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Lithium Ionic Corp ( (TSE:LTH) ) just unveiled an update.
Lithium Ionic Corp. has announced an increase in its non-brokered private placement to $15 million due to strong investor demand. The funds raised will be used for exploration and development of its Brazilian properties and general corporate purposes, potentially enhancing the company’s operations and market positioning in the lithium mining industry.
The most recent analyst rating on (TSE:LTH) stock is a Buy with a C$2.15 price target. To see the full list of analyst forecasts on Lithium Ionic Corp stock, see the TSE:LTH Stock Forecast page.
Spark’s Take on TSE:LTH Stock
According to Spark, TipRanks’ AI Analyst, TSE:LTH is a Underperform.
The overall score is primarily weighed down by significant financial challenges, including persistent losses and cash flow issues. Technical indicators suggest a bearish trend, while valuation remains unattractive due to negative earnings. However, recent strategic corporate events may provide future growth opportunities, potentially offsetting some of the current financial weaknesses.
To see Spark’s full report on TSE:LTH stock, click here.
More about Lithium Ionic Corp
Lithium Ionic Corp. is a Canadian mining company focused on exploring and developing lithium properties in Brazil. Their flagship projects, Itinga and Salinas, are located in the Minas Gerais state, an emerging world-class hard-rock lithium district.
Average Trading Volume: 249,589
Technical Sentiment Signal: Hold
Current Market Cap: C$122.1M
See more insights into LTH stock on TipRanks’ Stock Analysis page.