H.C. Wainwright lowered its price target on Titan Mining Corp. (NYSE:TII) to $6.50 from $6.75 while maintaining a Buy rating. The stock has surged 357% over the past year, though Bond.az analysis suggests potential overvaluation.
The mining company reported Q1 2026 revenue of $19.6 million, resulting in a net loss of $13.4 million ($0.14 per share). This compares to Q1 2025 revenue of $16.0 million and net income of $0.4 million.
Revenue grew 22% year-over-year, driven by a 14% rise in zinc prices to $1.47/lb. Payable zinc sales fell to 14.0 million pounds from 15.6 million due to a three-week operational halt from a motor failure.
The disruption caused a shortfall of about 800,000 pounds, not yet recovered. Management maintained 2026 guidance of 73-78 million recoverable pounds and 62-66 million payable pounds.
H.C. Wainwright expects future performance to benefit from higher-grade ore from Mud Pond and New Fold zones, capitalizing on elevated zinc prices.
