Scotiabank Maintains a Sell Rating on Imperial Metals

By Austin Angelo

In a new note to investors today, an analyst has provided a rating update for the Materials sector company, Imperial Metals (TSX: III). Analyst Orest Wowkodaw from Scotiabank remains bearish on the stock and has a C$5 price target.

According to TipRanks.com, Wowkodaw is a top 100 analyst with an average return of 31.9% and a 58.2% success rate. Wowkodaw covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Taseko Mines Limited, and Hudbay Minerals Inc.

Imperial Metals has an analyst consensus of Hold, with a price target consensus of C$6.90.

Based on Imperial Metals’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of C$78.13 million and GAAP net loss of C$47.06 million. In comparison, last year the company earned revenue of C$137 million and had a net profit of C$17.73 million.

Imperial Metals Corp. is a Canadian mining company, which acquires, explores, develops and produces base and precious metals from its mineral properties. It operates its business through four segments: Mount Polley, Red Chris, Huckleberry and Sterling. Its key properties are two open pit mines: Mount Polley copper or gold mine, Huckleberry copper or molybdenum mine, both in British Columbia, as well as Red Chris copper or gold property in British Columbia and Sterling gold property in Nevada. The company was founded on December 6, 2001 and is headquartered in Vancouver, Canada.

The company’s shares closed last Wednesday at $5.38.