-- Aclara Resources Inc. (ARA.TO) was upgraded to Outperform from Sector Perform at RBC Capital Markets.
Analyst Andrew D. Wong raised his price target on shares of the rare earth mining company to $6 from $3.
"We believe Aclara has a strong strategic position as Western-aligned countries are determined to reduce reliance on Chinese rare earth supply, especially for heavy rare earths (HREE)," Wong said in a note to clients.
"We see continued progress at Aclara's flagship Carina project which was recently validated by the Serra Verde acquisition (similar size, same locale, later stage, compared to Carina) that included a US government-backed offtake including price floors," the analyst said.
"Aclara also has further optionality with projects in separation, metals processing, and the Chile project that may be permitted by mid-year."