Analyst Ben Pirie from Atrium Research maintained a Buy rating on Andean Precious Metals (APM – Research Report) and keeping the price target at C$3.50.
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Ben Pirie’s rating is based on Andean Precious Metals’ impressive financial performance and operational achievements. The company reported strong fourth-quarter results, with significant year-over-year growth in both gold and silver equivalent production. The Golden Queen asset showed a remarkable increase in gold equivalent production, while the San Bartolome asset demonstrated solid silver equivalent output, contributing to a substantial rise in revenue.
Moreover, Andean Precious Metals exceeded expectations in terms of adjusted EBITDA, showcasing a robust increase compared to previous estimates. The company’s financial position is further strengthened by a healthy cash reserve and manageable debt levels. These factors, combined with the company’s alignment with projected guidance for 2025, underpin Ben Pirie’s confidence in maintaining a Buy rating with a target price of C$3.50 per share.