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Kenorland Minerals ( (TSE:KLD) ) has shared an announcement.
Kenorland Minerals Ltd. announced that Sumitomo Metal Mining Canada Ltd. and Centerra Gold Inc. have exercised their ‘top-up right’ to maintain their respective interests in Kenorland, following recent share issuances. This move will result in the issuance of 51,805 common shares at $2.028 per share, subject to TSX Venture Exchange approval, allowing Sumitomo to retain a 10.1% stake and Centerra a 9.9% stake in the company. This development underscores the continued confidence of major stakeholders in Kenorland’s operations and its strategic exploration initiatives.
The most recent analyst rating on (TSE:KLD) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Kenorland Minerals stock, see the TSE:KLD Stock Forecast page.
Spark’s Take on TSE:KLD Stock
According to Spark, TipRanks’ AI Analyst, TSE:KLD is a Neutral.
Kenorland Minerals’ overall stock score is primarily impacted by its financial performance challenges, including declining revenue and profitability. The technical analysis suggests moderate positive momentum, but the valuation is concerning due to a negative P/E ratio and lack of dividend yield. These factors combined result in a below-average stock score.
To see Spark’s full report on TSE:KLD stock, click here.
More about Kenorland Minerals
Kenorland Minerals Ltd. is a well-financed mineral exploration company based in Vancouver, British Columbia, Canada, focusing on project generation and early-stage exploration in North America. The company’s strategy involves advancing greenfields projects through systematic exploration surveys, primarily financed through partnerships and joint venture agreements. Kenorland holds a 4% net smelter return royalty on the Frotet Project in Quebec, which hosts the Regnault gold system, a discovery made in collaboration with Sumitomo Metal Mining Canada Ltd.
Average Trading Volume: 54,365
Technical Sentiment Signal: Buy
Current Market Cap: C$161.5M
See more insights into KLD stock on TipRanks’ Stock Analysis page.