TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Fireweed Zinc ( (TSE:FWZ) ) just unveiled an update.
Fireweed Metals Corp. has successfully completed a comprehensive 11,117-meter multi-purpose drill program at its Mactung tungsten project, which includes geotechnical, hydrogeological, and infill drilling. This program is crucial for the upcoming Feasibility Study, expected to start by the end of 2025. The results confirm the high-grade nature and significant scale of the tungsten deposit, supported by a U.S. Department of War award under the Defense Production Act. The company has also initiated a Mineral Resource Update to convert resources from Inferred to Indicated, and conducted environmental baseline studies for future mine licensing. These efforts are part of a broader strategy to cement Mactung as a leading tungsten deposit globally, enhancing Fireweed’s industry positioning and potentially benefiting stakeholders through increased project viability and future development activities.
The most recent analyst rating on (TSE:FWZ) stock is a Buy with a C$3.75 price target. To see the full list of analyst forecasts on Fireweed Zinc stock, see the TSE:FWZ Stock Forecast page.
Spark’s Take on TSE:FWZ Stock
According to Spark, TipRanks’ AI Analyst, TSE:FWZ is a Neutral.
Fireweed Zinc’s overall stock score reflects significant financial challenges, with negative profitability and cash flow issues being major concerns. While technical analysis offers some optimism with positive momentum, the poor valuation due to unprofitability weighs heavily on the score. Recent corporate events suggest strategic improvements, but their impact is not yet realized, warranting a cautious outlook.
To see Spark’s full report on TSE:FWZ stock, click here.
More about Fireweed Zinc
Fireweed Metals Corp. is a company operating in the mining industry, focusing on the exploration and development of mineral properties. The company is particularly engaged in advancing its Mactung tungsten project located in Yukon, Canada.
YTD Price Performance: 80.95%
Average Trading Volume: 402,243
Technical Sentiment Signal: Buy
Current Market Cap: C$560.9M
Learn more about FWZ stock on TipRanks’ Stock Analysis page.