In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Imperial Metals (TSX: III). Analyst Oscar Cabrera from CIBC remains bearish on the stock and has a C$0.90 price target.
Cabrera has an average return of 59.1% when recommending Imperial Metals.
According to TipRanks.com, Cabrera is ranked #4211 out of 4850 analysts.
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The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Imperial Metals with a C$1.69 average price target, a 70.7% upside from current levels. In a report issued on August 14, Canaccord Genuity also reiterated a Sell rating on the stock with a C$0.90 price target.
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Based on Imperial Metals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$36.56 million. In comparison, last year the company had a net profit of C$64.08 million.
Imperial Metals Corp. engages in the acquisition, exploration, development, mining and production of base and precious metals from its mineral properties. It operates its business through the following segments: Red Chris, Mount Polley, Sterling, Huckleberry, and Corporate.
The company’s shares closed on Wednesday at C$0.99, close to its 52-week low of C$0.93.
