The Globe and Mail reports in its Thursday, Oct. 17, edition that following the release of an updated mineral resource estimate (MRE) for Prime Mining's Los Reyes gold-silver project in Sinaloa, Mexico, after the bell on Tuesday, Eight Capital analyst Felix Shafigullin raised his share target to $3.90 from $3.80 with a "buy" ranking. Meanwhile, BMO Capital analyst Brian Quast bumped his share target to $4.50 from $4.25 with an "outperform" rating. Analysts on average target the shares at $4.12. Mr. Quast says in a note: "The Los Reyes project continues to have considerable exploration upside potential as mineralization remains open along strike and at depth, with the ongoing drill program targeting high-grade mineralization along both the northwest and southeast extensions of the Z-T trend, the southeast extension of the Guadalupe and Central trends, as well as emerging generative areas. Since the July, 2024, cut-off date the company has completed an additional 9,000 metres of drilling. Additionally, it has increased the 2024 exploration program from 40,000 metres to 50,000 metres with five drill rigs currently active on site."