Noble Financial analyst Mark Reichman maintained a Buy rating on Sierra Metals Inc (NYSE MKT: SMTS) yesterday and set a price target of $4.50. The company’s shares closed yesterday at $2.57.
According to TipRanks.com, Reichman is a 1-star analyst with an average return of -6.7% and a 11.1% success rate. Reichman covers the Basic Materials sector, focusing on stocks such as Endeavour Silver Corp, Great Panther Silver, and Avino Silver & Gold.
Currently, the analyst consensus on Sierra Metals Inc is a Strong Buy with an average price target of $4.33, which is a 68.5% upside from current levels. In a report issued on June 28, H.C. Wainwright also reiterated a Buy rating on the stock with a $4.25 price target.
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Based on Sierra Metals Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $8.7 million. In comparison, last year the company had a GAAP net loss of $2.8 million.
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Sierra Metals, Inc. engages in the production, exploration, and development of precious and base metals. It operates through the Peru and Mexico geographical segments. The Peru segment consists of Yauricocha Mine. The Mexico segment conssits of Bolivar and Cusi Mines. The company was founded on April 11, 1996 and is headquartered in Toronto, Canada.
