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The latest announcement is out from Firm Cap Mortgage Invest ( (TSE:FC) ).
Firm Capital Mortgage Investment Corporation has announced a $20 million bought deal financing through the issuance of convertible unsecured subordinated debentures. The proceeds from this offering will be directed towards debt repayment and general corporate purposes, potentially enhancing the company’s financial flexibility and market positioning. The debentures, bearing an interest rate of 5.50% per annum and maturing in 2032, offer conversion options into common shares and are subject to certain conditions, including regulatory approvals.
The most recent analyst rating on (TSE:FC) stock is a Buy with a C$13.00 price target. To see the full list of analyst forecasts on Firm Cap Mortgage Invest stock, see the TSE:FC Stock Forecast page.
Spark’s Take on TSE:FC Stock
According to Spark, TipRanks’ AI Analyst, TSE:FC is a Neutral.
Firm Cap Mortgage Invest has a strong financial foundation and attractive valuation, bolstered by positive corporate events. However, cash flow challenges and short-term technical caution weigh on the overall score. Addressing cash flow inefficiencies is crucial for maintaining stability and supporting future growth.
To see Spark’s full report on TSE:FC stock, click here.
More about Firm Cap Mortgage Invest
Firm Capital Mortgage Investment Corporation operates in the financial sector, focusing on mortgage investment. The company primarily deals with providing mortgage financing solutions and is listed on the Toronto Stock Exchange under the symbol FC.
Average Trading Volume: 44,788
Technical Sentiment Signal: Buy
Current Market Cap: C$452.6M
Find detailed analytics on FC stock on TipRanks’ Stock Analysis page.