. Adams says in a note, "Consolidated production guidance of 200–230,000 tonnes copper is below our prior estimate and consensus of 244kt, reflecting a softer outlook across all operations, primarily at Mantoverde (89–102kt vs our/consensus of 106kt/111kt) and Pinto Valley (42–48kt vs our/consensus of 61kt/54kt)." Meanwhile, "cash costs guidance of $2.45 (U.S.)–2.75 (U.S.)/lb Cu is above our/consensus of $2.14 (U.S.)/lb and $2.30 (U.S.)/lb, primarily due to lower grades at Mantos Blancos and Pinto Valley, along with weaker production and inflationary pressures." Total capex guidance of $783-million (U.S.) exceed the consensus expectation of $632-million (U.S.). The Globe reported on April 4 that Mr. Adams has started coverage on Capstone with a "buy" recommendation. The shares could then be had for $5.72.