Prime Mining initiated with an Outperform at BMO Capital

BMO Capital initiated coverage of Prime Mining with an Outperform rating and C$2.75 price target. Prime has a sizable gold resource base and indicated resources within Los Reyes, the analyst tells investors in a research note. The firm believes exploration and infill drilling will expand the resource base further, driving the company’s net asset value higher, and that the stock will experience multiple expansion as its project advances toward production.