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Investing.com - RBC Capital has initiated coverage on Patriot Battery Metals Inc. (TSXV:PMET) with an Outperform rating and a price target of AUD4.70.
The investment bank cited PMET’s Tier 1 lithium resource scale, strategic original equipment manufacturer (OEM) alignment, and leverage to the build-out of a North American battery supply chain as key factors supporting its positive outlook.
RBC Capital analyst Kaan Peker noted that the recent Feasibility Study provides a conservative base case anchored on the CV5 deposit, while highlighting several potential catalysts ahead.
These catalysts include upcoming approvals, by-product opportunities, deposit integration, and funding clarity that could lead to multiple re-rating opportunities for the stock.
The firm recommends investors accumulate the stock ahead of resource updates expected in the first half of 2026 and upcoming technical studies.
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