OTCPK:CPPMF - Post by User
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TELEMARKERon Apr 18, 2022 3:14pm
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stockwatch
stockwatch Globe says National's Nagle keen on Copper Mountain
2022-04-11 07:15 ET - In the News
The Globe and Mail reports in its Saturday, April 9, edition that National Bank Financial analyst Shane Nagle sees equity valuations in the base metals sector remaining discounted despite strong performance thus far in 2022. The Globe's David Leeder writes that Mr. Nagle has reaffirmed his "outperform" call for Copper Mountain Mining. Mr. Nagle targets the shares at $4.75. Analysts on average target the shares at $5.21. Mr. Nagle says in a note: "Despite processing lower grades and mill downtime associated with repairs to the secondary crusher shaft early in the year, the mill expansion to 45,000 tpd at Copper Mountain Mine is complete and a LOM plan based on updated reserves and 100,000 tpd mill throughput is anticipated in Q3/22. While the company is embarking on a large capital spend at Eva (where a funding package is anticipated by midyear), Copper Mountain has several additional catalysts and ongoing exploration efforts are expected to showcase the longer-term optionality of the portfolio." The Globe reported on Dec. 15 that BMO rated Copper Mountain "outperform." It was then worth $3.05. The Globe reported on Jan. 13 that National Bank rated it "outperform." It was then worth $3.70.