Golden Minerals: Santa Maria Drill Results Are Encouraging, Says Roth Capital
Roth Capital analyst Joe Reagor reiterated a Buy rating on Golden Minerals (NYSE:AUMN) with a price target of $1.15, which represents a potential upside of 134% from where the stock is currently trading.
Reagor observed, “On November 4, 2014 AUMN announced drilling results at its recently acquired Santa Maria project. We view these drill results as encouraging and anticipate AUMN continuing to focus on Santa Maria as a second potential mine.” The analyst added, “We have made no changes to our model as a result of today’s press release. However, we note AUMN continues to trade at a small premium to cash despite having a significant amount of equipment that could be sold to reach a valuation above its current market value.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joe Reagor has a total average return of -20.2% and a 11.8% success rate. Reagor has a 51.6% average return when recommending AUMN, and is ranked #3345 out of 3362 analysts.