Kevin O’Halloran, an analyst from BMO Capital, maintained the Buy rating on Aya Gold & Silver (AYA – Research Report). The associated price target remains the same with C$22.50.
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Kevin O’Halloran has given his Buy rating due to a combination of factors related to Aya Gold & Silver’s operational performance and future prospects. The ongoing expansion of the Zgounder mine is a significant factor, as it is anticipated to considerably boost silver production starting in 2025. This expansion, coupled with successful resource growth, positions the company for substantial future gains.
Despite a temporary decline in production due to a planned mill shutdown, the company demonstrated strong mining rate improvements. The increase in throughput per operating hour and the alignment of processed silver grades with forecasts further support the positive outlook. These operational efficiencies, along with the anticipated production growth, underpin O’Halloran’s confidence in the company’s potential, leading to the Buy rating.
In another report released on February 25, CIBC also maintained a Buy rating on the stock with a C$23.00 price target.
AYA’s price has also changed moderately for the past six months – from C$14.130 to C$11.720, which is a -17.06% drop .