UBS analyst Daniel Major initiated coverage of Ivanhoe Mines with a Buy rating and C$24 price target. The analyst remains constructive on the fundamental outlook for copper and says Ivanhoe is one of the few large cap global copper miners that offer near- term organic growth and medium-term upside potential from exploration and project development. The development of Kamoa-Kakula has been one of the most successful projects in mining, the analyst tells investors in a research note.
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