The Globe and Mail reports in its Tuesday, Feb. 3, edition that Canaccord Genuity analyst Phil Ker commenced coverage on Luca Mining with a "speculative buy" recommendation and $4.40 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $3. Mr. Ker says in a note: "In recent years, Luca's management and operating team has successfully demonstrated a financial and operational turnaround on the heels of optimization efforts at its Campo Morado operation and commissioning of its second Mexican-based operation, Tahuehueto. With an improving balance sheet and several potential catalysts on the horizon, we anticipate Luca to execute on NAV-accretive projects that will support increasing production and cash flow in the coming years. With a P/NAV metric of 0.32 times and a discount to its peer group, we see ample upside for Luca to demonstrate and derisk operational growth drivers to support a rerate to trade more in line with its peer group average of 0.55 times." The Globe reported on Feb. 4, 2025, Mr. Ker had begun coverage on Vancouver-based Luca Mining with a "buy" recommendation and $1.50 share target. The shares could then be had for 91 cents.