BMO Initiates Coverage of Hemlo Mining with Outperform Rating, C$10.00 Price Target
Idag, 17:22
11:22 AM EDT, 05/01/2026 (MT Newswires) -- BMO Capital Markets on Friday initiated coverage of Hemlo Mining (HMMC.V) with an outperform rating on the shares and C$10.00 price target.
Hemlo recently acquired 100% ownership of the Hemlo gold mine in Ontario, and is executing an optimization and expansion strategy that could grow production to over 200,000 ounces in the coming years from 143,000 ounces in 2025.
The company is expected to take advantage of unused hoisting and milling capacity, as well as an extensive reserve growth opportunity.
"At 0.7x [net asset value], we view the current valuation as attractive, and expect a re-rating as operational goals are achieved,"BMO said.
Price: 5.39, Change: +0.14, Percent Change: +2.67
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BMO Initiates Coverage of Hemlo Mining with Outperform Rating, C$10.00 Price Target
Idag, 17:22
11:22 AM EDT, 05/01/2026 (MT Newswires) -- BMO Capital Markets on Friday initiated coverage of Hemlo Mining (HMMC.V) with an outperform rating on the shares and C$10.00 price target.
Hemlo recently acquired 100% ownership of the Hemlo gold mine in Ontario, and is executing an optimization and expansion strategy that could grow production to over 200,000 ounces in the coming years from 143,000 ounces in 2025.
The company is expected to take advantage of unused hoisting and milling capacity, as well as an extensive reserve growth opportunity.
"At 0.7x [net asset value], we view the current valuation as attractive, and expect a re-rating as operational goals are achieved,"BMO said.
Price: 5.39, Change: +0.14, Percent Change: +2.67
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