Maxim initiated coverage of Blue Moon Metals with a Buy rating and $15 price target. The company's Springer mine and processing mill in Nevada will create a new U.S. supply of tungsten, a metal that defense and industrial companies use for strengthening ammunition, armor, and steel, the analyst tells investors in a research note. In addition to restarting tungsten production, Maxim expects Blue Moon to generate revenue in 2028 from a mine in Norway producing copper along with gold and silver, the firm added.
