Ben Pirie, an analyst from Atrium Research, maintained the Buy rating on Santacruz Silver Mining. The associated price target was raised to C$2.50.
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Ben Pirie has given his Buy rating due to a combination of factors that highlight Santacruz Silver Mining’s strategic financial maneuvers and growth potential. The company has successfully completed its financial obligations to Glencore, marking the full settlement of a significant $40 million Acceleration Option related to its Bolivian asset acquisition. This achievement not only demonstrates Santacruz’s disciplined financial management but also positions the company to focus on growth initiatives, mergers and acquisitions, and shareholder returns.
Furthermore, the analyst has increased the target price for Santacruz’s stock to C$2.50 per share, reflecting positive trends in silver prices and a favorable expansion in the sector’s valuation multiples. The completion of these payments has effectively reduced the company’s debt, securing substantial savings and reinforcing its financial stability. This strategic positioning and financial prudence underpin Ben Pirie’s confidence in recommending a Buy rating for Santacruz Silver Mining.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a C$2.50 price target.