Atlas Mining Set for Multi-Year Growth Cycle: CLSA
CLSA has initiated coverage of Atlas Mining Corp., predicting the company will enter a multi-year growth cycle. The brokerage believes Atlas's output will double over the next three years as mine expansion unlocks higher production.
The report, penned by analyst Amos Ong, sets a target price of P46 for Atlas, implying an upside of about 238 percent from Tuesday's closing price. CLSA expects Atlas to return to profitability in 2026 and drive strong earnings growth through 2028 as the mine gains access to higher-grade ore.
Atlas has emerged as one of the Philippine market's standout mining stocks, with shares up about 150 percent since the start of 2026 and more than 300 percent over the past 12 months. The company operates the Toledo copper mine in Cebu through subsidiary Carmen Copper Corp., producing copper and gold for domestic and export markets.