Ben Pirie, an analyst from Atrium Research, maintained the Buy rating on Mineros SA. The associated price target remains the same with C$11.50.
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Ben Pirie has given his Buy rating due to a combination of factors tied to Mineros S.A.’s strong operational performance and growth outlook. First-quarter production of gold and silver exceeded his expectations, with total output rising year over year and tracking toward the higher end of the company’s annual guidance range, which supports confidence in near‑term results.
A key driver behind his positive stance is the exceptional performance at the Hemco operation in Nicaragua, where both gold and silver volumes significantly surpassed his forecasts. The ongoing expansion of processing capacity at Hemco, which is already ahead of earlier throughput levels and progressing toward its year‑end target, underpins further production growth and justifies maintaining a Buy recommendation and the existing target price.