We have liked and held EVN since 2022, and the company rewarded our faith by delivering an excellent quarterly in January, supporting our bullish thesis on the miner. Still, after more than doubling, it is starting to look stretched, assuming gold doesn’t punch significantly higher. Also, with 30% of its revenue coming from copper, the price of the industrial metal does influence EVN, and it pushed to multi-year highs this week on tariff concerns as the ducks align for EVN – a $6-7 trading range for EVN over the coming months wouldn’t surprise MM.
- We are now initially targeting the $6.75 area for EVN: MM holds EVN in our Active Growth Portfolios.
MM is cautiously long and bullish EVN
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