HC Wainwright reiterated their buy rating on shares of Sierra Metals (NYSEAMERICAN:SMTS) in a research note released on Monday, April 1st, AnalystRatings.com reports. They currently have a $4.25 price objective on the stock.
“We note that for the year copper prices increased by 5%, while gold prices remained flat. The significant increase in net income was mostly due to a $4.4 million non-cash loss on the distribution of not rated) assets during FY17, as well as a lower non-cash depletion charge in Peru ($10.5 million in FY18 vs. $31.5 million in FY17). The YoY decrease in the non-cash depletion charge was the result of a 134% increase to proven and probable reserves in Sierra’s NI 43-101 that was published during October 2017. We expect Sierra to build upon the solid financial results in FY18 as production is anticipated to grow next year. Successful exploration yields strong results. Sierra continues to aggressively pursue exploration activities at each of its three mines to support future production growth.”,” the firm’s analyst wrote.
A number of other analysts have also recently weighed in on SMTS. Noble Financial reaffirmed a buy rating on shares of Sierra Metals in a research report on Friday, January 25th. Zacks Investment Research upgraded Sierra Metals from a sell rating to a hold rating in a research note on Wednesday, January 30th.
Sierra Metals (NYSEAMERICAN:SMTS) last released its quarterly earnings data on Thursday, March 28th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $55.02 million during the quarter, compared to analysts’ expectations of $52.47 million.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Arias Resource Capital GP Ltd. boosted its holdings in shares of Sierra Metals by 0.3% in the 4th quarter. Arias Resource Capital GP Ltd. now owns 84,685,558 shares of the company’s stock worth $150,282,000 after acquiring an additional 252,485 shares in the last quarter. West Family Investments Inc. lifted its holdings in Sierra Metals by 20.2% during the 4th quarter. West Family Investments Inc. now owns 1,932,029 shares of the company’s stock worth $3,410,000 after buying an additional 325,085 shares in the last quarter. Finally, ETF Managers Group LLC lifted its holdings in Sierra Metals by 18.3% during the 4th quarter. ETF Managers Group LLC now owns 346,230 shares of the company’s stock worth $614,000 after buying an additional 53,510 shares in the last quarter.
About Sierra Metals
Sierra Metals Inc engages in the production, exploration, and development of precious and base metals in Peru and Mexico. It primarily focuses on exploration of silver, copper, lead, zinc, and gold deposits. The company holds 81.84% interest in the polymetallic Yauricocha Mine located in the Yauyos province in Peru.
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