H.C. Wainwright Thinks Golden Minerals Co’s Stock is Going to Recover


In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Golden Minerals Co (NYSE: AUMN), with a price target of $0.80. The company’s shares closed yesterday at $0.26, close to its 52-week low of $0.21.

Ihle observed:

“We highlight that life of mine (LOM) average silver grades are expected to average 409 g/t, while recoveries are estimated to average about 90%. The PEA also assumes average annual production of about 4.8 million ounces of silver which is based on a 1,200 tpd production rate. In our opinion, the project’s high silver grades contribute to the low per ounce operating costs, which we note are estimated to total $5.77 per ounce of silver recovered over the project’s mine life.”

According to TipRanks.com, Ihle is a 1-star analyst with an average return of -0.7% and a 31.6% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Americas Silver Corporation, Golden Star Resources Ltd, and Northern Dynasty Minerals.

Currently, the analyst consensus on Golden Minerals Co is a Moderate Buy with an average price target of $0.80.

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Based on Golden Minerals Co’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $1.69 million. In comparison, last year the company had a GAAP net loss of $35K.

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Golden Minerals Co. engages in the acquisition, exploration, and development of mineral resource properties. It operates through the following segments: Velardeña Properties, and Corporate, Exploration & Other segments. Its portfolio includes Velardeña and E Quevar projects. The company was founded in March 2009 and is headquartered in Golden, CO.

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