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Investing.com - H.C. Wainwright raised its price target on American Silver Corp. (NYSE:USAS) to $1.30 from $1.00 on Thursday, while maintaining a Buy rating on the stock. The company’s shares, currently trading at $0.92, have delivered an impressive 266% return over the past year and are trading near their 52-week high of $0.96. According to InvestingPro analysis, the stock appears fairly valued at current levels.
The price target increase follows a site visit to the company’s Galena mine near Wallace, Idaho, which H.C. Wainwright conducted earlier this week.
The visit began with a management presentation in Wallace on Monday, July 7, followed by a tour of Galena’s underground operations the next day, which required just a brief 10-minute drive from Wallace to the mine site.
During the afternoon portion of the Tuesday visit, H.C. Wainwright representatives toured the mill and other surface operations at the Galena mine before traveling approximately 90 minutes to Spokane, Washington.
The site visit concluded with a management dinner in Spokane, after which H.C. Wainwright reaffirmed its Buy rating on American Silver stock while implementing the 30% increase in its price target.
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