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PyroGenesis Canada ( (TSE:PYR) ) has shared an update.
PyroGenesis Canada has successfully closed the first tranche of the Second Unit Group of its non-brokered private placement, raising approximately $822,000. The funds will be used for working capital and general corporate purposes. This tranche was slightly oversubscribed, and the company plans to close both Unit Groups next week, pending final approval from the TSX. The private placement reflects PyroGenesis’ ongoing efforts to strengthen its financial position and support its operations in the heavy industry and defense sectors.
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 Underperform.
PyroGenesis Canada faces significant financial challenges, with declining revenues and a highly leveraged balance sheet being the most critical factors. The technical analysis indicates a bearish trend, and the valuation metrics reflect the company’s unprofitable status. These factors collectively result in a low overall stock score.
To see Spark’s full report on TSE:PYR stock, click here.
More about PyroGenesis Canada
PyroGenesis Inc. is a leader in ultra-high temperature processes and engineering innovation, providing plasma-based technology solutions to heavy industry and defense sectors. The company serves global leaders in aluminum, aerospace, steel, iron ore, utilities, environmental services, military, and government. Operating from Montreal, PyroGenesis focuses on energy transition and ultra-high temperature technology, with ISO 9001:2015 and AS9100D certifications.
Average Trading Volume: 209,873
Technical Sentiment Signal: Sell
Current Market Cap: C$42.29M
Find detailed analytics on PYR stock on TipRanks’ Stock Analysis page.