Futures slip, bank earnings ahead, Powell to speak - what’s moving markets
Investing.com - BMO Capital has raised its price target on Artemis Gold Inc (TSX:ARTG) (OTC:ARGTF) to Cdn$37.00 from Cdn$31.00 while maintaining an Outperform rating. The company, currently valued at $5.5 billion, has demonstrated remarkable momentum with a 153% year-to-date return. According to InvestingPro data, Artemis Gold maintains a "GOOD" financial health score, with analysts expecting net income growth this year.
The price target increase follows Artemis Gold’s announcement of an 8 million tonnes per annum (Mtpa) Phase 1A expansion at its Blackwater mine, which is expected to be completed by Q4 2026.
BMO Capital noted that the expansion is both efficient and cost-effective, bringing forward cashflow that can fund the Phase 2 expansion while derisking the company’s plans to reach 15Mtpa production capacity.
The investment firm described Blackwater as "among the highest profile new mines globally" in its analysis of the Canadian gold mining company’s operations.
BMO Capital expects continued share price appreciation as Artemis Gold establishes an operational track record and implements its expansion plans at the Blackwater mine.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.