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Canyon Resources Limited ( (AU:CAY) ) has shared an announcement.
Canyon Resources Limited has requested a trading halt on its securities pending the announcement of a capital raising initiative. This move is intended to provide the company with the necessary time to finalize details of the capital raising, which could have significant implications for its financial strategy and market positioning.
The most recent analyst rating on (AU:CAY) stock is a Buy with a A$0.40 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 operates in the mining industry, focusing on the exploration and development of bauxite resources. The company is primarily engaged in the extraction and processing of bauxite, a key raw material for aluminum production, with a market focus on expanding its resource base and production capabilities.
Average Trading Volume: 569,614
Technical Sentiment Signal: Buy
Current Market Cap: A$526.5M
See more insights into CAY stock on TipRanks’ Stock Analysis page.