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Kenorland Minerals ( (TSE:KLD) ) has shared an update.
Kenorland Minerals Ltd. announced the completion of Sumitomo Metal Mining Canada Ltd. and Centerra Gold Inc.’s exercise of their ‘top-up right’ to maintain their respective 10.1% and 9.9% interests in the company. This transaction involved the issuance of 51,805 common shares at $2.028 per share, amounting to $105,060.54, and was conducted under exemptions from certain regulatory requirements due to the transaction’s value relative to Kenorland’s market capitalization. The move underscores the continued strategic partnerships and shareholder confidence in Kenorland’s exploration endeavors.
The most recent analyst rating on (TSE:KLD) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Kenorland Minerals stock, see the TSE:KLD Stock Forecast page.
Spark’s Take on TSE:KLD Stock
According to Spark, TipRanks’ AI Analyst, TSE:KLD is a Neutral.
Kenorland Minerals’ overall stock score is primarily impacted by its financial performance challenges, including declining revenue and profitability. The technical analysis suggests moderate positive momentum, but the valuation is concerning due to a negative P/E ratio and lack of dividend yield. These factors combined result in a below-average stock score.
To see Spark’s full report on TSE:KLD stock, click here.
More about Kenorland Minerals
Kenorland Minerals Ltd. is a well-financed mineral exploration company focused on project generation and early-stage exploration in North America. The company advances greenfields projects through systematic, property-wide, phased exploration surveys, primarily financed through exploration partnerships, including option to joint venture agreements. Kenorland holds a 4% net smelter return royalty on the Frotet Project in Quebec, which hosts the Regnault gold system, a greenfields discovery made in collaboration with Sumitomo Metal Mining Canada Ltd.
Average Trading Volume: 56,042
Technical Sentiment Signal: Buy
Current Market Cap: C$170.9M
See more data about KLD stock on TipRanks’ Stock Analysis page.