Axo Copper initiated with a Buy at Stifel

Stifel initiated coverage of Axo Copper (AXOCF) with a Buy rating and $2 price target While acknowledging Mexican operating risks, the firm thinks “painting risk with a wide brush provides mispriced opportunities” and the potential in time to see broader jurisdictional rerating via policy softening. The San Antonio project provides a largely funded $50M pathway to phased 40/100k ozpa by 2028, the analyst tells investors.