Andrew Mikitchook, an analyst from BMO Capital, maintained the Buy rating on G Mining Ventures (GMINF – Research Report). The associated price target was raised to C$22.00.
Andrew Mikitchook has given his Buy rating due to a combination of factors including G Mining Ventures’ strong financial performance and strategic project developments. The company’s Q4 financials exceeded expectations with an adjusted EPS of $0.36 and an AISC of $862 per ounce, which were better than anticipated. This strong performance is expected to continue, with projections for 2025 indicating significant production and cash flow that will support the construction of the Oko West project.
Additionally, the advancement of the Oko West feasibility study and the ongoing detailed engineering studies demonstrate the company’s commitment to growth and operational excellence. The management’s strategy to potentially fund the Oko West build through Tocantinzinho cash flows and debt facilities further strengthens their financial position. These factors, combined with G Mining Ventures’ experience in mine-building and its potential to achieve multi-asset producer status, contribute to the positive outlook and Buy rating.
In another report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a C$18.00 price target.
GMINF’s price has also changed dramatically for the past six months – from $6.907 to $13.060, which is a 89.08% increase.