Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
An update from Canyon Resources Limited ( (AU:CAY) ) is now available.
Canyon Resources Limited announced the issuance of 12,584,817 fully paid ordinary shares to its major shareholder, Eagle Eye Asset Holdings Pte Ltd, following the exercise of unquoted options. This transaction, involving a capital injection of $0.9 million, allows the new shares to be traded immediately under the exemptions provided by the Corporations Act 2001. The move is expected to enhance the company’s financial position and liquidity, potentially impacting its operational capabilities and market standing.
The most recent analyst rating on (AU:CAY) stock is a Buy with a A$0.35 price target. To see the full list of analyst forecasts on Canyon Resources Limited stock, see the AU:CAY Stock Forecast page.
More about Canyon Resources Limited
Canyon Resources Limited is a company operating in the mining industry, primarily focused on the exploration and development of bauxite resources. The company is engaged in advancing its projects to supply the global aluminum market.
Average Trading Volume: 631,308
Technical Sentiment Signal: Buy
Current Market Cap: A$460.8M
For a thorough assessment of CAY stock, go to TipRanks’ Stock Analysis page.