OTCPK:CPPMF - Post by User
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TELEMARKERon Dec 16, 2021 12:02pm
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stockwatch
stockwatch Globe says Copper Mountain reaffirmed at "outperform"
2021-12-15 08:28 ET - In the News
The Globe and Mail reports in its Wednesday, Dec. 15, edition that BMO Nesbitt Burns analyst Rene Cartier has reaffirmed his "outperform" recommendation for Copper Mountain Mining. The Globe's David Leeder writes that Mr. Cartier cut his target to $4.50 from $4.75. Analysts on average target the shares at $5. Mr. Cartier says in a note: "Copper Mountain Mining provided an update on its Eva copper project, including capital and operating costs, as well as commentary around an associated development plan and timeline. In our view, higher capital costs were expected, and telegraphed, though the increase was higher than our forecast. We have refined our project timeline, and continue to expect Copper Mountain will take a disciplined approach toward development with funding through a combination of internally generated cash flow and debt financing. After factoring in the update, our target price lowers slightly." The Globe reported on Jan. 12 that Scotia Capital's Orest Wowkodaw boosted his rating to "sector outperform" from "sector perform." The shares were then worth $2.25. The Globe reported on Oct. 13 that Mr. Wowkodaw had reaffirmed "sector outperform" rating when the shares could be had for $3.24.