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Investing.com - Goldman Sachs initiated coverage on Chrysos Corp Ltd (ASX:C79) with a Buy rating and a price target of AUD9.85, representing a potential 26% total shareholder return.
The investment bank cited Chrysos’ proprietary PhotonAssay technology, which provides faster, safer, and more environmentally sustainable ore analysis services to the mining industry, particularly for gold and other elements.
Goldman Sachs highlighted the company’s robust unit economics with return on invested capital of approximately 40% and a payback period of about 2.5 years, along with established relationships with four major geochemical laboratories and 70% of the world’s largest gold miners.
The firm noted that Chrysos has deployed 40 units to date with agreements in place for 63 globally, yet serves less than 5% of its global total addressable market, suggesting substantial growth potential.
Goldman Sachs also pointed to favorable macro conditions, including a multi-year rally in gold prices driving strong demand for Chrysos’ services, with PhotonAssay samples increasing 75% in the fourth quarter of 2025 and continued strength into the first quarter of 2026 according to the bank’s real-time activity tracker.
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