ATEX Resources Maintained at Buy at BMO After Chile Land Acquisition; Price Target Raised to C$5.00

MT Newswires Live01-27

BMO Capital Markets ATEX Resources (ATX.V) on Monday maintained its outperform, speculative risk, on the shares of ATEX Resources while raising its price target to C$5.00 from C$4.00 after the company acquired lands adjacent to its Valeriano project in Chile.

"ATEX announced the strategic expansion of its land package adjacent to the Valeriano project. Notably, the land package includes two previously identified porphyry targets. Moreover, with the expansion, ATEX has now consolidated a district-trend with the potential for new discoveries. With ATEX ahead of schedule on its drill program, we see an opportunity to allocate resources to these new targets. We expect to get a more fulsome update on the company's plans across the expanded land package at an upcoming site visit. Target price increased to $5.00 (from $4.00)," analyst Rene Cartier wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 4.39, Change: +0.05, Percent Change: +1.15

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