At first glance it is puzzling. Queensland copper developer Cudeco has a market value of nearly $900 million and is a member of the ASX200, but not a single analyst covers the stock.

Considering the market is slow and brokers are desperate to help out with equity raisings, there are financial incentives to do so. And copper is a popular metal with few investment options – especially operators only a year or so away from first production like Cudeco.