H.C. Wainwright Reiterates a Buy Rating on Sierra Metals Inc

By Ryan Adsit

H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Sierra Metals Inc (NYSE MKT: SMTS) today and set a price target of $4.25. The company’s shares closed yesterday at $2.76.

Ihle commented:

“We note that drilling discovered the Cieneguita Zone, which is an extension of the Bolívar Northwest structure.”

According to TipRanks.com, Ihle is a 4-star analyst with an average return of 7.8% and a 47.6% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.

Currently, the analyst consensus on Sierra Metals Inc is Strong Buy and the average price target is $4.33, representing a 56.9% upside.

In a report issued on May 23, Noble Financial also assigned a Buy rating to the stock with a $4.50 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 net profit of $2.56 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.