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The latest update is out from Nicola Mining ( (TSE:NIM) ).
Nicola Mining Inc. announced the conversion of $3.9 million in convertible debentures into common shares, significantly increasing Concept Capital Management’s stake in the company to 20.96%. This conversion strengthens Concept’s position as a major shareholder, potentially impacting Nicola’s strategic direction and market influence.
The most recent analyst rating on (TSE:NIM) stock is a Buy with a C$1.50 price target. To see the full list of analyst forecasts on Nicola Mining stock, see the TSE:NIM Stock Forecast page.
Spark’s Take on TSE:NIM Stock
According to Spark, TipRanks’ AI Analyst, TSE:NIM is a Neutral.
The overall stock score of 59 reflects a balance between significant financial distress and positive corporate developments. The financial challenges are severe, with insolvency risks and negative cash flows weighing heavily. However, positive corporate events and technical indicators suggest some potential for recovery and growth, warranting cautious optimism.
To see Spark’s full report on TSE:NIM stock, click here.
More about Nicola Mining
Nicola Mining Inc. is a junior mining company that operates a fully-permitted mill and tailings facility near Merritt, British Columbia. The company has agreements with high-grade gold projects and can process gold and silver mill feed. It owns the New Craigmont Project, a high-grade copper property, and the Treasure Mountain Property, which includes mineral claims and leases.
Average Trading Volume: 119,403
Technical Sentiment Signal: Buy
Current Market Cap: C$211.4M
For a thorough assessment of NIM stock, go to TipRanks’ Stock Analysis page.