Rupert Resources (RUP) has received a new Buy rating, initiated by BMO Capital analyst, Brian Quast.
Brian Quast has given his Buy rating due to a combination of factors including Rupert Resources’ recent successful capital raising activities and strategic initiatives. The company has secured approximately C$85 million through a bought deal and a private placement, which will support ongoing exploration and studies on its Finnish properties. This financial boost is expected to fund the company’s strategic focus for 2025, which includes a definitive feasibility study, exploration activities, and environmental assessments without the need for additional financing.
Furthermore, the company’s decision to revise its fiscal year-end aligns its financial reporting with industry standards, enhancing transparency and comparability. Rupert Resources’ strategic focus on its Finnish properties, combined with its strong financial position, suggests potential for significant value creation through multi-million-ounce discoveries. These factors collectively underpin Quast’s confidence in maintaining an Outperform rating and a target price of C$8.00 for the stock.