COBRE LIMITED (CBE)
Share Price Analysis and Chart

23/10/2026

1

Buy

$0.50

108.33%

Canaccord Genuity maintains a Buy rating for Cobre with a $0.50 target price following the execution of an ore-purchase agreement with ENAMI to acquire 30kt per month of crushed and leached material.

The material is expected to average 0.65% copper and deliver approximately 290t of incremental production to the Cobre Atacama asset per quarter, demonstrating near-term sourcing flexibility.

Canaccord Genuity notes further production upside exists from historical heap-leach pads, which could yield an additional 17.5kt of copper inventory assuming a 70% recovery rate on residual material.

Cobre is progressing a staged expansion strategy, targeting an initial restoration of solvent extraction and electrowinning capacity to approximately 18ktpa, before expanding to approximately 25ktpa and evaluating a longer-term 50ktpa development scenario.

The analyst highlights the appointment of former Rio Tinto and Anglo American executive Phillip Mitchell as Non-Executive Chair, bringing major-company experience to support Chilean production growth and development of the Ngami project in Botswana.