Scotia Capital Has Sector Outperform on Minefinders Corporation

Scotia Capital is out with a research report on Minefinders Corporation Ltd.

and it has a Sector Outperform rating and a $22 price target on shares. In a note to clients, Scotia Capital writes, "We already incorporate a mill scenario that is accretive to our valuation due to its modest capital cost and enhanced gold and silver recoveries. It is also positive because Minefinders has the cash to fund this growth." Shares of MFN closed at $14.50 yesterday.