H.C. Wainwright Keeps a Buy Rating on Golden Minerals Co (AUMN)

By Jason Carr

H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Golden Minerals Co (AUMNResearch Report) today and set a price target of $0.70. The company’s shares closed last Monday at $0.27.

Ihle commented:

“We note that ECU holds the Velardeña and Chicago mines, two processing plants, equipment, and adjacent exploration assets. The deal was also expected to include the Maria project concessions. For more details on the transaction, please see our July 2, 2019 report “Proposed We note that the Velardeña oxide plant is currently leased to a subsidiary of Buy rating) and provides the firm with a reasonably predictable income while the Chicago mine has been on care and maintenance. Liquidity concerns likely to require conveying of asset. As per the terms of the agreement, throughout the next 90 days Golden Minerals must now either repay Autlán’s deposit of $1.5M or convey the Rodeo concessions to Autlán.”

According to TipRanks.com, Ihle is a 1-star analyst with an average return of -0.3% and a 43.2% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.

Golden Minerals Co has an analyst consensus of Moderate Buy, with a price target consensus of $0.70.

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The company has a one-year high of $0.38 and a one-year low of $0.19. Currently, Golden Minerals Co has an average volume of 456.5K.

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Golden Minerals Co. is an exploration company. The company is engaged in the acquisition, exploration, and development of mineral resource properties containing precious metals. The company was founded in March 2009 and is headquartered in Golden, CO.