Copper Mountain Mining Corporation T.CUM

Nice!!

[oceaneleven]

The Globe and Mail reports in its Thursday edition that Desjardins Securities analyst Jonathan Egilo has started coverage on Copper Mountain Mining with a "buy" recommendation, believing "current trading levels represent a compelling entry point for investors." The Globe's David L:eeder writes that Mr. Egilo set a share target of $2.50, which 21 cents under the consensus. Mr. Egilo says in a note: The stock's underperformance, driven by operational challenges, as well as a strong forecast for 2023, have created a compelling entry point in our view," said Mr. Egilo. "We believe the current 21.6-per-cent 2023 FCF yield (or 23.9 per cent when using spot metals prices) represents a lack of market confidence in execution. We believe that 4Q results meeting expectations, the 2023 guidance update being largely aligned with the most recent technical report and FCF turning positive again in 1Q23 could drive a significant re-rating ... The stock is trading at a significant discount to its one-, three- and five-year averages relative to the baskets of small-, mid- and large-cap copper producer peers." The Globe reported on Oct. 13 that Haywood had boosted Copper Mountain to "buy" from "hold." It was then worth $1.94