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The latest update is out from International Tower Hill Mines ( (TSE:ITH) ).
International Tower Hill Mines has priced and upsized a public offering of 29.28 million common shares in the United States at US$2.22 per share, alongside a US$40 million concurrent private placement with Paulson & Co., for total expected gross proceeds of approximately US$105 million, potentially rising to about US$115 million if underwriters exercise a 15% overallotment option. The company plans to use the funds to accelerate exploration and development of its Livengood Gold Project, including drilling, technical and feasibility work, environmental baseline studies, permitting and related engineering and corporate needs, a capital raise that strengthens its funding position for advancing one of its key gold assets and could be significant for stakeholders seeking progress toward project de-risking and potential future production.
The most recent analyst rating on (TSE:ITH) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on International Tower Hill Mines stock, see the TSE:ITH Stock Forecast page.
Spark’s Take on TSE:ITH Stock
According to Spark, TipRanks’ AI Analyst, TSE:ITH is a Neutral.
The score is held back primarily by weak financial performance (no revenue and ongoing losses), partially offset by a debt-free balance sheet and a recent TTM cash-flow improvement. Technicals are currently supportive with strong trend and positive momentum, but valuation is undermined by negative earnings and no stated dividend.
To see Spark’s full report on TSE:ITH stock, click here.
More about International Tower Hill Mines
International Tower Hill Mines Ltd. is a precious metals exploration and development company listed on the TSX and NYSE American, focused on advancing its flagship Livengood Gold Project in Alaska. The company’s activities center on resource delineation, technical studies and permitting work needed to move the large-scale gold project toward potential development and production.
Average Trading Volume: 43,307
Technical Sentiment Signal: Buy
Current Market Cap: C$690.2M
For an in-depth examination of ITH stock, go to TipRanks’ Overview page.