Genesis Minerals (ASX:GMD) is well positioned to exceed its ten-year growth plan, driven by the company's strong cash base and multiple strategic levers, according to a Jan. 17 note by Euroz Hartleys.

At current pricing, the company is expected to generate AU$10 million in free cash flow (FCF) in the current fiscal year, but with higher spot prices, FCF could surge to AU$110 million, Euroz Hartleys said.

Last week, Genesis Minerals reported record gold production for the December 2024 quarter of 57,055 ounces at an all-in-sustaining cost of AU$2,202 per ounce.

The firm expects activity at the company's Ulysses's mine to pick up substantially and sees potential for the start date of the company's Tower Hill project to advance before the projected fiscal 2028 date.

Euroz Hartleys maintained the company's buy rating but increased its price target to AU$2.90 from AU$2.80.

Shares of the mining firm rose 2% at market close.