The Globe and Mail reports in its Friday, Oct. 30, edition that Raymond James's Judith Elliott has reaffirmed her "outperform" call for Capstone Copper. The Globe's David Leeder writes that Ms. Elliott cut her share target to $16 from $17. Analysts on average target the shares at $17.69. Ms. Elliott says in a note: "We believe Capstone Copper is well-positioned to deliver near and medium-term copper production growth, supported by improving operations approaching the completion of Mantoverde optimized and upgrades to the Pinto Valley plant, driving stronger free cash flow generation and continued balance sheet improvement. We expect the company's strengthening balance sheet, further supported by the Cozamin sale (4Q26), provides financial flexibility to pursue its pipeline of organic growth opportunities. Notably, the Santo Domingo project has the potential to materially increase copper production and improve the consolidated cost profile into the 2030s. With further upside from the sanctioned Mantoverde Pyrite Augmentation project and longer-term expansion opportunities at Mantos Blancos and Mantoverde, we believe CS offers an attractive combination of near-term cash flow growth and longer-term production upside."
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