The Globe and Mail reports in its Thursday, May 1, edition that National Bank Financial analyst Don DeMarco began coverage on McEwen Mining with an "outperform" recommendation, believing its flagship Los Azules copper project in San Juan, Argentina, "shows mega-rerate potential." The Globe's David Leeder writes in the Eye On Equities column that Mr. DeMarco set a share target of $20, matching the consensus. Mr. DeMarco says in a note: "McEwen Mining's attributable share of an upsized Large Investment Incentive Regime (RIGI) -- adjusted Los Azules NPV8-per-cent is $1.76-billion (46.4 per cent), marking a wide differential versus the company's current market cap of $415-million, notwithstanding additional value for McEwen's portfolio of precious metals producers. The valuation disparity is largely explained by the Los Azules project stage, time until start of development, financing and construction derisking, and the constraints faced by a junior to clear these value impediments. ... McEwen is well positioned as gold investors continue to shift downcap for overlooked opportunities, while high cost operations provide additional upside torque in current constructive previous metals tape."