Boliden's shares saw a 2.5% increase on Tuesday after UBS upgraded its recommendation from sell to neutral.
UBS also adjusted the target price for the mining company from SEK 300 to SEK 310, reflecting a reevaluation of Boliden's future prospects.
UBS emphasized the strategic importance of Boliden's acquisition of Lundin Mining's European assets, including the Zinkgruvan mine in Sweden and the Neves-Corvo mine in Portugal.
The transaction is expected to enhance earnings and create synergies with Boliden's existing operations.
The deal is set to close in mid-2025, further strengthening Boliden's position in the mining sector.