H.C. Wainwright Sticks to Their Buy Rating for First Mining Finance (FF)

By Carrie Williams

Today, an analyst has provided a rating update for the Financial sector company, First Mining Finance (FFResearch Report). H.C. Wainwright’s analyst Heiko Ihle reiterates their Buy rating on the shares, with a C$1.70 price target.

Ihle said:

“We note that drilling is anticipated to test a total strike length of up to 900 meters (M) at the Miller prospect. In short, the planned work includes 3,000 m of step-out drilling from 14 drill holes, which aim to follow up on strong results achieved in FY18. We note that FY18 drill results from Miller were not included in the FY19 mineral resource update for Goldlund. We therefore believe that FY18 drilling, amid the proposed drill program for FY19, could add meaningful resources and value to the deposit.”

According to TipRanks.com, Ihle is a 4-star analyst with an average return of 4.7% and a 48.0% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for First Mining Finance with a C$1.70 average price target.

Based on First Mining Finance’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$1.32 million. In comparison, last year the company had a GAAP net loss of C$1.3 million.

First Mining Gold Corp. operates as a mineral property holding company, which engages in acquiring mineral assets. It focuses interest on the Hope Brook, Goldlund, Springpole, Cameron, Pickle Crow, Duparquet, PITT and Duquesne Gold projects in Canada.

The company’s shares closed last Friday at C$0.28.