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Evolution Mining (EVN) $4.40

EVN surged 9.7% yesterday following its earnings accretive deal to acquire copper-gold mine Ernest Henry for $1bn from Glencore (GLEN LN). The deal will significantly push up EVN’s copper production for at least 10-years while positioning the stock as an excellent low cost gold producer moving forward. MM is bullish the Gold Sector and when we combine this macro view with the attractive new deal for EVN we see plenty of upside for this $1.8bn miner.

EVN
MM is bullish EVN looking for 20-25% upside
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Evolution Mining (EVN)
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