BMO Capital update on Calibre Mining BMO Capital analyst Brian Quast maintained a Buy rating on Calibre Mining (CXB – Research Report) today and set a price target of C$3.40.
BMO Capital has given a Buy rating due to a combination of factors including Calibre Mining’s solid earnings performance and operational updates. The company’s second-quarter earnings per share (EPS) aligned with both BMO Capital’s and consensus expectations, which showcases the company’s ability to meet industry standards. Furthermore, Calibre Mining’s update on the Valentine Gold project, which is on track for production in Q2/25, indicates a strong future production potential, and the increased exploration budget signifies a commitment to further growth and value creation.
He also highlights the company’s effective cost management, as evidenced by in-line Total Cash Costs (TCC) and All-in Sustaining Costs (AISC), with expectations for these costs to decrease in the second half of the year. The company’s production is anticipated to increase with the addition of new mining operations, such as the open-pit Volcan Mine. Additionally, the recent approval of a third open pit and the positive cash balance growth underscore the company’s financial health and readiness for expansion. These strategic operational and financial milestones contribute to the Buy recommendation, reflecting confidence in the company’s capacity to deliver shareholder value.