Globe says Arizona Metals maintained at “buy”

Jul 4, 2025

2025-07-04 07:06 ET – In the News

The Globe and Mail reports in its Friday, July 4, edition that Stifel analyst Cole MacGill continues to rate Arizona Metals “buy.” The Globe’s David Leeder writes in the Eye On Equities column that Mr. MacGill slashed his share target by $3.50 to $2.50. Analysts on average target the shares at $2.31. Mr. MacGill says in a note: “Headline maiden Mineral Resource Estimate for Kay has come in at a skinny 10.1MMt [million tons] at 3.1-per-cent CuEq for just shy of 700MMlbs CuEq [copper equivalent]; 93 per cent of tonnage is in the indicated category. This number is well shy of street estimates (15-20MMt) and will come likely as a disappointment to investors given the four-pus years and 133km drilled on the project post the historic, non NI 43-101 6MMt @ 5-6-per-cent CuEq Exxon resource. That said, post reset, we think stock is approaching the ‘too cheap to ignore territory’ ($0.12/lb CuEq, ie comps VMS asset in situ + no value for Sugarloaf); and would intimate post reset, we see a dual track derisk (PEA plus further met work by year end) and drill (with only 7-per-cent inferred, much of the forward drill budget can go towards exploration) thesis, while firmly in the ‘show me camp.'”

https://arizonametalscorp.com/