Scotia Capital Has Sector Perform on AuRico Gold

Scotia Capital is out with a research report on AuRico Gold Inc. (NYSE: AUQ) and it has a Sector Perform rating and a $16 price target on shares.

In a note to clients, Scotia Capital writes, "Northgate shareholders voted to accept AuRico's takeover bid at a 0.365 share exchange ratio. Likewise, AuRico shareholders approved the issuance of approximately 107 million shares (about 60% dilution)."

Shares of AUQ closed at $9.66 yesterday.