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Candente Copper ( (TSE:ATCU) ) has shared an announcement.
Alta Copper has secured a final order from the Supreme Court of British Columbia approving the planned acquisition of all its outstanding common shares by Nascent Exploration, a wholly owned subsidiary of Australian miner Fortescue, through a court-sanctioned plan of arrangement. Completion of the deal now hinges on a review under Canada’s Investment Canada Act and the fulfilment or waiver of remaining closing conditions, positioning Alta Copper’s Cañariaco project to move under the control of a major industry player and potentially accelerating development of one of the region’s largest undeveloped copper assets.
The most recent analyst rating on (TSE:ATCU) stock is a Hold with a C$1.50 price target. To see the full list of analyst forecasts on Candente Copper stock, see the TSE:ATCU Stock Forecast page.
Spark’s Take on TSE:ATCU Stock
According to Spark, TipRanks’ AI Analyst, TSE:ATCU is a Neutral.
The score is held back primarily by pre-revenue operations with ongoing losses and increasing cash burn, partially offset by a conservatively levered balance sheet. Technically, momentum is positive with price above major moving averages, but overbought indicators raise near-term risk. Valuation signals are limited because the company is loss-making and no dividend yield is provided.
To see Spark’s full report on TSE:ATCU stock, click here.
More about Candente Copper
Alta Copper Corp. is a Vancouver-based mining company focused on developing its 100%-owned Cañariaco advanced-stage copper project in northern Peru. The 91-square-kilometre property hosts the Cañariaco Norte and Cañariaco Sur deposits and the Quebrada Verde prospect along a four-kilometre trend in a prolific Andean mining district, and is regarded as one of the largest copper deposits in the Americas not controlled by a major mining company.
Average Trading Volume: 104,386
Technical Sentiment Signal: Buy
Current Market Cap: C$126.2M
For detailed information about ATCU stock, go to TipRanks’ Stock Analysis page.