Analyst Actions: Credit Suisse Initiates Coverage of Imperial Metals Corp With Sector Outperformer, $36 Price Target
Imperial Metals Corp.'s (III.TO) Red Chris copper-gold project in British Columbia has secured all permits to come onstream as a 30,000 tonne-per-day operation at the end of 2013, the Globe and Mail reported. But CIBC World Markets Inc. analyst Ian Parkinson reportedly sees potential for an expansion because of recently discover high-grade resources. "We believe investors are buying the operating assets and Red Chris as permitted, but receiving a likely expansion plus development assets for free," he is cited as saying in a Globe and Mail report.
Parkinson initiated coverage of Imperial Metals with a Sector Outperformer rating and $36 price target.
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