UBS Upgrades Evolution Mining to Neutral Amid Positive Copper Growth Outlook

UBS upgraded Evolution Mining Ltd. to Neutral from Sell, setting a target price of AUD 12.50. The upgrade is due to an improved growth outlook from copper production at Northparkes and a recent stock price pullback. The company reported strong financial results for H1 FY2026, with earnings per share at AUD 0.40, surpassing forecasts. JPMorgan and RBC Capital also upgraded their ratings on the stock, reflecting increased confidence in Evolution Mining's financial health and future prospects.

Published Mar 29, 2026

UBS upgraded Evolution Mining Ltd. (ASX:EVN) to Neutral from Sell, with a price target of AUD 12.50. The upgrade reflects an improved growth outlook from copper production at the Northparkes mine and a recent decline in stock price.

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The company reported earnings per share of AUD 0.40 for the first half of fiscal year 2026, significantly above the expected AUD 0.19. Following this, JPMorgan raised its rating to Overweight and price target to AUD 15.50, while RBC Capital upgraded to Sector Perform. Both upgrades highlight the company's strong cash flow and diminished concerns regarding capital expenditure and funding.