Dolly Varden Silver Secures $28.76 Million in Financing to Boost Exploration

Dolly Varden Silver ( (TSE:DV) ) just unveiled an announcement.

Dolly Varden Silver Corporation has successfully closed a $28.76 million bought-deal financing, with notable participation from Eric Sprott. The funds raised will be used for working capital, general corporate purposes, and further exploration and drilling in the Kitsault Valley project and other mineral properties in British Columbia, enhancing the company’s resource expansion efforts.

The most recent analyst rating on (TSE:DV) stock is a Buy with a C$1.60 price target. To see the full list of analyst forecasts on Dolly Varden Silver stock, see the TSE:DV Stock Forecast page.

Spark’s Take on TSE:DV Stock

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

Dolly Varden Silver’s overall stock score reflects significant financial challenges, characterized by lack of revenue and consistent losses, offset by a strong equity base and absence of debt. While corporate events show strategic efforts to improve market positioning, technical analysis suggests a cautious approach given current price trends. Valuation concerns persist due to the negative P/E ratio and lack of profitability.

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

More about Dolly Varden Silver

Dolly Varden Silver Corporation is a mineral exploration company focused on its 100% owned Kitsault Valley Project in the Golden Triangle of British Columbia, Canada. The project includes high-grade silver and gold resources and is prospective for further precious metal deposits, as well as porphyry and skarn style copper and gold mineralization.

Average Trading Volume: 164,519

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$355.1M

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