NGEx Minerals initiated with an Outperform at National Bank

National Bank analyst Rabi Nizami initiated coverage of NGEx Minerals (NGXXF) with an Outperform rating and C$17 price target The company is focused on exploration of the Vicuna District – a “rapidly emerging world-class” mining region that hosts some of the largest copper-gold discoveries in the Andes, the analyst tells investors in a research note. The Lunahuasi and Los Helados are now the most advanced developer-owned projects in the district, and the firm contends that both are inevitable M&A targets that should be evaluated in context of their fit into the Vicuna District infrastructure framework, National Bank added.