Claim 70% 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
Globex Mining Ent ( (TSE:GMX) ) has issued an announcement.
Globex Mining Enterprises has reported that Brunswick Exploration has outlined a maiden inferred mineral resource of 52.2 million tonnes grading 1.08% Li2O on Globex’s Lac Escale royalty ground within the Mirage lithium project in Quebec’s James Bay region, a deposit described as among the largest undeveloped hard rock lithium resources in the Americas. The estimate, prepared under NI 43-101 after relatively limited drilling, is largely shallow, open in multiple directions, supported by metallurgical test work indicating a potential DMS-only processing route, and is supplemented by a sizable conceptual exploration target, collectively highlighting substantial growth potential and enhancing the strategic value of Globex’s 3% gross metal royalty on the project for shareholders and other stakeholders.
The most recent analyst rating on (TSE:GMX) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Globex Mining Ent stock, see the TSE:GMX Stock Forecast page.
Spark’s Take on TSE:GMX Stock
According to Spark, TipRanks’ AI Analyst, TSE:GMX is a Neutral.
The score is driven primarily by financials: a very conservative, low-debt balance sheet is a major positive, but it is offset by negative TTM operating and free cash flow and uneven profitability (negative EBIT). Technically, the stock’s uptrend (price above key moving averages) provides support, while valuation appears moderate with a ~19 P/E and no dividend yield data.
To see Spark’s full report on TSE:GMX stock, click here.
More about Globex Mining Ent
Globex Mining Enterprises Inc. is a North America-focused mineral royalty and exploration company listed on the Toronto Stock Exchange and multiple European and U.S. markets, with a portfolio that includes royalties and interests in a range of metal and mineral projects. The company generates value by securing royalties on exploration and development assets, positioning itself to benefit from resource delineation and potential future production without directly operating the mines.
Average Trading Volume: 43,376
Technical Sentiment Signal: Buy
Current Market Cap: C$108.5M
See more data about GMX stock on TipRanks’ Stock Analysis page.