Applied Graphite Reshapes Board as It Advances Sri Lanka Graphite Project

Applied Graphite Technologies Corporation ( (TSE:AGT) ) has issued an update.

Applied Graphite Technologies Corp. has overhauled its board governance, with directors Ian Harris, Jay Sujir, and Chaanaka Abeyratne resigning from the board effective immediately, though Abeyratne will continue as the company’s Country Manager for Sri Lanka. The board is now reduced to three members, led by chairman and CEO Ian Slater alongside directors Don Baxter and Lindsay Nagle, a streamlined structure that may signal a more tightly controlled strategic direction as the company advances the Queens Mine Complex graphite project in Sri Lanka.

The most recent analyst rating on (TSE:AGT) stock is a Hold with a C$0.08 price target. To see the full list of analyst forecasts on Applied Graphite Technologies Corporation stock, see the TSE:AGT Stock Forecast page.

Spark’s Take on TSE:AGT Stock

According to Spark, TipRanks’ AI Analyst, TSE:AGT is a Neutral.

The score is held down primarily by weak financial performance (no revenue, ongoing losses, and worsening cash burn), despite the benefit of a debt-free balance sheet and increased equity. Technicals are moderately supportive with price above major moving averages and neutral momentum. Valuation impact is limited because P/E and dividend yield were not provided.

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

More about Applied Graphite Technologies Corporation

Applied Graphite Technologies Corp. is a Vancouver-based resources company focused on developing the Queens Mine Complex in Sri Lanka. The project is located on private land in the country’s historical vein graphite district, targeting high-grade vein graphite deposits with existing historical workings and surface outcrops.

Average Trading Volume: 63,821

Technical Sentiment Signal: Buy

For a thorough assessment of AGT stock, go to TipRanks’ Stock Analysis page.