Scotiabank raised the firm’s price target on Blue Moon Metals (BMM) to C$12.50 from C$9 and keeps an Outperform rating on the shares. The firm cites the recent rebound in metal prices for the target boost. The copper price is up 10% from recent lows on March 23 while gold is up 17%, the analyst tells investors in a research note. Scotiabank continues to see additional upside from Blue Moon’s Springer complex.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BMM:
- Blue Moon Metals Expands U.S. Portfolio With Gage Project Acquisition and Senior VP Appointment
- Blue Moon Metals Consolidates Apex Germanium-Gallium District With Gage Project Deal
- Liberty Gold announces sale of Gage Project for $2M, 2% NSR royalty
- Blue Moon Metals enters agreement to acquire Gage Project
- Blue Moon Closes Apex Mine Deal, Deepens Strategic Ties With Teck