H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Americas Silver Corporation (USAS) today and set a price target of $3.50. The company’s shares closed yesterday at $2.89, close to its 52-week high of $3.16.
Ihle commented:
“We note that management has maintained its guidance of 1.6 – 2.0M oz of silver and 6.6 – 7.0M SEOs. Given the operational shift at Galena, we have lowered our production estimate to 1.8M SEOs from 2.4M SEOs. We also anticipate 5.1M for total consolidated production of 6.9M SEOs (prior: 7.8M SEOs). We highlight that our revised figure is firmly in-line with management’s guidance. We do expect a strong 2H19 for Americas Silver, in part due to operational improvements such as expanded throughput from San Rafael.”
According to TipRanks.com, Ihle is a 5-star analyst with an average return of 7.0% and a 56.8% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Golden Star Resources Ltd, Northern Dynasty Minerals, and Paringa Resources Limited.
Americas Silver Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $3.50.
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Based on Americas Silver Corporation’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.81 million. In comparison, last year the company had a net profit of $1.39 million.
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