Andean Precious Metals’ Major Shareholder Sells C$95.6 Million in Secondary Share Offering

Andean Precious Metals ( (TSE:APM) ) has provided an update.

Andean Precious Metals has closed a C$95.6 million bought secondary offering of 9.1 million common shares sold by major shareholder PMB Partners LP at C$10.50 per share, an initiative aimed at boosting the company’s free float and enhancing liquidity in its stock. The sale reduces PMB Partners’ ownership from about 53.2% to 47.2% of Andean’s outstanding shares, marking a modest step toward a more diversified shareholder base, while the company itself receives no proceeds from the transaction; PMB Partners and its affiliate retain flexibility to adjust their holdings further, including via capped call option transactions with a financial institution counterparty.

The most recent analyst rating on (TSE:APM) stock is a Buy with a C$13.00 price target. To see the full list of analyst forecasts on Andean Precious Metals stock, see the TSE:APM Stock Forecast page.

Spark’s Take on TSE:APM Stock

According to Spark, TipRanks’ AI Analyst, TSE:APM is a Outperform.

The score is driven primarily by strong underlying financial performance (profitability and balance sheet strength) and supportive bullish technical trends. Valuation is only moderate due to the P/E level and no dividend yield data, while the latest earnings call was broadly positive but tempered by production challenges and lower-end production guidance.

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

More about Andean Precious Metals

Andean Precious Metals Corp. is a Toronto-based precious metals company whose common shares trade on the Toronto Stock Exchange under the symbol APM and on the OTCQX Market under the symbol ANPMF, providing investors exposure to the precious metals sector.

Average Trading Volume: 481,620

Technical Sentiment Signal: Buy

Current Market Cap: C$1.73B

For detailed information about APM stock, go to TipRanks’ Stock Analysis page.