Out of Siemens Energy? Into CTS Eventim and Power Metallic Mines?

Power Metallic Mines: Analysts See More Than 200% Upside Potential

Copper held up remarkably well during last week's stock market turmoil. The price is only just below its record high. There are good reasons for this relative strength. The global expansion of electricity grids, the electrification of industry and the boom in AI data centres are driving demand for the industrial metal higher. At the same time, supply can only be expanded slowly. Structural conditions therefore continue to support a high copper price. One beneficiary is Power Metallic Mines. The company is developing a multi-metal project in Canada with world-class potential. 

Most recently, analysts at GBC Research reaffirmed their Buy recommendation for Power Metallic Mines shares. They consider a price of CAD 3.00 (EUR 1.86) justified. Power Metallic Mines shares are currently trading at around EUR 0.60. This is based in particular on the resource estimate for the high-grade Lion deposit. The MRE comprises 4.145 million tonnes of indicated resources with a copper equivalent grade of 3.86% and 0.601 million tonnes of inferred resources grading 4.01%. In total, this corresponds to around 406 million pounds of copper equivalent. About 87% of the resources are classified in the higher “Indicated” category, while 61% lie within an open-pit model. Such a mine could be developed relatively quickly and at low cost.

In the analysts' view, further resource growth could provide additional share price catalysts. The current estimate only takes into account drilling up to April 19, 2026. Since then, Power Metallic has reported further promising results. These include a 5.70 m interval grading 14% recovery-adjusted copper equivalent at around 800 m depth. This suggests that the mineralisation could extend significantly below the existing resource boundaries. The company hopes to gain further insights from results expected in late October.

GBC also views the metallurgical test work conducted to date positively. Laboratory tests achieved copper recoveries of over 98% and concentrates with copper grades of more than 25%. The palladium and platinum results were also promising.

CTS Eventim: Bottoming Process Complete?

The past few months have been unfamiliar territory for CTS Eventim shareholders, who are accustomed to success. From an all-time high of EUR 108 in May 2025, the share price plummeted to EUR 50. More recently, the sell-off has eased, and the shares are working towards forming a bottom. Over the past two weeks, shares in the European ticketing market leader have jumped, trading above EUR 60 again. This could mark the formation of a new uptrend.

Analysts remain divided on where the shares are heading. Most recently, JPMorgan expressed a positive view. They regard CTS Eventim's venue strategy as the right one. This is because demand for events exceeds the supply of potential venues. The analysts therefore rate Eventim shares a Buy, with a price target of EUR 95.

Goldman Sachs had previously expressed a more cautious view. In an initiation report, the analysts rate CTS Eventim as Neutral. They see the shares' fair value at EUR 68, only around 10% above the current level. While the valuation is currently attractive, the company must dispel doubts about its growth prospects and margin development and thereby regain investor confidence. November 12 should therefore be interesting, as CTS will then report third-quarter developments.

Siemens Energy: Is a 30% Correction Still Not Enough?

Siemens Energy will publish its fourth-quarter figures on November 11. Analysts at mwb research expect a strong finish to the 2025/26 financial year. For the reporting period, they anticipate a 30% increase in revenue to around EUR 13.5 billion. At the same time, economies of scale are expected to improve profitability significantly. For the full year, analysts expect Siemens Energy to report revenue growth in the middle of the company's guidance range of 14% to 16%. The operating margin is likely to be at the upper end of the forecast range of 10% to 12%. 

In mwb's view, the long-term growth prospects remain fundamentally positive. The AI boom is driving the construction of new data centres and, in turn, demand for gas turbines. At the same time, electrification and grid expansion are driving additional investment. The order backlog of EUR 162 billion at the end of the third quarter is more than three times annual revenue and provides strong visibility for the coming years. Analysts expect the strong business performance to continue until at least 2030. However, they warn that the extraordinary demand boom is unlikely to last indefinitely. It is precisely this fear that has dragged the shares down step by step in recent months.

Despite the positive operating outlook and lower share price, mwb research maintains its Sell recommendation. Analysts continue to view the valuation as too ambitious. If scepticism about the billions being invested in AI increases further, the hitherto excessive stock market euphoria could turn into equally excessive pessimism. Their price target for Siemens Energy shares is EUR 100.

Conclusion

Fear of the AI bubble bursting has hit Siemens Energy shares. This is offset by a bulging order book. With its Sell recommendation, mwb stands pretty much alone. New mines appear to be urgently needed for copper. Power Metallic Mines is developing what is likely one of the world's most exciting projects in this area. In GBC's view, the stock is a clear Buy. For CTS Eventim, the upcoming quarterly results and outlook will be important. If the company can regain lost trust, the shares should return to an upward trend.