H.C. Wainwright Trims American Silver Price Target Amid Dilution Concerns

H.C. Wainwright has revised its price target for American Silver Corp. (NYSE:USAS) to $9.25 from $9.75, while maintaining a Buy rating on the stock.

The firm attributed this change to additional dilution during the quarter at a price below net asset value per share.

American Silver recorded $46.3 million in revenue for the second quarter, resulting in a net loss of $5.0 million or $0.02 per share.

The company completed Phase 2 of its No. 3 Shaft modernization project during the quarter, increasing hoisting throughput by approximately 150% at a cost of around $1.1 million.