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An announcement from Gold Reserve ( (TSE:GRZ) ) is now available.
Gold Reserve has increased the size of its previously announced private placement of common shares to raise up to approximately US$75 million, pricing each share at US$3.00. The issue remains subject to market conditions, completion of definitive documentation and approvals from the TSX Venture Exchange and the Bermuda Stock Exchange, with closing targeted for late February.
The company has also granted Cantor Fitzgerald Canada an over-allotment option of up to 25% additional shares, which could lift total gross proceeds to about US$93.75 million if fully exercised. The financing will be conducted on a best-efforts basis under prospectus exemptions in Canada, the United States and certain other jurisdictions, with standard commissions and hold periods applying to participating investors.
The most recent analyst rating on (TSE:GRZ) stock is a Hold with a C$4.50 price target. To see the full list of analyst forecasts on Gold Reserve stock, see the TSE:GRZ Stock Forecast page.
Spark’s Take on TSE:GRZ Stock
According to Spark, TipRanks’ AI Analyst, TSE:GRZ is a Neutral.
The score is held back primarily by weak financial performance (persistent losses and ongoing cash burn despite low debt). Technicals are supportive due to strong momentum above key moving averages, but the overbought RSI reduces the technical score. Valuation is constrained by the negative P/E and lack of dividend yield data.
To see Spark’s full report on TSE:GRZ stock, click here.
More about Gold Reserve
Gold Reserve Ltd. is a mineral exploration and development company listed on the TSX Venture Exchange, the Bermuda Stock Exchange and the OTCQX market. The company focuses on advancing gold-related projects and operates primarily through equity financing in North American and international capital markets.
Average Trading Volume: 74,802
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$521.5M
Find detailed analytics on GRZ stock on TipRanks’ Stock Analysis page.