RBC downgrades Elk valuation 

RBC Capital Markets has downgraded its valuation of US-focused oil and gas producer Elk Petroleum from outperform to sector perform and its price target from 15 cents per share to 4c over its debt burden. 

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Elk downgraded by RBC

The bank has been a strong backer of the Rocky Mountain-focused company, declaring last year it "believed in Mr Grieve" and picturesquely suggesting the former junior's move into the Aneth field had