Some research reports stick in the brain more than others and one that did just that for your humble scribe was the note written by Adam Graf of Dalman Rose & Co and published on October 1st last year. The subject matter was Golden Minerals (AUMN) (AUM.to) ( $AUMN ) and the reason it was memorable wasn't for its 35 pages of fun, frolics and pretty maps, but for its price target.
That's because Adam Graf decided to place a $104 target on what was at that time a $15 stock.
Yeah really, and if you don't believe me, take a look yourself as here's a Scribd copy of the thing and a fascinating journey into "what could possibly go wrong" it is. This humble corner of cyberspace urges student of junior mining and the anal ysts that comment upon them to read and digest. Plenty of lessons to be learned there.
So anyway, cut to today and let's see how $AUMN has done compared to Graf's call
Oh dear.
Something else worth noticing is that not everyone took the same bullish attitude towards the future of AUMN as Adam Graf. For example the company head honcho, Jeffrey Clevenger, who sold half a million dollars' worth of his own stock in February. Turns out that was pretty good timing, which must come as a shock to us all. DYODD, dudettes and dudes.