CLSA Forecasts Multi-Year Growth for Atlas Mining

CLSA has initiated coverage of Atlas Mining Corp., citing its potential for multi-year growth due to mine expansion and increased production. The brokerage set a target price of P46, implying an upside of about 238 percent from Tuesday's closing price.

The analyst believes that Atlas will double its output over the next three years, driven by its stripping and pit widening plan on track for completion by third quarter of 2026.

Atlas is also well-positioned to benefit from a sustained long-term copper price rally, with total reserves sufficient for 26 more years. The company's revenue relies heavily on copper, which accounts for 86 percent of its revenue.