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H.C. Wainwright Sticks to Its Buy Rating for Golden Queen Mining (GQMNF)


According to The Fly, h.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Golden Queen Mining (GQMNF) today. The company’s shares closed yesterday at $0.11, close to its 52-week low of $0.10.

Ihle wrote:

“We also highlight that lower mining costs and a higher production profile resulted in a slightly improved $1.2 million loss from mine operations in 3Q18, compared to an $1.8 million loss in 3Q17. That said, a $1.0 million YoY decline in the gain on derivatives contracts contributed to the slight YoY decline in attributable earnings. We view the firm’s results as encouraging, since the company was able to report higher revenue amid an improved loss from mine operations despite the significant decline in metals prices. We highlight that operations have continued to improve, which we believe should position the firm well to generate improved earnings and cash flow once metals prices rebound.”

According to TipRanks.com, Ihle has 0 stars on 0-5 star ranking scale with an average return of -10.9% and a 22.8% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.

The the analyst consensus on Golden Queen Mining is currently a Moderate Buy rating.

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Based on Golden Queen Mining’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $632K. In comparison, last year the company had a GAAP net loss of $1.89 million.

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Golden Queen Mining Co. Ltd. is engages in acquiring and maintaining gold and silver mining properties for exploration, future development and production. It focuses on gold and silver deposits of Soledad Mountain project, located in southern California. Golden Queen Mining was founded on November 21, 1985 and is headquartered in Vancouver, Canada.