Rene Cartier, an analyst from BMO Capital, maintained the Buy rating on Marimaca Copper. The associated price target was raised to C$12.00.
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Rene Cartier has given his Buy rating due to a combination of factors, primarily driven by Marimaca Copper’s promising drilling results at the Pampa Medina deposit. The recent extension of high-grade copper mineralization 300 meters to the west of previous drilling highlights the potential for increased copper production and an extended mine life. The company’s ongoing 10,000-meter extensional drilling program, which has already achieved significant results, suggests further resource expansion opportunities.
Additionally, Marimaca’s strategic focus on both infill and extensional drilling, along with the potential for underground mining opportunities, enhances the project’s long-term viability. The positive drilling outcomes, including substantial intersections of high-grade copper, indicate strong potential for resource growth. Furthermore, as Marimaca progresses with permitting and project development, there is potential for positive news flow, which could further support the stock’s performance.
According to TipRanks, Cartier is a 5-star analyst with an average return of 24.7% and a 62.87% success rate. Cartier covers the Basic Materials sector, focusing on stocks such as Taseko Mines, Marimaca Copper, and Osisko Gold Royalties.