11:09 AM EDT, 11/01/2022 (MT Newswires) -- BMO Capital Markets on Tuesday initiated coverage of Arizona Metals(AZMCF) with an outperform/speculative-risk rating and a C$6.50 price target.
"We are initiating coverage of Arizona Metals(AZMCF) with an Outperform (Speculative) rating and $6.50 target price," analyst Rene Cartier noted. "Arizona Metals(AZMCF), headquartered in Toronto, Ontario, is dedicated to advancing exploration, permitting, and development at the Kay Mine copper-gold-silver-zinc project located in Arizona, USA. The estimated low capital intensity project is located in an attractive mining jurisdiction in proximity to established infrastructure with strong exploration results to date and additional prospective near-mine targets. Our $6.50 target price implies a 1.0x multiple to our NAV10% estimate and an 86% return."
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