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PyroGenesis Canada ( (TSE:PYR) ) just unveiled an update.
PyroGenesis Inc. announced a non-brokered private placement, conditionally approved by the Toronto Stock Exchange, to raise funds for working capital and general corporate purposes. The placement includes two unit groups, with CEO P. Peter Pascali expected to invest significantly. This move is anticipated to bolster PyroGenesis’ financial position and support its ongoing operations and strategic initiatives.
The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on PyroGenesis Canada stock, see the TSE:PYR Stock Forecast page.
Spark’s Take on TSE:PYR Stock
According to Spark, TipRanks’ AI Analyst, TSE:PYR is a Neutral.
The overall stock score is primarily driven by significant financial challenges, including declining revenues, high leverage, and negative cash flows. Technical analysis also indicates weak market momentum. While recent corporate events show positive strategic developments, they are insufficient to counterbalance the financial and technical weaknesses.
To see Spark’s full report on TSE:PYR stock, click here.
More about PyroGenesis Canada
PyroGenesis Inc. is a leader in plasma technology, providing advanced engineering solutions for energy, propulsion, destruction, process heating, emissions, and materials development in heavy industry and defense. The company serves global leaders in sectors such as aluminum, aerospace, steel, iron ore, utilities, environmental services, military, and government. Operating from its Montreal headquarters, PyroGenesis is committed to innovation and commercialization of energy transition and ultra-high temperature technology, with ISO certifications since 1997.
Average Trading Volume: 190,176
Technical Sentiment Signal: Sell
Current Market Cap: C$43.13M
For a thorough assessment of PYR stock, go to TipRanks’ Stock Analysis page.