RE:At $4 copper CMMC earns over $1 per share, and EVA is huge Globe says Copper Mountain Mining hiked to "strong buy"
2020-12-02 09:09 ET - In the News
The Globe and Mail reports in its Wednesday, Dec. 2, edition that Industrial Alliance Securities analyst George Topping, in response to the new life-of-mine plan for Copper Mountain Mining's ($1.64) Copper Mountain mine in British Columbia, boosted his rating to "strong buy" from "buy." The Globe's David Leeder writes that Mr. Topping calls the planned expansion "attractive to the industry." Mr. Topping believes that now is a "good timing for more copper." Expecting partner Mitsubishi, which holds a 25-per-cent interest as well as the majority of Copper Mountain's debt, to remain supportive, Mr. Topping raised his share target to $2.50 from $1.50, noting it is "highly sensitive" to copper prices. Analysts on average target Copper Mining shares at $1.70. Mr. Topping says in a note: "Copper Mountain has high torque to copper as the stock has risen 41 per cent (copper prices up 14 per cent) over the last month. The low-cost, low-risk expansion plan will add significantly to the scale, increasing copper and gold production by 40 per cent. Copper-focused mining companies are scarce such that funds flow into the sector, made popular by copper's irreplaceable role in 'green' initiatives, will drive share prices higher."
GLTA! always DYODD!!