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Black Iron ( (TSE:BKI) ) just unveiled an update.
RAB Capital Holdings Limited, along with Eagles Trust Limited and RAB Special Situations (Master) Fund Limited, has sold 9,061,168 common shares of Black Iron Inc., a company listed on the Toronto Stock Exchange, for a total of $1,536,808. This disposal reduced their ownership from 15.93% to 12.94% of Black Iron’s outstanding shares. The shares were sold for investment purposes, and RAB Capital maintains a long-term view on its investment in Black Iron, indicating potential future acquisitions or sales based on market conditions and strategic considerations.
Spark’s Take on TSE:BKI Stock
According to Spark, TipRanks’ AI Analyst, TSE:BKI is a Underperform.
Black Iron’s overall score reflects its severe financial challenges, with zero revenue and negative cash flows highlighting operational difficulties. The technical analysis shows some positive short-term indicators, but these are outweighed by the negative MACD and valuation concerns. The recent appointment of an experienced CFO is a positive step but does not significantly improve the company’s outlook without a turnaround in financial performance.
To see Spark’s full report on TSE:BKI stock, click here.
More about Black Iron
Average Trading Volume: 249,864
Technical Sentiment Signal: Buy
Current Market Cap: C$42.58M
For detailed information about BKI stock, go to TipRanks’ Stock Analysis page.