Street Calls of the Week
Investing.com - RBC Capital initiated coverage on Atalaya Mining Plc. (LSE:ATYM) with an Outperform rating and a price target of GBP8.00.
The firm views Atalaya as "a rare pure-play copper producer in Europe" that is "well-positioned" amid expectations of a medium-term bull market due to rapidly tightening copper supply.
RBC Capital sees potential for consensus upgrades as the company’s Touro project secures permits, which the firm estimates could happen in the second quarter of 2026.
The firm also highlighted milestones at Atalaya’s flagship Riotinto asset that could pave the way for a potential doubling of production by 2030.
RBC Capital noted that Atalaya currently trades at approximately 25% discount on NAV and EV/EBITDA compared to RBC’s base metals coverage at spot prices, describing the valuation as "undemanding."
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