Shares of Aura Minerals Inc. (AUGO) surged 5.52% in pre-market trading on Monday, following a bullish initiation from Goldman Sachs. The prestigious investment bank started coverage of the mining company with a Buy rating, sparking investor enthusiasm and driving the stock higher.
Goldman Sachs not only recommended buying Aura Minerals shares but also set an ambitious price target of $46.60. This target represents a substantial 26% upside potential from the stock's previous closing price, further fueling the pre-market rally.
The positive analyst coverage comes at a time when investors are seeking opportunities in the mining sector. Aura Minerals, with its diverse portfolio of gold and copper assets, appears to have caught the attention of one of Wall Street's most influential firms. As trading opens for the week, all eyes will be on AUGO to see if the pre-market gains can be sustained and if the stock can make progress towards Goldman's bullish price target.
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