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An announcement from Firm Cap Mortgage Invest ( (TSE:FC) ) is now available.
Firm Capital Mortgage Investment Corporation announced the partial exercise of an over-allotment option by underwriters, resulting in the issuance of an additional $3,150,000 in convertible unsecured subordinated debentures. This brings the total to $28,150,000, with proceeds intended to repay indebtedness. The debentures are listed on the Toronto Stock Exchange, and the move is expected to strengthen the company’s financial position and provide stability to its stakeholders.
The most recent analyst rating on (TSE:FC) stock is a Buy with a C$13.00 price target. To see the full list of analyst forecasts on Firm Cap Mortgage Invest stock, see the TSE:FC Stock Forecast page.
Spark’s Take on TSE:FC Stock
According to Spark, TipRanks’ AI Analyst, TSE:FC is a Neutral.
Firm Cap Mortgage Invest has a strong financial foundation and attractive valuation, bolstered by positive corporate events. However, cash flow challenges and short-term technical caution weigh on the overall score. Addressing cash flow inefficiencies is crucial for maintaining stability and supporting future growth.
To see Spark’s full report on TSE:FC stock, click here.
More about Firm Cap Mortgage Invest
Firm Capital Mortgage Investment Corporation is an investor in mortgages through Firm Capital Corporation, a non-bank lender that provides residential home and commercial short-term bridge and conventional real estate financing. The company focuses on niche markets underserved by large lending institutions, aiming to preserve shareholder equity while providing stable monthly dividends through a diversified mortgage portfolio.
Average Trading Volume: 47,268
Technical Sentiment Signal: Buy
Current Market Cap: C$438.3M
For an in-depth examination of FC stock, go to TipRanks’ Overview page.