10:08 AM EST, 03/06/2024 (MT Newswires) -- Argonaut Gold Inc. ( ARNGF ) rose more than 13% on Wednesday.

The Canadian-based gold producer reported Q4 results before market open, after previously announcing quarterly production and its year-end cash balance in January.

"Today, Argonaut reported an earnings miss, higher-than-expected capex and costs above consensus expectations," Desjardins analyst John Sclodnick said in a note to clients.

"The company remains focused on refinancing its loan facilities and will require an additional waiver on its debt covenants on March 8," Sclodnick said.

The analyst maintained a Hold rating and $0.35 price target on Argonaut shares.

The stock rose $0.035, or 13.7%, to $0.29 on the Toronto Stock Exchange.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 0.29, Change: +0.03, Percent Change: +13.73