H.C. Wainwright Reaffirms Their Buy Rating on Sierra Metals Inc

By Carrie Williams

In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Sierra Metals Inc (NYSE MKT: SMTS), with a price target of $4.25. The company’s shares closed yesterday at $2.70.

According to TipRanks.com, Ihle is a 4-star analyst with an average return of 8.4% and a 45.0% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Gold Standard Ventures Corp, and Americas Silver Corporation.

Currently, the analyst consensus on Sierra Metals Inc is Moderate Buy and the average price target is $4.13, representing a 53.0% upside.

In a report issued on January 16, Roth Capital also initiated coverage with a Buy rating on the stock with a $4 price target.

Based on Sierra Metals Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $50.86 million and GAAP net loss of $6.52 million. In comparison, last year the company earned revenue of $41.83 million and had a GAAP net loss of $5.08 million.

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Sierra Metals, Inc. is a mining company, which engages in the production, exploration, and development of precious and base metals. Its properties includes the following: Yauricocha mine, Bolivar mine, and Cusi mine. The company was founded on April 11, 1996 and is headquartered in Toronto, Canada.