Nicholas Cortellucci, an analyst from Atrium Research, maintained the Buy rating on BQE Water. The associated price target is C$80.00.
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Nicholas Cortellucci has given his Buy rating due to a combination of factors that highlight BQE Water’s strategic advancements and market potential. The company has successfully moved its SART plant for Shandong Gold, China’s largest gold producer, into full production. This development is significant as it replaces a more expensive system, enhances cyanide recycling, and generates valuable copper and zinc concentrates, all while reducing operational costs.
With three SART plants now operational in the region, BQE Water is well-positioned to expand its cyanide management services in Asia. The demand for such technical services is expected to grow, especially with the rising gold prices. The company’s ability to manage complex feed conditions and cut costs further supports its growth prospects, justifying the Buy rating and the target price of $80.00 per share.
According to TipRanks, Cortellucci is an analyst with an average return of -9.7% and a 22.78% success rate.