Lithium Royalty Corp. Adjusts Share Repurchase Offer

Lithium Royalty Corp. ( (TSE:LIRC) ) just unveiled an update.

Lithium Royalty Corp. has announced an amendment to its substantial issuer bid, increasing the price range for share repurchase to between C$5.20 and C$5.70 per share, up from the original range of C$4.50 to C$5.20. This adjustment represents a premium to the recent average share price and extends the offer’s expiration to May 15, 2025. The move is aimed at repurchasing up to C$7,000,000 of its common shares, approximately 2.21% to 2.42% of its total equity shares, depending on the final purchase price. Shareholders must retender their shares under the new terms to participate, and the company plans to announce the offer results shortly after the expiration date.

Spark’s Take on TSE:LIRC Stock

According to Spark, TipRanks’ AI Analyst, TSE:LIRC is a Neutral.

Lithium Royalty Corp. faces substantial financial challenges with declining revenue and persistent losses, impacting its profitability. However, the company’s strong equity position and recent share buyback initiative demonstrate some financial stability and confidence in future prospects. Technical indicators suggest a stable short-term momentum but a longer-term downtrend. The negative P/E ratio reflects current profitability issues, and the absence of a dividend yield further impacts its valuation appeal.

To see Spark’s full report on TSE:LIRC stock, click here.

More about Lithium Royalty Corp.

Lithium Royalty Corp. is a Canadian-based company focused on lithium royalties, with a globally diversified portfolio of 35 revenue royalties on mineral properties related to the electrification and decarbonization of the global economy. The company targets the battery supply chain for transportation and energy storage.

YTD Price Performance: -13.26%

Average Trading Volume: 19,191

Technical Sentiment Signal: Buy

See more insights into LIRC stock on TipRanks’ Stock Analysis page.