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Nevada Copper Corp. (TSX:NCU) maintained its “Buy” rating from Dundee Capital Markets, according to the Globe and Mail’s Friday, Feb. 27, edition.
As quoted in the article:
The Globe and Mail reports in its Friday, Feb. 27, edition that Nevada Copper ($1.58) has completed its production shaft to the 1,900 foot level at its Pumpkin Hollow copper development in Nevada. The Globe’s Jody White and Luke Kawa write in the Eye On Equities column that Dundee Capital Markets analyst Joseph Gallucci says: “This represents a significant milestone for Nevada Copper. … We believe that with the permitting and shaft sinking being derisked, Nevada Copper has become a mergers and acquisition target.” However, the company still needs to raise financing to complete the first phase of this development. Dundee kept its “buy” rating on Nevada Copper stock and has a target price of $3. The consensus target price is $3.80. Desjardins Securities analyst Jackie Przybylowski maintained Nevada Copper as a top pick with a target price of $4.50 in the Eye column on Jan. 6. In the item, Ms. Przybylowski said she believes “the company will be an increasingly attractive acquisition target as visibility to obtaining permits improves.” The shares could then be had for $1.60. The shares have a 52-week range of $1.12 to $2.83.