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29metals Ltd. ( (AU:29M) ) has shared an announcement.
29Metals has disclosed a change in the indirect shareholding of director Creagh O’Connor, lodged under ASX listing rule requirements. A closely related party, GP Securities Pty Ltd, increased its holding through participation in the company’s Retail Entitlement Offer.
Following the transaction priced at $0.40 per share, O’Connor’s indirect interest rose from 436,364 to 555,590 ordinary shares. The change reflects director support for the company’s capital raising initiative, potentially signalling confidence in 29Metals’ financial strategy to existing shareholders.
The most recent analyst rating on (AU:29M) stock is a Hold with a A$0.44 price target. To see the full list of analyst forecasts on 29metals Ltd. stock, see the AU:29M Stock Forecast page.
More about 29metals Ltd.
29Metals Limited is an Australian mining company focused on producing copper and other base metals. It operates in the resources sector, with its ordinary fully paid shares listed on the ASX and held by institutional and individual investors, including company directors and their related parties.
Average Trading Volume: 7,607,068
Technical Sentiment Signal: Hold
Current Market Cap: A$742.6M
For a thorough assessment of 29M stock, go to TipRanks’ Stock Analysis page.