Trigon Metals to Sell Kombat Mine Stake to Horizon Corporation

Trigon Metals Inc ( (TSE:TM) ) has issued an announcement.

Trigon Metals Inc. has signed a definitive agreement to sell its interest in the Kombat Mine in Namibia to Horizon Corporation Limited. The transaction, valued at $24 million, will provide Trigon with a strong financial foundation for growth in other projects such as Silver Hill and Addana. The deal is expected to bring economic benefits to the local community, with Horizon’s experience in mining poised to successfully reopen the mine and create jobs.

The most recent analyst rating on (TSE:TM) stock is a Buy with a C$3.50 price target. To see the full list of analyst forecasts on Trigon Metals Inc stock, see the TSE:TM Stock Forecast page.

Spark’s Take on TSE:TM Stock

According to Spark, TipRanks’ AI Analyst, TSE:TM is a Underperform.

Trigon Metals Inc faces significant financial instability, with negative profitability and high leverage, impacting its overall stock score. Technical analysis indicates a bearish trend, while the valuation suffers due to a negative P/E ratio and no dividend yield. Although corporate events suggest potential strategic shifts providing financial flexibility, operational challenges pose risks. The overall score reflects these significant challenges, suggesting caution for potential investors.

To see Spark’s full report on TSE:TM stock, click here.

More about Trigon Metals Inc

Trigon Metals Inc. operates in the mining industry, focusing on the exploration and development of mineral properties. The company is primarily involved in copper and silver mining projects, with a significant market focus on the Kombat Mine in Namibia.

Average Trading Volume: 39,984

Technical Sentiment Signal: Sell

Current Market Cap: C$12.62M

For a thorough assessment of TM stock, go to TipRanks’ Stock Analysis page.