Osisko Metals Incorporated ( (TSE:OM) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Osisko Metals Incorporated shares have been climbing as traders respond to strong technical signals, with the stock recently pushing above key moving averages and flashing a positive MACD, pointing to renewed buying momentum. Supporting this move, the company announced a C$15 million flow-through bought-deal financing to fund exploration and resource expansion at its Gaspé Copper and Pine Point projects, shoring up development plans despite its lack of revenue and ongoing cash burn. While these financial constraints still weigh on how the market values the company, the fresh capital and encouraging drill results have improved sentiment and underpinned the latest upswing in the share price.
More about Osisko Metals Incorporated
YTD Price Performance: 7.89%
Average Trading Volume: 861,024
Technical Sentiment Signal: Buy
Current Market Cap: C$560.5M
For further insights into OM stock on TipRanks’ Stock Analysis page.
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