Golden Minerals (NYSEAMERICAN:AUMN) Receives “Buy” Rating from HC Wainwright
HC Wainwright reiterated their buy rating on shares of Golden Minerals (NYSEAMERICAN:AUMN) (TSE:AUM) in a research report released on Thursday, AnalystRatings.com reports. The brokerage currently has a $0.70 price objective on the basic materials company’s stock.
“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.”,” HC Wainwright’s analyst wrote.
NYSEAMERICAN:AUMN remained flat at $$0.25 during mid-day trading on Thursday. 227,056 shares of the company traded hands, compared to its average volume of 274,306. Golden Minerals has a 52-week low of $0.19 and a 52-week high of $0.38.
An institutional investor recently raised its position in Golden Minerals stock. ETF Managers Group LLC increased its stake in shares of Golden Minerals Co (NYSEAMERICAN:AUMN) (TSE:AUM) by 27.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 420,584 shares of the basic materials company’s stock after purchasing an additional 91,109 shares during the quarter. ETF Managers Group LLC owned about 0.44% of Golden Minerals worth $114,000 at the end of the most recent quarter.
Golden Minerals Company Profile
Golden Minerals Company, an exploration stage company, engages in mining, construction, and exploration of mineral properties. It explores for gold, silver, zinc, lead, and other minerals. The company owns 100% interest in the Velardeña and Chicago precious metals mining properties in the State of Durango, Mexico; and the El Quevar advanced silver exploration property in the province of Salta, Argentina.
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