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  5. ARIS: Hello Peter / 5i Team, NDM has been on quite a run lately. [Aris Mining Corporation]

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Q: Hello Peter / 5i Team,

NDM has been on quite a run lately. I previously held this name back in 2016 for a short-term trade, during a time when there was renewed optimism around exploration and the potential development of the Pebble Project.

I’d appreciate hearing your current insights and outlook on NDM. How do you view its valuation and broader expectations moving forward? I understand that some of the recent movement may be linked to the “Trump trade” narrative—do you see any real merit to this as a viable trade or longer-term hold? Do you have any updated price targets?

Also, are there any other names in this space that you currently prefer?

Thanks in advance.
Asked by Stefano on June 23, 2025
5i Research Answer:
NDM has more than doubled this year. The company sits on the world's largest undeveloped copper...
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