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Magna Mining ( (TSE:NICU) ) has provided an announcement.
Magna Mining has reported further high-grade copper and precious metal intersections from four diamond drill holes at the R2 target of the past-producing Levack Mine in Sudbury, with multiple narrow veins returning up to 25.0% copper, strong platinum, palladium, gold and silver grades, and mineralization now traced over a vertical extent greater than 200 metres. Management says the results extend known mineralization at depth and along different orientations, reinforce the interpretation of R2 as part of a regionally significant footwall copper–precious metals system associated with major nearby deposits, and support continued drilling to better define and potentially expand this emerging high-grade target, which could be strategically important to the long-term development potential of the Levack property.
The most recent analyst rating on (TSE:NICU) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Magna Mining stock, see the TSE:NICU Stock Forecast page.
Spark’s Take on TSE:NICU Stock
According to Spark, TipRanks’ AI Analyst, TSE:NICU is a Neutral.
The score is held back primarily by weak cash generation (materially negative operating and free cash flow) and mixed underlying profitability signals despite positive net income. A low-leverage balance sheet and improving scale help offset this, and technicals are supportive with the stock trading above key moving averages. Valuation remains a risk given the very high P/E and lack of dividend support.
To see Spark’s full report on TSE:NICU stock, click here.
More about Magna Mining
Magna Mining Inc. is a Canadian exploration and development company focused on nickel, copper and precious metal projects in the Sudbury Basin of northeastern Ontario, a globally significant mining district. The company is advancing past-producing assets such as the Levack Mine, targeting high-grade footwall copper and platinum group element systems that could support future underground operations and enhance its position in the base and precious metals market.
Average Trading Volume: 422,303
Technical Sentiment Signal: Buy
Current Market Cap: C$911.8M
See more data about NICU stock on TipRanks’ Stock Analysis page.