Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Forrestania Resources Limited ( (AU:FRS) ) just unveiled an update.
Forrestania Resources Ltd has disclosed that David Geraghty and associated entities Mandarin Rock Pty Ltd and Roologic Pty Ltd have ceased to be substantial shareholders in the company following dilution arising from a recent share issue. The notice shows that the change in substantial holding status was due to the issue of new fully paid ordinary shares by Forrestania, which reduced the relative voting power of these holders without any consideration changing hands, signalling a shift in the company’s ownership structure that may modestly rebalance influence among remaining investors.
The most recent analyst rating on (AU:FRS) stock is a Hold with a A$0.54 price target. To see the full list of analyst forecasts on Forrestania Resources Limited stock, see the AU:FRS Stock Forecast page.
More about Forrestania Resources Limited
Forrestania Resources Ltd is an Australian-listed resources company, with its shareholder base subject to disclosure under the Corporations Act’s substantial holding provisions, indicating it operates within the regulated public company environment of the mining and exploration sector.
Average Trading Volume: 1,844,547
Technical Sentiment Signal: Buy
Current Market Cap: A$359.5M
For a thorough assessment of FRS stock, go to TipRanks’ Stock Analysis page.