Thursday, September 17, 2026
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
George Proost, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
A large copper resource with room to grow. We have initiated coverage of Kodiak Copper Corp. with an Outperform rating and a price target of C$2.10, or approximately US$1.50 per share. Kodiak’s 100%-owned MPD Copper-Gold Project in southern British Columbia contains 439.2 million tonnes of Indicated and Inferred Resources across seven deposits, all open to expansion. Resource growth and improved project definition could support a higher valuation against a favorable long-term outlook for copper.
Ketchan drilling supports higher-grade potential. Hole AG-26-019 returned 283.5 meters at 0.70% copper equivalent (CuEq) from 37.5 meters downhole, including 108 meters at 1.02% CuEq. The result highlights shallow mineralization that could improve the grade and confidence of the existing resource.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
