BofA Global Research initiates coverage on Aura Minerals; shares rise

** Shares of gold miner Aura Minerals AUGO.O rise ~7% to $34.19, after BofA Global Research initiates coverage with "buy" rating and price target of $40

** The new price target represents a 25.1% upside to the stock's last close

** Brokerage says AUGO leads peers in gold production growth, and is in the lower half of the all-in sustaining cost curve

** Brokerage expects co's gold production to grow by 86% through 2027 driven by the ramp-up of its Borborema mine, the construction of its Matupa project, plus the soon to close acquisition of the Mineracao Serra Grande

** Adds the company has a solid balance sheet, is more diversified than peers, and has a meaningful mineral reserve life

** "It also has a strong record of meeting operating guidance and delivering projects on-time and on-budget," - BofA

** Including session's move, AUGO up 183.3% YTD