Koryx Copper Maintained at Buy at Stifel Canada Following Haib Copper Project Update; Price Target Kept at C$4.50
Stifel Canada on Thursday maintained its buy rating on the shares of Koryx Copper (KRY.V) and its C$4.50 price target after the company released an update on work at its Haib Copper Project in Namibia."Recent metallurgical optimization work continues to improve the Haib development case ahead of the planned 4Q26 PFS. Ore sorting and coarse particle flotation test work supports higher feed grades, increased throughput and a simplified flowsheet, which will likely result in a value-accretive PFS by year-end 2026. These initiatives support our view that Haib has the potential to produce ~120ktpa copper production during the first 10 years and have a mine life exceeding 30 years. Koryx currently trades at 0.25x spot P/NAV vs peers at 0.31x," analyst Cole McGill wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $3.42, Change: $+0.04, Percent Change: +1.18%
