Rubicon Minerals (NYSE:RBY) PT Raised on Phoenix Gold Deposit

Rubicon Minerals (NYSE:RBY) has justifiably received a lot of press lately on the news of their high-grade resource estimates in connection to their Phoenix Gold Project, which the 100 percent own.

TD Newcrest said, "The initial estimate outlined a significant, high-grade deposit, in our view, that markedly exceeded our modeled resource inventory of 3.0 mm ounces (6.4 mm tons grading 16 g/t)."

They maintain a "Speculative Buy" rating on the company.

Rubicon was trading at $5.83, down $0.21, or 3.48 percent as of 12:13 PM EST. TD has a price target of C$10.00 on them, raising it from C$6.00.

Trading volume is almost four times the usual daily 3-month average.

Agrium (NYSE:AGU) Awaits China Export Policy Decision

Agrium Inc. (NYSE:AGU) is waiting on the decision by China on their new fertilizer export policy, which could benefit them if urea is targeted, according to TD Newcrest.

TD noted, "We await further details, but we expect any announced changes to China's fertilizer export policy to carry positive implications for the fertilizer sector given the explicit China government attempt to further restrict fertilizer exports. Particularly, an earlier peak season China export tariff on urea would be positive for AGU given its relative leverage towards nitrogen."

Agrium retains their "Buy" rating on them for Newcrest, although earnings and price target was lowered significantly.

Full year 2010 earnings were dropped from $4.59 to $4.57, and for full year 2011, from $6.34 to $6.25.

Agrium was trading at $80.12, dropping $0.87, or 1.07 percent at 12:47 PM EST, TD Newcrest has a price target of $95 on them now, slashing it from $105.

Denison Mines (NYSE:DNN) Moving Up on Long Term Uranium Prices

The market has quickly changed for the outlook of uranium prices, as they had been dragged down by the low price of natural gas and uncertainty as to the future of nuclear, at least in the short term. Denison Mines (NYSE:DNN) and other uranium miners have continued to push up even in those circumstances, and have received more impetus lately as analysts and commentators focus again on uranium.

TD Newcrest upgraded Denison as a result of the expected long-term price increase in uranium.

They said, "We are increasing our target price our rating following our increased uranium price forecasts. And we have updated our valuation estimates to reflect yesterday’s preliminary resource estimate for the Wheeler River discovery, which was below our estimates and previous company guidance ranges."

Denison was trading at $2.72, up by $0.07, or 2.64 percent at 1:25 PM EST. TD Newcrest raised their price target on them from C$2 to C$3.

Denison Mines (AMEX:DNN) Downgraded by TD Newcrest

TD Newcrest lowered their rating on Denison Mines (AMEX:DNN) from "Hold" to "Reduce," "given the negative 22% return to our target price following a recent increase in the company’s share price."

Since July 6, when Denison was as low as $1.08, they've made a nice move upward, closing on Friday at $2.51, losing $0.05, or 1.95 percent.

Denison recently released their latest quarterly report, and they generated revenue of $39.9 million, losing $9.5 million, or $0.03 a share.

Denison is involved in all aspects of uranium, from exploration to milling, and has an ancillary product they produce in vanadium.

TD Newcrest maintains a price target on them of C$2.00.

Taseko Mines (Amex:TGB) Battered on Prosperity Copper, Gold Mine Decision

Taseko Mines (Amex:TGB) was dealt a devastating blow no matter how it is spun, as the Office of the Minister of the Environment rejected the Prosperity Copper and Gold Mine, leaving Taseko and its shareholders with nothing for the effort.

Cannacord Genuity and TD Newcrest didn't take long to downgrade the mining company. Cannacord downgraded them from "Buy" to "Hold," while TD Newcrest lowered their rating from "Hold" to "Reduce."

"Yesterday (Tuesday), after the market close, the Office of the Minister of the Environment reported that the Federal Cabinet rejected Taseko Mines’ Prosperity copper-gold project, as proposed. According to a statement made by the Environment Minister Jim Prentice, the project was rejected due to the adverse effects it would have on the environment...We have removed the Prosperity project from our valuation estimates. As a result our 10%NAVPS estimates dropped $3.38/share to $4.25 from $7.63 previously, and our target price has been lowered to C$5.00 from $6.75."

Taseko closed Tuesday at $4.91, dropping $1.57, or 24.23 percent.