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Marimaca Copper Price Target Raised to $11 from $7.50 by National Bank of Canada

BY MT Newswires | ECONOMIC | 07/04/25 08:07 AM EDT

08:07 AM EDT, 07/04/2025 (MT Newswires) -- Marimaca Copper (MARIF) had its price target increased to $11 from $7.50 while its Outperform rating remained unchanged at National Bank of Canada.

The bank in a note on Thursday said the rating is supported by Marimaca's expected peer-leading capital intensity for the Marimaca oxide deposit in Chile, as well as further exploration upside potential over the coming quarters.

The target price was based on an increased NAV/sh multiple of 0.85x from 0.75x, with the multiple expansion driven by the enhanced optionality at the Pampa Medina project located 28 kilometers from the Marimaca deposit. The bank also considered the company's recent share price rally.

Marimaca recently reported drill results from Pampa Medina, which showcased strong extensions into high-grade sulfides as well as large step-outs from the previous oxide mineralization outline, the bank said.

Marimaca's share price jumped 25% on Thursday to $9.09 on the TSX.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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