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29metals Ltd. ( (AU:29M) ) has provided an update.
29Metals has disclosed a change in the holdings of director Fiona Robertson following her participation in the company’s Retail Entitlement Offer. Robertson acquired 116,957 new ordinary fully paid shares at $0.40 per share, increasing her direct and indirect interests in the company.
Following the transaction, Robertson’s direct shareholding rose to 466,340 shares, with her indirect interest, held via a closely related superannuation fund, increasing to 78,677 shares. The change reflects director support for the capital-raising initiative, which may be viewed positively by investors monitoring board alignment with shareholder interests.
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 resources company focused on the production and sale of base metals, primarily through its mining operations. The company is listed on the ASX and its activities center on developing and operating metal assets to supply industrial and manufacturing markets.
Average Trading Volume: 7,607,068
Technical Sentiment Signal: Hold
Current Market Cap: A$742.6M
Learn more about 29M stock on TipRanks’ Stock Analysis page.