Mineros SA, the Basic Materials sector company, was revisited by a Wall Street analyst on August 13. Analyst Ben Pirie from Atrium Research maintained a Buy rating on the stock and has a C$4.00 price target.
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Ben Pirie’s rating is based on Mineros SA’s impressive financial performance in the second quarter, which exceeded expectations. The company reported a significant increase in revenue, reaching $182.4 million, which is a 37% year-over-year growth and well above the estimated $148.8 million. This growth was largely driven by the increased gold prices, which positively impacted the company’s financials.
Additionally, Mineros SA demonstrated strong operational cash flow and maintained healthy margins despite revising its cost guidance upward. The company’s gross profit and adjusted EBITDA also surpassed forecasts, highlighting its efficient operations and profitability. With a solid cash position and manageable debt levels, Mineros SA is well-positioned for future growth, justifying the Buy rating and the target price of C$4.00 per share.