In a report released yesterday, Kevin O’Halloran from BMO Capital maintained a Buy rating on Aya Gold & Silver (AYA – Research Report), with a price target of C$22.50.
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Kevin O’Halloran has given his Buy rating due to a combination of factors including Aya Gold & Silver’s ongoing expansion at the Zgounder mine, which is poised to significantly boost silver production starting in 2025. The company has demonstrated strong improvements in production metrics, particularly in January, where the plant operated above its nameplate capacity, signaling promising operational advancements.
Despite a slight underperformance in Q4 production figures compared to estimates, the full-year production for 2024 met revised guidance levels. Additionally, the company is targeting increased throughput rates by 2025, indicating a strategic focus on enhancing production capabilities. These factors, coupled with stable recovery rates and successful resource growth, underpin the optimistic outlook for Aya Gold & Silver’s stock.
In another report released yesterday, National Bank also maintained a Buy rating on the stock with a C$20.75 price target.