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The latest announcement is out from NGEx Minerals ( (TSE:NGEX) ).
NGEx Minerals Ltd. has increased its private placement to C$175 million due to strong demand, aiming to issue 7 million common shares at C$25 each. The funds will support exploration at the Lunahuasi project in Argentina, including potential infrastructure development, and maintain operations at the Los Helados project in Chile. The Lundin Family Trusts, a major shareholder, plans to participate significantly in this private placement, which is subject to regulatory approvals.
The most recent analyst rating on (TSE:NGEX) stock is a Buy with a C$34.00 price target. To see the full list of analyst forecasts on NGEx Minerals stock, see the TSE:NGEX Stock Forecast page.
Spark’s Take on TSE:NGEX Stock
According to Spark, TipRanks’ AI Analyst, TSE:NGEX is a Underperform.
NGEx Minerals faces significant financial challenges with persistent losses and negative cash flows, heavily impacting its overall score. While recent corporate events suggest potential growth in resource value, they do not sufficiently counterbalance the financial weaknesses. Technical indicators and valuation also show weaknesses, contributing to the overall cautious outlook.
To see Spark’s full report on TSE:NGEX stock, click here.
More about NGEx Minerals
NGEx Minerals is a Canadian-based exploration company specializing in copper and gold. The company focuses on the Lunahuasi copper-gold-silver project in Argentina and the Los Helados copper-gold project in Chile. Both projects are situated in the Vicuña District, known for significant mineral deposits. NGEx Minerals is part of the Lundin Group of Companies and holds a majority stake in the Los Helados project, collaborating with Nippon Caserones Resources LLC.
Average Trading Volume: 289,290
Technical Sentiment Signal: Buy
Current Market Cap: C$5.37B
Find detailed analytics on NGEX stock on TipRanks’ Stock Analysis page.