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National Bank initiated coverage of McEwen Mining (MUX) with an Outperform rating and C$20 price target The company’s Los Azules copper mega-project shows mega-rerate potential, though the stock’s The valuation disparity is largely explained by the Los Azules project stage, time until start of development, financing and construction de-risking, and the constraints faced by a junior to clear these value impediments, the analyst tells investors in a research note.

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Disclaimer & DisclosureReport an Issue

• McEwen Mining’s Earnings Call: Growth Amid Challenges

• McEwen Mining price target lowered to $12.50 from $13 at Roth MKM

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