Western Copper initiated with an Outperform at National Bank

National Bank initiated coverage of Western Copper with an Outperform rating and C$3.50 price target. The company’s Casino project is emerging as a prime acquisition target for senior producers as it hosts one of the largest undeveloped Cu-Au-Mo porphyry deposits globally but has been overlooked in recent years due to remote infrastructure and permitting in the Yukon Territory, the analyst tells investors in a research note. The project’s outlook is improving however in alignment with Canada’s Critical Minerals Strategy and as the company builds on the last decade of quiet engineering and consultation efforts that have significantly de-risked the Casino project ahead of major permitting, the firm added.