Canaccord Genuity Reiterates a 'Buy' on Horsehead Holding (ZINC); Think ZINC
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Price: $26.58 -0.37%
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Horsehead Holding (NASDAQ: ZINC) price target of $13.50.
Canaccord analyst, Eric Prouty, said, "LME zinc prices have averaged more than $1.00/lb. so far in Q3, creating possible upside to our Q3 estimates if zinc prices remain near current levels...Despite gloom-and-doom economic headlines, LME zinc prices have remained fairly robust so far in Q3, averaging approximately $1.05/lb."
"Highly attractive projected IRR. Horsehead has specified that the projected IRR from this project, which will cost an estimated $350-375M, would be 45-50%. That estimate assumes the facility delivers the estimated $90-$110M in incremental annual EBITDA."
For more ratings news on Horsehead Holding click here and for the rating history of Horsehead Holding click here.
Shares of Horsehead Holding closed at $9.57 yesterday.
Canaccord analyst, Eric Prouty, said, "LME zinc prices have averaged more than $1.00/lb. so far in Q3, creating possible upside to our Q3 estimates if zinc prices remain near current levels...Despite gloom-and-doom economic headlines, LME zinc prices have remained fairly robust so far in Q3, averaging approximately $1.05/lb."
"Highly attractive projected IRR. Horsehead has specified that the projected IRR from this project, which will cost an estimated $350-375M, would be 45-50%. That estimate assumes the facility delivers the estimated $90-$110M in incremental annual EBITDA."
For more ratings news on Horsehead Holding click here and for the rating history of Horsehead Holding click here.
Shares of Horsehead Holding closed at $9.57 yesterday.
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