The latest announcement is out from Bayhorse Silver ( (TSE:BHS) ).
Bayhorse Silver Inc. has increased its non-brokered private placement from 15 million to 20 million units, with a repriced offering of four cents per unit, aiming to raise $800,000. The funds will support a diamond drilling program at the Bayhorse Silver Mine, an IP survey at the Pegasus Project, and other operational and administrative expenses, potentially enhancing the company’s exploration capabilities and market positioning.
Spark’s Take on TSE:BHS Stock
According to Spark, TipRanks’ AI Analyst, TSE:BHS is a Underperform.
Bayhorse Silver’s stock score is heavily impacted by its poor financial performance, with persistent losses, high leverage, and negative cash flow. Despite some positive developments in drilling and mineralization, the technical indicators suggest a bearish trend, and the negative P/E ratio poses valuation concerns. The recent corporate events offer some optimism, but the overall financial instability and limited growth prospects dominate the score.
To see Spark’s full report on TSE:BHS stock, click here.
More about Bayhorse Silver
Bayhorse Silver Inc. is an exploration and production company with a 100% interest in the historic Bayhorse Silver Mine in Oregon, USA, and the Pegasus Project in Idaho. The company utilizes advanced ore-sorting technology to minimize environmental impact and has a facility capable of processing significant amounts of silver and copper concentrate. Bayhorse Silver Inc. is supported by an experienced management and technical team with extensive expertise in mining exploration and operations.
Average Trading Volume: 327,952
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$12.27M
Learn more about BHS stock on TipRanks’ Stock Analysis page.